Glaukos (NYSE:GKOS) Reaches New 52-Week High on Analyst Upgrade

Glaukos Co. (NYSE:GKOS) shares hit a new 52-week high during mid-day trading on Tuesday after Stifel Nicolaus raised their price target on the stock from $130.00 to $145.00. Stifel Nicolaus currently has a buy rating on the stock. Glaukos traded as high as $136.60 and last traded at $135.26, with a volume of 28153 shares changing hands. The stock had previously closed at $133.89.

GKOS has been the subject of several other reports. Jefferies Financial Group raised shares of Glaukos from a “hold” rating to a “buy” rating and boosted their target price for the stock from $84.00 to $125.00 in a research report on Monday, May 6th. Needham & Company LLC boosted their price target on shares of Glaukos from $131.00 to $137.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. StockNews.com downgraded Glaukos from a “hold” rating to a “sell” rating in a research report on Friday, August 30th. Piper Sandler boosted their target price on Glaukos from $110.00 to $140.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Finally, Truist Financial reiterated a “buy” rating and set a $145.00 price target (up previously from $141.00) on shares of Glaukos in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Glaukos presently has a consensus rating of “Moderate Buy” and an average target price of $129.82.

Insider Activity at Glaukos

In related news, COO Joseph E. Gilliam sold 2,250 shares of the stock in a transaction on Friday, July 5th. The stock was sold at an average price of $121.39, for a total value of $273,127.50. Following the sale, the chief operating officer now owns 101,845 shares in the company, valued at $12,362,964.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, COO Joseph E. Gilliam sold 2,250 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $121.39, for a total value of $273,127.50. Following the transaction, the chief operating officer now directly owns 101,845 shares in the company, valued at $12,362,964.55. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Aimee S. Weisner sold 25,000 shares of Glaukos stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $120.00, for a total transaction of $3,000,000.00. Following the sale, the director now owns 30,119 shares of the company’s stock, valued at $3,614,280. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,500 shares of company stock valued at $4,706,990. Corporate insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Glaukos by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 5,308,897 shares of the medical instruments supplier’s stock valued at $500,576,000 after buying an additional 72,159 shares during the last quarter. Brown Capital Management LLC lifted its position in shares of Glaukos by 3.4% in the 4th quarter. Brown Capital Management LLC now owns 2,697,794 shares of the medical instruments supplier’s stock worth $214,448,000 after purchasing an additional 89,420 shares during the period. Fred Alger Management LLC boosted its stake in shares of Glaukos by 3.8% during the 2nd quarter. Fred Alger Management LLC now owns 1,278,723 shares of the medical instruments supplier’s stock valued at $151,337,000 after purchasing an additional 47,308 shares in the last quarter. Primecap Management Co. CA raised its stake in Glaukos by 43.9% in the second quarter. Primecap Management Co. CA now owns 1,220,815 shares of the medical instruments supplier’s stock worth $144,483,000 after buying an additional 372,180 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Glaukos by 3.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 923,526 shares of the medical instruments supplier’s stock worth $73,412,000 after buying an additional 31,213 shares in the last quarter. 99.04% of the stock is currently owned by institutional investors.

Glaukos Stock Down 0.7 %

The company’s fifty day simple moving average is $123.09 and its 200 day simple moving average is $108.33. The company has a quick ratio of 4.67, a current ratio of 5.48 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $6.70 billion, a PE ratio of -46.18 and a beta of 1.05.

Glaukos (NYSE:GKOS) last issued its quarterly earnings results on Wednesday, July 31st. The medical instruments supplier reported ($0.52) earnings per share for the quarter, meeting the consensus estimate of ($0.52). Glaukos had a negative return on equity of 22.51% and a negative net margin of 47.39%. The firm had revenue of $95.70 million during the quarter, compared to the consensus estimate of $88.86 million. During the same period last year, the company earned ($0.55) earnings per share. The company’s revenue was up 19.0% on a year-over-year basis. Analysts anticipate that Glaukos Co. will post -2.18 earnings per share for the current fiscal year.

Glaukos Company Profile

Glaukos Corporation, an ophthalmic pharmaceutical and medical technology company, focuses on the development of novel therapies for the treatment of glaucoma, corneal disorders, and retinal diseases. It offers iStent and iStent inject W micro-bypass stents that enhance aqueous humor outflow inserted in cataract surgery to treat mild-to-moderate open-angle glaucoma.