Glaukos (NYSE:GKOS) Reaches New 1-Year High at $102.60

Glaukos Co. (NYSE:GKOS) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $102.60 and last traded at $101.81, with a volume of 32614 shares trading hands. The stock had previously closed at $101.10.

Wall Street Analyst Weigh In

GKOS has been the subject of a number of analyst reports. Needham & Company LLC increased their price target on Glaukos from $105.00 to $108.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Truist Financial reaffirmed a “buy” rating and set a $110.00 target price on shares of Glaukos in a report on Monday, April 8th. Wells Fargo & Company increased their target price on Glaukos from $83.00 to $103.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd. StockNews.com downgraded Glaukos from a “hold” rating to a “sell” rating in a report on Tuesday, February 27th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $110.00 target price on shares of Glaukos in a report on Wednesday, April 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.80.

Glaukos Trading Down 0.8 %

The firm has a market cap of $5.02 billion, a P/E ratio of -36.01 and a beta of 1.08. The company has a debt-to-equity ratio of 0.77, a quick ratio of 4.78 and a current ratio of 5.34. The firm has a fifty day moving average of $92.21 and a 200-day moving average of $81.42.

Glaukos (NYSE:GKOS) last announced its quarterly earnings results on Wednesday, February 21st. The medical instruments supplier reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by ($0.07). The company had revenue of $82.40 million during the quarter, compared to the consensus estimate of $81.00 million. Glaukos had a negative return on equity of 22.67% and a negative net margin of 42.79%. The company’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same period last year, the business posted ($0.53) EPS. Equities research analysts forecast that Glaukos Co. will post -2.18 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Alex R. Thurman sold 474 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $90.37, for a total value of $42,835.38. Following the sale, the chief financial officer now owns 54,916 shares of the company’s stock, valued at approximately $4,962,758.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Alex R. Thurman sold 474 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $90.37, for a total value of $42,835.38. Following the sale, the chief financial officer now owns 54,916 shares of the company’s stock, valued at approximately $4,962,758.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Alex R. Thurman sold 434 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $95.33, for a total value of $41,373.22. Following the completion of the sale, the chief financial officer now owns 54,166 shares in the company, valued at $5,163,644.78. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 242,357 shares of company stock valued at $22,857,372. Insiders own 6.40% of the company’s stock.

Institutional Trading of Glaukos

Several large investors have recently added to or reduced their stakes in GKOS. Invesco Ltd. increased its position in Glaukos by 45.5% in the 3rd quarter. Invesco Ltd. now owns 1,450,033 shares of the medical instruments supplier’s stock valued at $109,115,000 after acquiring an additional 453,756 shares during the period. Norges Bank acquired a new stake in Glaukos in the 4th quarter valued at approximately $28,807,000. Rhenman & Partners Asset Management AB increased its position in shares of Glaukos by 236.8% during the 3rd quarter. Rhenman & Partners Asset Management AB now owns 320,000 shares of the medical instruments supplier’s stock valued at $24,080,000 after purchasing an additional 225,000 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of Glaukos during the 4th quarter valued at $15,065,000. Finally, Primecap Management Co. CA increased its position in shares of Glaukos by 23.7% during the 4th quarter. Primecap Management Co. CA now owns 790,035 shares of the medical instruments supplier’s stock valued at $62,800,000 after purchasing an additional 151,415 shares during the period. 99.04% of the stock is currently owned by institutional investors and hedge funds.

About Glaukos

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.