Glaukos (NYSE:GKOS) Sets New 12-Month High on Analyst Upgrade

Glaukos Co. (NYSE:GKOSGet Free Report)’s share price hit a new 52-week high during mid-day trading on Wednesday after Stifel Nicolaus raised their price target on the stock from $110.00 to $130.00. Stifel Nicolaus currently has a buy rating on the stock. Glaukos traded as high as $115.78 and last traded at $114.71, with a volume of 443129 shares. The stock had previously closed at $111.63.

A number of other equities research analysts have also issued reports on GKOS. BTIG Research raised their price target on shares of Glaukos from $107.00 to $112.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Truist Financial reissued a “buy” rating and issued a $125.00 target price (up from $120.00) on shares of Glaukos in a research note on Thursday, May 2nd. Needham & Company LLC boosted their price target on Glaukos from $108.00 to $113.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. JPMorgan Chase & Co. increased their price objective on Glaukos from $108.00 to $110.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Finally, Citigroup boosted their target price on Glaukos from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $112.27.

View Our Latest Research Report on Glaukos

Insider Buying and Selling

In related news, CFO Alex R. Thurman sold 434 shares of the stock in a transaction dated 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 transaction, the chief financial officer now directly owns 54,166 shares in the company, valued at approximately $5,163,644.78. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Alex R. Thurman sold 434 shares of Glaukos stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $95.33, for a total transaction of $41,373.22. Following the completion of the transaction, the chief financial officer now directly owns 54,166 shares in the company, valued at $5,163,644.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Alex R. Thurman sold 1,372 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $100.54, for a total value of $137,940.88. Following the completion of the sale, the chief financial officer now owns 52,532 shares in the company, valued at approximately $5,281,567.28. The disclosure for this sale can be found here. Insiders have sold a total of 81,475 shares of company stock valued at $8,387,713 over the last ninety days. Company insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Glaukos

Several institutional investors and hedge funds have recently modified their holdings of GKOS. National Bank of Canada FI purchased a new stake in Glaukos during the 4th quarter valued at about $46,000. GAMMA Investing LLC purchased a new stake in shares of Glaukos during the fourth quarter valued at approximately $55,000. Quadrant Capital Group LLC increased its position in shares of Glaukos by 54.8% during the fourth quarter. Quadrant Capital Group LLC now owns 929 shares of the medical instruments supplier’s stock valued at $74,000 after acquiring an additional 329 shares in the last quarter. Caldwell Sutter Capital Inc. raised its holdings in Glaukos by 5,860.0% in the 1st quarter. Caldwell Sutter Capital Inc. now owns 1,490 shares of the medical instruments supplier’s stock worth $140,000 after acquiring an additional 1,465 shares during the last quarter. Finally, Cetera Advisors LLC purchased a new position in Glaukos in the 1st quarter worth approximately $213,000. 99.04% of the stock is currently owned by institutional investors.

Glaukos Price Performance

The firm has a 50-day moving average of $103.30 and a 200-day moving average of $90.06. The company has a debt-to-equity ratio of 0.78, a quick ratio of 4.68 and a current ratio of 5.38. The firm has a market capitalization of $5.74 billion, a P/E ratio of -39.57 and a beta of 1.09.

Glaukos (NYSE:GKOSGet Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The medical instruments supplier reported ($0.70) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.12). Glaukos had a negative net margin of 43.15% and a negative return on equity of 24.69%. The business had revenue of $85.60 million for the quarter, compared to the consensus estimate of $79.60 million. During the same period in the previous year, the company earned ($0.59) earnings per share. The company’s revenue for the quarter was up 15.8% compared to the same quarter last year. As a group, analysts predict that Glaukos Co. will post -2.26 EPS for the current year.

About Glaukos

(Get Free Report)

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.

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