Glaukos (NYSE:GKOS) Reaches New 1-Year High at $121.04

Glaukos Co. (NYSE:GKOS) hit a new 52-week high during trading on Tuesday . The stock traded as high as $121.04 and last traded at $120.21, with a volume of 108352 shares trading hands. The stock had previously closed at $117.42.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GKOS. Stifel Nicolaus raised their target price on shares of Glaukos from $110.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, June 5th. BTIG Research lifted their price objective on Glaukos from $107.00 to $112.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Citigroup upped their target price on Glaukos from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, May 22nd. Wells Fargo & Company raised their target price on Glaukos from $110.00 to $120.00 and gave the stock an “overweight” rating in a report on Monday, June 3rd. Finally, JPMorgan Chase & Co. boosted their price target on Glaukos from $108.00 to $110.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $112.27.

Glaukos Price Performance

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 company has a 50 day moving average price of $110.31 and a two-hundred day moving average price of $97.07.

Glaukos (NYSE:GKOS) last issued its quarterly earnings results on Wednesday, May 1st. The medical instruments supplier reported ($0.70) EPS for the quarter, missing the consensus estimate of ($0.58) by ($0.12). The company had revenue of $85.60 million during the quarter, compared to analysts’ expectations of $79.60 million. Glaukos had a negative return on equity of 24.69% and a negative net margin of 43.15%. Glaukos’s revenue was up 15.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.59) EPS. On average, sell-side analysts forecast that Glaukos Co. will post -2.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Joseph E. Gilliam sold 59,801 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $100.47, for a total value of $6,008,206.47. Following the transaction, the chief operating officer now owns 101,845 shares in the company, valued at $10,232,367.15. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CFO Alex R. Thurman sold 1,372 shares of the business’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $100.54, for a total transaction of $137,940.88. Following the transaction, the chief financial officer now directly owns 52,532 shares in the company, valued at $5,281,567.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Joseph E. Gilliam sold 59,801 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $100.47, for a total transaction of $6,008,206.47. Following the sale, the chief operating officer now directly owns 101,845 shares of the company’s stock, valued at approximately $10,232,367.15. The disclosure for this sale can be found here. In the last three months, insiders sold 80,367 shares of company stock worth $8,284,190. Corporate insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GKOS. Mariner LLC lifted its position in Glaukos by 7.1% during the third quarter. Mariner LLC now owns 6,218 shares of the medical instruments supplier’s stock worth $468,000 after buying an additional 411 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in shares of Glaukos by 34.0% during the 4th quarter. Harbor Capital Advisors Inc. now owns 27,306 shares of the medical instruments supplier’s stock worth $2,171,000 after acquiring an additional 6,922 shares during the period. Trust Point Inc. acquired a new position in shares of Glaukos during the 4th quarter valued at about $555,000. International Assets Investment Management LLC purchased a new stake in shares of Glaukos in the fourth quarter valued at about $259,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Glaukos by 2.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,542 shares of the medical instruments supplier’s stock worth $1,951,000 after purchasing an additional 610 shares during the last quarter. 99.04% of the stock is currently owned by institutional investors and hedge funds.

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.