Glaukos (NYSE:GKOS) Sets New 1-Year High on Analyst Upgrade

Glaukos Co. (NYSE:GKOS)’s stock price hit a new 52-week high during trading on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $130.00 to $145.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Glaukos traded as high as $142.45 and last traded at $140.64, with a volume of 1426189 shares. The stock had previously closed at $127.86.

A number of other equities research analysts have also recently weighed in on GKOS. Morgan Stanley upped their price objective on Glaukos from $100.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Monday, July 15th. Needham & Company LLC increased their price target on shares of Glaukos from $131.00 to $137.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. BTIG Research lifted their price objective on shares of Glaukos from $131.00 to $139.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Piper Sandler set a $140.00 target price on shares of Glaukos in a research report on Thursday, October 17th. Finally, Citigroup lowered shares of Glaukos from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $130.00 to $132.00 in a report on Wednesday, July 10th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $134.55.

Insiders Place Their Bets

In related news, Director Gilbert H. Kliman sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $130.67, for a total value of $392,010.00. Following the sale, the director now owns 32,336 shares in the company, valued at $4,225,345.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Gilbert H. Kliman sold 3,000 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $130.67, for a total transaction of $392,010.00. Following the completion of the transaction, the director now directly owns 32,336 shares in the company, valued at $4,225,345.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Joseph E. Gilliam sold 2,275 shares of the stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $138.97, for a total value of $316,156.75. Following the sale, the chief operating officer now directly owns 102,169 shares in the company, valued at $14,198,425.93. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,525 shares of company stock valued at $2,142,029. 6.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. EFG Asset Management North America Corp. raised its position in shares of Glaukos by 0.5% in the second quarter. EFG Asset Management North America Corp. now owns 27,205 shares of the medical instruments supplier’s stock worth $3,216,000 after acquiring an additional 128 shares during the period. Values First Advisors Inc. purchased a new position in shares of Glaukos in the 3rd quarter valued at about $25,000. New York State Teachers Retirement System raised its holdings in Glaukos by 0.4% in the 3rd quarter. New York State Teachers Retirement System now owns 48,143 shares of the medical instruments supplier’s stock worth $6,272,000 after purchasing an additional 200 shares during the period. KBC Group NV boosted its position in Glaukos by 16.2% during the third quarter. KBC Group NV now owns 1,445 shares of the medical instruments supplier’s stock worth $188,000 after purchasing an additional 201 shares in the last quarter. Finally, Inspire Investing LLC grew its holdings in Glaukos by 6.9% in the third quarter. Inspire Investing LLC now owns 3,193 shares of the medical instruments supplier’s stock valued at $416,000 after purchasing an additional 206 shares during the period. 99.04% of the stock is owned by institutional investors and hedge funds.

Glaukos Price Performance

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 $7.66 billion, a PE ratio of -46.14 and a beta of 1.02. The stock has a 50-day moving average price of $129.72 and a 200 day moving average price of $120.48.

Glaukos (NYSE:GKOS) last announced its earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.48) by $0.20. The business had revenue of $96.70 million for the quarter, compared to analyst estimates of $91.50 million. Glaukos had a negative net margin of 42.43% and a negative return on equity of 20.28%. The company’s revenue for the quarter was up 23.9% compared to the same quarter last year. During the same quarter last year, the business earned ($0.50) earnings per share. Equities analysts forecast that Glaukos Co. will post -2.16 EPS 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.