Glaukos (NYSE:GKOS) Sets New 12-Month High – Here’s What Happened

Glaukos Co. (NYSE:GKOS) shares reached a new 52-week high on Wednesday . The company traded as high as $151.92 and last traded at $151.22, with a volume of 239731 shares changing hands. The stock had previously closed at $148.36.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GKOS. Stifel Nicolaus raised their price target on Glaukos from $145.00 to $153.00 and gave the company a “buy” rating in a report on Monday, December 2nd. BTIG Research lifted their target price on shares of Glaukos from $140.00 to $149.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Stephens raised shares of Glaukos to a “strong-buy” rating in a report on Monday, December 2nd. JPMorgan Chase & Co. boosted their price objective on Glaukos from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, StockNews.com upgraded Glaukos from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Glaukos has an average rating of “Moderate Buy” and a consensus price target of $145.92.

Glaukos Trading Up 1.0 %

The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.71 and a current ratio of 5.54. The company has a market capitalization of $8.42 billion, a price-to-earnings ratio of -50.55 and a beta of 1.03. The firm has a fifty day moving average price of $139.35 and a 200-day moving average price of $128.88.

Glaukos (NYSE:GKOS) last released its earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.48) by $0.20. Glaukos had a negative net margin of 42.43% and a negative return on equity of 18.99%. The firm had revenue of $96.70 million for the quarter, compared to analyst estimates of $91.50 million. During the same period last year, the firm earned ($0.50) EPS. The business’s quarterly revenue was up 23.9% compared to the same quarter last year. As a group, equities analysts anticipate that Glaukos Co. will post -1.89 EPS for the current year.

Insider Buying and Selling at Glaukos

In other Glaukos news, Director Gilbert H. Kliman sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $150.28, for a total value of $1,502,800.00. Following the sale, the director now owns 32,336 shares in the company, valued at $4,859,454.08. This trade represents a 23.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Joseph E. Gilliam sold 2,275 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $138.97, for a total transaction of $316,156.75. Following the transaction, the chief operating officer now owns 102,169 shares of the company’s stock, valued at $14,198,425.93. This trade represents a 2.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,603 shares of company stock valued at $2,605,678. 6.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Glaukos

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Values First Advisors Inc. acquired a new stake in shares of Glaukos during the third quarter valued at about $25,000. Harvest Fund Management Co. Ltd boosted its position in Glaukos by 2,263.2% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 898 shares of the medical instruments supplier’s stock worth $117,000 after buying an additional 860 shares during the period. KBC Group NV grew its holdings in Glaukos by 16.2% during the 3rd quarter. KBC Group NV now owns 1,445 shares of the medical instruments supplier’s stock worth $188,000 after acquiring an additional 201 shares during the last quarter. EWA LLC acquired a new position in shares of Glaukos during the third quarter worth $209,000. Finally, Procyon Advisors LLC acquired a new position in Glaukos during the 3rd quarter worth about $210,000. Institutional investors own 99.04% of the company’s stock.

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.