Glaukos (NYSE:GKOS) Hits New 12-Month High – Here’s Why

Shares of Glaukos Co. (NYSE:GKOS) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $154.88 and last traded at $154.47, with a volume of 40438 shares trading hands. The stock had previously closed at $151.45.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of Glaukos from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. UBS Group initiated coverage on shares of Glaukos in a report on Friday, December 6th. They set a “buy” rating and a $182.00 price target on the stock. Stifel Nicolaus increased their price target on Glaukos from $153.00 to $175.00 and gave the company a “buy” rating in a report on Tuesday, December 31st. Piper Sandler set a $140.00 price objective on Glaukos in a research note on Thursday, October 17th. Finally, Wells Fargo & Company increased their price target on shares of Glaukos from $145.00 to $153.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, two have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $147.75.

Glaukos Stock Up 1.7 %

The company has a current ratio of 5.54, a quick ratio of 4.71 and a debt-to-equity ratio of 0.19. The business’s fifty day simple moving average is $142.09 and its 200 day simple moving average is $130.72. The stock has a market cap of $8.49 billion, a price-to-earnings ratio of -51.00 and a beta of 1.03.

Glaukos (NYSE:GKOS) last announced its quarterly earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates 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 quarter in the previous year, the firm posted ($0.50) earnings per share. The business’s revenue was up 23.9% on a year-over-year basis. Equities analysts forecast that Glaukos Co. will post -1.89 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Glaukos news, COO Joseph E. Gilliam sold 3,328 shares of the stock in a transaction on Friday, December 20th. The shares were sold at an average price of $149.85, for a total value of $498,700.80. Following the completion of the sale, the chief operating officer now owns 102,169 shares in the company, valued at $15,310,024.65. This trade represents a 3.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gilbert H. Kliman sold 10,000 shares of Glaukos stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $150.28, for a total value of $1,502,800.00. Following the transaction, the director now owns 32,336 shares of the company’s stock, valued at $4,859,454.08. The trade was a 23.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,603 shares of company stock valued at $2,605,678 in the last quarter. 6.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Glaukos

Several large investors have recently modified their holdings of the stock. Values First Advisors Inc. bought a new position in Glaukos in the 3rd quarter valued at about $25,000. Harvest Fund Management Co. Ltd boosted its stake in Glaukos by 2,263.2% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 898 shares of the medical instruments supplier’s stock valued at $117,000 after purchasing an additional 860 shares during the period. KBC Group NV increased its position 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 buying an additional 201 shares during the period. Brighton Jones LLC acquired a new stake in shares of Glaukos during the second quarter worth $208,000. Finally, EWA LLC acquired a new position in shares of Glaukos in the third quarter valued at about $209,000. 99.04% of the stock is owned by institutional investors.

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.