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

Glaukos Co. (NYSE:GKOS) shares hit a new 52-week high on Thursday after Truist Financial raised their price target on the stock from $152.00 to $185.00. Truist Financial currently has a buy rating on the stock. Glaukos traded as high as $148.67 and last traded at $148.16, with a volume of 130576 shares changing hands. The stock had previously closed at $145.14.

GKOS has been the subject of a number of other reports. StockNews.com raised Glaukos from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. Stifel Nicolaus upped their price objective on shares of Glaukos from $145.00 to $153.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Piper Sandler set a $140.00 target price on Glaukos in a report on Thursday, October 17th. Stephens raised Glaukos to a “strong-buy” rating in a research note on Monday, December 2nd. Finally, Citigroup raised Glaukos from a “neutral” rating to a “buy” rating and raised their price target for the company from $132.00 to $162.00 in a research report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Glaukos has a consensus rating of “Moderate Buy” and an average target price of $145.92.

Insider Transactions at Glaukos

In other Glaukos news, Director Gilbert H. Kliman sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $144.01, for a total value of $288,020.00. Following the sale, the director now owns 32,336 shares in the company, valued at $4,656,707.36. This trade represents a 5.82 % 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 firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $138.97, for a total transaction of $316,156.75. Following the completion of the transaction, the chief operating officer now owns 102,169 shares of the company’s stock, valued at approximately $14,198,425.93. This trade represents a 2.18 % decrease in their position. The disclosure for this sale can be found here. 6.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Glaukos

Institutional investors and hedge funds have recently bought and sold shares of the stock. Values First Advisors Inc. acquired a new position in shares of Glaukos during the third quarter valued at about $25,000. Harvest Fund Management Co. Ltd lifted its stake in shares of Glaukos by 2,263.2% in the third quarter. Harvest Fund Management Co. Ltd now owns 898 shares of the medical instruments supplier’s stock valued at $117,000 after buying an additional 860 shares in the last quarter. KBC Group NV grew its holdings in shares of Glaukos by 16.2% during the third quarter. KBC Group NV now owns 1,445 shares of the medical instruments supplier’s stock valued at $188,000 after buying an additional 201 shares during the last quarter. EWA LLC acquired a new position in Glaukos during the 3rd quarter valued at about $209,000. Finally, Fifth Third Wealth Advisors LLC purchased a new position in Glaukos during the 2nd quarter worth $187,000. 99.04% of the stock is currently owned by institutional investors and hedge funds.

Glaukos Stock Up 2.1 %

The company has a market capitalization of $8.17 billion, a PE ratio of -49.06 and a beta of 1.03. The company has a quick ratio of 4.71, a current ratio of 5.54 and a debt-to-equity ratio of 0.19. The stock has a 50-day moving average of $137.26 and a 200 day moving average of $127.64.

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

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.