Glaukos (NYSE:GKOS) Sets New 52-Week High – What’s Next?

Shares of Glaukos Corporation (NYSE:GKOS) reached a new 52-week high during trading on Wednesday . The stock traded as high as $184.51 and last traded at $184.09, with a volume of 282727 shares changing hands. The stock had previously closed at $182.00.

Analyst Ratings Changes

A number of research analysts recently issued reports on GKOS shares. William Blair reissued an “outperform” rating on shares of Glaukos in a research note on Tuesday, May 26th. Piper Sandler reaffirmed an “overweight” rating and issued a $195.00 target price (up from $165.00) on shares of Glaukos in a report on Thursday, July 30th. Wells Fargo & Company lifted their price target on Glaukos from $138.00 to $178.00 and gave the company an “overweight” rating in a research note on Thursday, July 30th. Needham & Company LLC upped their price objective on Glaukos from $150.00 to $201.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Finally, Wall Street Zen raised Glaukos from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Twelve research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Glaukos presently has an average rating of “Moderate Buy” and a consensus price target of $177.33.

Glaukos Price Performance

The company has a debt-to-equity ratio of 0.10, a current ratio of 5.04 and a quick ratio of 4.46. The stock has a market cap of $11.15 billion, a price-to-earnings ratio of -58.18 and a beta of 0.78. The business’s 50-day simple moving average is $150.03 and its two-hundred day simple moving average is $128.97.

Glaukos (NYSE:GKOS) last announced its quarterly earnings results on Wednesday, July 29th. The medical instruments supplier reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.07. Glaukos had a negative net margin of 30.68% and a negative return on equity of 6.37%. The company had revenue of $185.61 million during the quarter, compared to the consensus estimate of $150.93 million. During the same period in the prior year, the business earned ($0.24) earnings per share. The company’s revenue for the quarter was up 49.6% compared to the same quarter last year. Research analysts expect that Glaukos Corporation will post -0.35 earnings per share for the current year.

Insider Buying and Selling at Glaukos

In other news, COO Joseph E. Gilliam sold 60,000 shares of the business’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $179.74, for a total transaction of $10,784,400.00. Following the sale, the chief operating officer directly owned 72,588 shares in the company, valued at approximately $13,046,967.12. The trade was a 45.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Alex R. Thurman sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $180.13, for a total value of $3,602,600.00. Following the completion of the transaction, the chief financial officer directly owned 43,906 shares of the company’s stock, valued at $7,908,787.78. This represents a 31.30% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 110,525 shares of company stock worth $19,125,006. 5.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Glaukos

A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in Glaukos in the 2nd quarter valued at approximately $1,333,318,000. Janus Henderson Group PLC lifted its holdings in shares of Glaukos by 77.2% during the first quarter. Janus Henderson Group PLC now owns 5,348,395 shares of the medical instruments supplier’s stock worth $575,844,000 after purchasing an additional 2,329,608 shares during the period. Wellington Management Group LLP grew its stake in shares of Glaukos by 10.4% in the third quarter. Wellington Management Group LLP now owns 3,580,670 shares of the medical instruments supplier’s stock worth $292,004,000 after purchasing an additional 336,266 shares during the last quarter. Primecap Management Co. CA grew its stake in shares of Glaukos by 49.8% in the fourth quarter. Primecap Management Co. CA now owns 3,376,928 shares of the medical instruments supplier’s stock worth $381,289,000 after purchasing an additional 1,123,140 shares during the last quarter. Finally, State Street Corp increased its holdings in Glaukos by 0.9% in the fourth quarter. State Street Corp now owns 2,122,402 shares of the medical instruments supplier’s stock valued at $239,640,000 after purchasing an additional 18,040 shares during the period. 99.04% of the stock is owned by institutional investors.

About Glaukos

Glaukos Corporation is a medical technology company specializing in the development, manufacturing and commercialization of innovative therapies for patients with glaucoma and other chronic eye diseases. The company’s core offerings focus on micro-invasive glaucoma surgery (MIGS), designed to reduce intraocular pressure and manage glaucoma more safely and effectively than traditional surgical approaches. Glaukos’s flagship products include the iStent, iStent inject and iStent infinite trabecular micro-bypass stents, which are implanted during cataract surgery to improve aqueous outflow and help control eye pressure.

Beyond its MIGS portfolio, Glaukos has expanded into sustained drug-delivery solutions.