Glaukos (NYSE:GKOS) Hits New 52-Week High – Time to Buy?

Glaukos Corporation (NYSE:GKOS) shares hit a new 52-week high on Wednesday . The company traded as high as $156.82 and last traded at $156.72, with a volume of 156020 shares. The stock had previously closed at $152.45.

Analysts Set New Price Targets

GKOS has been the topic of a number of research analyst reports. Citigroup boosted their price objective on shares of Glaukos from $162.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Piper Sandler reiterated an “overweight” rating and issued a $165.00 price objective on shares of Glaukos in a research report on Wednesday, July 1st. Wall Street Zen raised Glaukos from a “hold” rating to a “buy” rating in a report on Saturday, July 4th. HC Wainwright assumed coverage on Glaukos in a research report on Monday, July 6th. They issued a “buy” rating and a $168.00 price objective for the company. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Glaukos from $120.00 to $140.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Thirteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $151.77.

Glaukos Stock Up 2.8%

The company has a current ratio of 5.43, a quick ratio of 4.73 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $9.20 billion, a price-to-earnings ratio of -47.72 and a beta of 0.75. The firm’s 50 day moving average price is $133.06 and its two-hundred day moving average price is $121.23.

Glaukos (NYSE:GKOS) last released its quarterly earnings data on Wednesday, April 29th. The medical instruments supplier reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.12. Glaukos had a negative net margin of 34.34% and a negative return on equity of 6.92%. The firm had revenue of $150.57 million for the quarter, compared to the consensus estimate of $137.00 million. During the same period in the previous year, the company earned ($0.22) earnings per share. The company’s quarterly revenue was up 41.2% on a year-over-year basis. Sell-side analysts anticipate that Glaukos Corporation will post -0.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Glaukos news, CFO Alex R. Thurman sold 10,000 shares of the firm’s stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $155.00, for a total transaction of $1,550,000.00. Following the transaction, the chief financial officer owned 43,681 shares in the company, valued at $6,770,555. This trade represents a 18.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gilbert H. Kliman sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $140.76, for a total transaction of $703,800.00. Following the completion of the transaction, the director owned 35,528 shares of the company’s stock, valued at $5,000,921.28. The trade was a 12.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 61,273 shares of company stock worth $8,882,003. 5.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Glaukos

Several large investors have recently bought and sold shares of GKOS. First Horizon Corp boosted its position in Glaukos by 1,715.4% during the 4th quarter. First Horizon Corp now owns 236 shares of the medical instruments supplier’s stock worth $27,000 after buying an additional 223 shares during the period. Los Angeles Capital Management LLC acquired a new position in shares of Glaukos during the fourth quarter worth $28,000. Larson Financial Group LLC grew its stake in shares of Glaukos by 62.0% in the fourth quarter. Larson Financial Group LLC now owns 345 shares of the medical instruments supplier’s stock worth $39,000 after purchasing an additional 132 shares during the last quarter. Parallel Advisors LLC increased its holdings in Glaukos by 159.2% in the first quarter. Parallel Advisors LLC now owns 368 shares of the medical instruments supplier’s stock valued at $40,000 after purchasing an additional 226 shares during the period. Finally, Farther Finance Advisors LLC raised its position in Glaukos by 111.4% during the 4th quarter. Farther Finance Advisors LLC now owns 408 shares of the medical instruments supplier’s stock worth $46,000 after purchasing an additional 215 shares during the last quarter. 99.04% of the stock is currently 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.