Glaukos (NYSE:GKOS) Reaches New 1-Year High After Analyst Upgrade

Glaukos Co. (NYSE:GKOS)’s stock price reached a new 52-week high during mid-day trading on Thursday after BTIG Research raised their price target on the stock from $107.00 to $112.00. BTIG Research currently has a buy rating on the stock. Glaukos traded as high as $104.96 and last traded at $104.19, with a volume of 78770 shares changing hands. The stock had previously closed at $98.91.

A number of other analysts have also recently issued reports on GKOS. Needham & Company LLC increased their target price on Glaukos from $108.00 to $113.00 and gave the stock a “buy” rating in a research note on Thursday. Truist Financial reissued a “buy” rating and set a $125.00 price objective (up previously from $120.00) on shares of Glaukos in a research report on Thursday. Wells Fargo & Company boosted their price objective on shares of Glaukos from $103.00 to $110.00 and gave the company an “overweight” rating in a research report on Thursday. Citigroup increased their target price on Glaukos from $107.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, March 25th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $110.00 price target on shares of Glaukos in a report on Wednesday, April 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $107.00.

Insiders Place Their Bets

In other news, CFO Alex R. Thurman sold 474 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $90.37, for a total value of $42,835.38. Following the completion of the transaction, the chief financial officer now owns 54,916 shares in the company, valued at approximately $4,962,758.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Gilbert H. Kliman sold 5,000 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $88.25, for a total transaction of $441,250.00. Following the transaction, the director now directly owns 30,620 shares in the company, valued at $2,702,215. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Alex R. Thurman sold 474 shares of the stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $90.37, for a total transaction of $42,835.38. Following the completion of the sale, the chief financial officer now owns 54,916 shares of the company’s stock, valued at approximately $4,962,758.92. The disclosure for this sale can be found here. Insiders have sold 232,881 shares of company stock valued at $21,965,491 in the last three months. 6.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Glaukos

A number of institutional investors and hedge funds have recently modified their holdings of the company. Allspring Global Investments Holdings LLC increased its position in Glaukos by 127.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 166,054 shares of the medical instruments supplier’s stock worth $15,657,000 after buying an additional 93,076 shares during the last quarter. Valeo Financial Advisors LLC boosted its stake in shares of Glaukos by 1.7% during the 1st quarter. Valeo Financial Advisors LLC now owns 8,932 shares of the medical instruments supplier’s stock worth $902,000 after acquiring an additional 150 shares during the period. Caldwell Sutter Capital Inc. increased its holdings in shares of Glaukos by 5,860.0% during the 1st quarter. Caldwell Sutter Capital Inc. now owns 1,490 shares of the medical instruments supplier’s stock worth $140,000 after acquiring an additional 1,465 shares during the last quarter. SteelPeak Wealth LLC bought a new stake in Glaukos in the 1st quarter valued at $343,000. Finally, Nomura Holdings Inc. raised its stake in Glaukos by 3.2% in the 4th quarter. Nomura Holdings Inc. now owns 232,034 shares of the medical instruments supplier’s stock valued at $18,444,000 after acquiring an additional 7,146 shares during the period. 99.04% of the stock is owned by institutional investors.

Glaukos Stock Up 1.4 %

The company has a debt-to-equity ratio of 0.77, a quick ratio of 4.78 and a current ratio of 5.34. The firm has a fifty day simple moving average of $93.33 and a 200-day simple moving average of $82.87. The firm has a market cap of $5.35 billion, a price-to-earnings ratio of -36.98 and a beta of 1.08.

Glaukos (NYSE:GKOS) last posted its earnings results on Wednesday, May 1st. The medical instruments supplier reported ($0.70) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.12). Glaukos had a negative return on equity of 24.36% and a negative net margin of 43.15%. The company had revenue of $85.60 million for the quarter, compared to analyst estimates of $79.60 million. During the same quarter in the prior year, the business posted ($0.59) EPS. The business’s quarterly revenue was up 15.8% compared to the same quarter last year. As a group, sell-side analysts expect that Glaukos Co. will post -2.16 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.