Glaukos (NYSE:GKOS) Reaches New 12-Month High – What’s Next?

Glaukos Corporation (NYSE:GKOS) reached a new 52-week high on Wednesday. The company traded as high as $249.37 and last traded at $251.0380, with a volume of 562,966 shares. The stock had previously closed at $233.04.

Analyst Ratings Changes

Several equities analysts recently weighed in on GKOS shares. UBS Group started coverage on Glaukos in a research report on Tuesday, July 28th. They set a “neutral” rating and a $150.00 target price on the stock. Wells Fargo & Company lifted their price target on Glaukos from $178.00 to $226.00 and gave the company an “overweight” rating in a report on Thursday, October 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Glaukos in a research note on Thursday, October 15th. JPMorgan Chase & Co. upped their price objective on shares of Glaukos from $200.00 to $240.00 and gave the company an “overweight” rating in a research note on Thursday, October 29th. Finally, Citigroup increased their price objective on shares of Glaukos from $225.00 to $247.00 and gave the stock a “buy” rating in a report on Thursday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $216.71.

Glaukos Trading Up 8.5%

The firm has a fifty day moving average of $175.28 and a 200-day moving average of $142.42. The stock has a market capitalization of $14.97 billion, a price-to-earnings ratio of -86.08 and a beta of 0.68. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.09 and a current ratio of 4.57.

Glaukos (NYSE:GKOS) last issued its quarterly earnings data on Wednesday, October 28th. The medical instruments supplier reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.57. The firm had revenue of $211.03 million during the quarter, compared to analyst estimates of $168.04 million. Glaukos had a negative return on equity of 0.97% and a negative net margin of 24.60%. Glaukos’s quarterly revenue was up 58.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.16) EPS. As a group, equities analysts predict that Glaukos Corporation will post 0.50 earnings per share for the current fiscal year.

Insider Transactions at Glaukos

In other Glaukos news, COO Joseph Gilliam sold 60,000 shares of the company’s stock in a transaction that occurred on 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 owned 72,588 shares in the company, valued at $13,046,967.12. This represents a 45.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Alex R. Thurman sold 20,000 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $180.13, for a total value of $3,602,600.00. Following the transaction, the chief financial officer directly owned 43,906 shares in the company, valued at approximately $7,908,787.78. This represents a 31.30% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 82,500 shares of company stock valued at $14,862,000. Insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Glaukos

A number of institutional investors have recently made changes to their positions in GKOS. BlackRock Inc. acquired a new stake in Glaukos in the second quarter valued at approximately $1,333,318,000. Jupiter Topco LLC bought a new stake in Glaukos during the second quarter valued at $679,614,000. Primecap Management Co. CA bought a new position in shares of Glaukos during the 2nd quarter worth approximately $424,969,000. Janus Henderson Group PLC grew its stake in shares of Glaukos by 77.2% in the 1st quarter. Janus Henderson Group PLC now owns 5,348,395 shares of the medical instruments supplier’s stock valued at $575,844,000 after buying an additional 2,329,608 shares during the period. Finally, William Blair Investment Management LLC bought a new stake in shares of Glaukos during the second quarter valued at approximately $92,476,000. 99.04% of the stock is currently owned by institutional investors.

About Glaukos

Glaukos Corporation is an ophthalmic medical-technology company focused on developing and commercializing therapies for chronic eye diseases. The company’s principal areas of focus include glaucoma, corneal disorders and retinal diseases, with an emphasis on treatments that may reduce reliance on conventional pharmaceuticals or more invasive surgical procedures.

Glaukos is best known for its micro-invasive glaucoma surgery (MIGS) products, including the iStent family of implantable devices used to help lower intraocular pressure in patients with glaucoma.