Glaukos (NYSE:GKOS) Trading 7.8% Higher – Here’s What Happened

Glaukos Corporation (NYSE:GKOS)’s share price rose 7.8% during trading on Thursday . The stock traded as high as $112.30 and last traded at $112.5510. Approximately 811,734 shares traded hands during trading, an increase of 11% from the average daily volume of 728,627 shares. The stock had previously closed at $104.43.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on GKOS shares. Citigroup raised their price target on Glaukos from $113.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Stifel Nicolaus set a $115.00 price target on shares of Glaukos in a research note on Monday, October 27th. Needham & Company LLC reissued a “buy” rating and set a $125.00 price objective on shares of Glaukos in a research report on Wednesday. BTIG Research reaffirmed a “buy” rating and issued a $116.00 target price on shares of Glaukos in a research note on Friday, January 2nd. Finally, UBS Group increased their target price on Glaukos from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, December 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $127.92.

Glaukos Trading Up 9.4%

The business has a 50-day moving average of $105.91 and a 200-day moving average of $95.34. The company has a debt-to-equity ratio of 0.09, a current ratio of 5.20 and a quick ratio of 4.47. The firm has a market cap of $6.56 billion, a price-to-earnings ratio of -74.21 and a beta of 0.67.

Glaukos (NYSE:GKOS) last posted its quarterly earnings results on Wednesday, October 29th. The medical instruments supplier reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.11. The firm had revenue of $133.54 million for the quarter, compared to analyst estimates of $122.55 million. Glaukos had a negative return on equity of 7.52% and a negative net margin of 18.65%.The business’s quarterly revenue was up 38.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.28) EPS. Research analysts anticipate that Glaukos Corporation will post -1.08 EPS for the current year.

Insider Activity

In other news, CFO Alex R. Thurman sold 315 shares of Glaukos stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $105.00, for a total value of $33,075.00. Following the completion of the transaction, the chief financial officer owned 50,488 shares of the company’s stock, valued at $5,301,240. This trade represents a 0.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Joseph E. Gilliam sold 19,340 shares of the company’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $90.00, for a total transaction of $1,740,600.00. Following the completion of the sale, the chief operating officer directly owned 92,366 shares in the company, valued at approximately $8,312,940. The trade was a 17.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 24,655 shares of company stock valued at $2,310,025 in the last quarter. Company insiders own 5.80% of the company’s stock.

Hedge Funds Weigh In On Glaukos

Large investors have recently made changes to their positions in the company. UMB Bank n.a. boosted its stake in Glaukos by 102.6% in the 3rd quarter. UMB Bank n.a. now owns 312 shares of the medical instruments supplier’s stock valued at $25,000 after purchasing an additional 158 shares during the period. REAP Financial Group LLC acquired a new stake in shares of Glaukos during the third quarter worth $40,000. Park Place Capital Corp grew its stake in shares of Glaukos by 68.4% in the second quarter. Park Place Capital Corp now owns 399 shares of the medical instruments supplier’s stock valued at $41,000 after acquiring an additional 162 shares in the last quarter. AlphaQuest LLC grew its stake in shares of Glaukos by 5,754.5% in the second quarter. AlphaQuest LLC now owns 644 shares of the medical instruments supplier’s stock valued at $67,000 after acquiring an additional 633 shares in the last quarter. Finally, SBI Securities Co. Ltd. increased its position in Glaukos by 42.9% during the third quarter. SBI Securities Co. Ltd. now owns 1,205 shares of the medical instruments supplier’s stock worth $98,000 after acquiring an additional 362 shares during the period. Institutional investors own 99.04% of the company’s stock.

Glaukos Company Profile

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.