Glaukos (NYSE:GKOS) Reaches New 1-Year High – Here’s What Happened

Glaukos Corporation (NYSE:GKOS) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $148.62 and last traded at $147.49, with a volume of 1239916 shares. The stock had previously closed at $137.57.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GKOS. Wells Fargo & Company raised their target price on Glaukos from $135.00 to $138.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Piper Sandler reissued an “overweight” rating and set a $165.00 price target on shares of Glaukos in a report on Wednesday. Weiss Ratings restated a “sell (d-)” rating on shares of Glaukos in a research note on Tuesday, April 21st. William Blair reaffirmed an “outperform” rating on shares of Glaukos in a report on Tuesday, May 26th. Finally, BTIG Research reiterated a “buy” rating and issued a $162.00 target price on shares of Glaukos in a research report on Wednesday, June 10th. Twelve 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $149.17.

Glaukos Stock Performance

The stock has a market cap of $8.66 billion, a P/E ratio of -44.97 and a beta of 0.75. The company has a fifty day moving average of $129.31 and a 200 day moving average of $119.35. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.43 and a quick ratio of 4.73.

Glaukos (NYSE:GKOS) last released its earnings results on Wednesday, April 29th. The medical instruments supplier reported ($0.18) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.12. The firm had revenue of $150.57 million during the quarter, compared to the consensus estimate of $137.00 million. Glaukos had a negative return on equity of 6.92% and a negative net margin of 34.34%.The firm’s revenue for the quarter was up 41.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.22) earnings per share. On average, equities analysts predict that Glaukos Corporation will post -0.57 earnings per share for the current fiscal year.

Insider Transactions at Glaukos

In other Glaukos news, COO Joseph E. Gilliam sold 19,573 shares of the business’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $143.54, for a total value of $2,809,508.42. Following the sale, the chief operating officer directly owned 73,419 shares in the company, valued at approximately $10,538,563.26. The trade was a 21.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Leana Wen sold 1,700 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $143.35, for a total transaction of $243,695.00. Following the completion of the sale, the director owned 19,739 shares in the company, valued at approximately $2,829,585.65. This trade represents a 7.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 41,273 shares of company stock worth $5,832,003. Corporate insiders own 5.90% of the company’s stock.

Institutional Trading of Glaukos

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC lifted its position in shares of Glaukos by 2.6% during the 1st quarter. AQR Capital Management LLC now owns 7,788 shares of the medical instruments supplier’s stock valued at $766,000 after acquiring an additional 198 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of Glaukos by 1,405.9% during the first quarter. Jones Financial Companies Lllp now owns 2,560 shares of the medical instruments supplier’s stock worth $252,000 after purchasing an additional 2,390 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Glaukos by 41.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 229,994 shares of the medical instruments supplier’s stock valued at $22,636,000 after purchasing an additional 67,668 shares during the last quarter. M&T Bank Corp acquired a new position in shares of Glaukos in the 2nd quarter valued at $203,000. Finally, Gamco Investors INC. ET AL boosted its position in shares of Glaukos by 10.7% in the 2nd quarter. Gamco Investors INC. ET AL now owns 8,001 shares of the medical instruments supplier’s stock valued at $826,000 after purchasing an additional 773 shares during the period. 99.04% of the stock is currently owned by institutional investors.

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.