Glaukos (NYSE:GKOS) Stock Price Up 3.9% – Still a Buy?

Glaukos Corporation (NYSE:GKOS) shares rose 3.9% during mid-day trading on Wednesday. The stock traded as high as $173.95 and last traded at $167.8450. 155,260 shares traded hands during trading, a decline of 82% from the average daily volume of 852,006 shares. The stock had previously closed at $161.59.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Stifel Nicolaus increased their price objective on shares of Glaukos from $175.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Truist Financial raised their price target on shares of Glaukos from $180.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. UBS Group started coverage on Glaukos in a research note on Tuesday, July 28th. They set a “neutral” rating and a $150.00 price target on the stock. Wells Fargo & Company boosted their price objective on shares of Glaukos from $138.00 to $178.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Finally, Needham & Company LLC lifted their price objective on shares of Glaukos from $150.00 to $201.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Thirteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $180.54.

Glaukos Stock Up 7.3%

The business’s 50 day moving average is $172.91 and its 200-day moving average is $144.83. The stock has a market cap of $10.23 billion, a price-to-earnings ratio of -53.30 and a beta of 0.69. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.46 and a current ratio of 5.04.

Glaukos (NYSE:GKOS) last posted its quarterly earnings data on Wednesday, July 29th. The medical instruments supplier reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.07. The firm had revenue of $185.61 million during the quarter, compared to the consensus estimate of $150.93 million. Glaukos had a negative return on equity of 6.37% and a negative net margin of 30.68%.The firm’s revenue was up 49.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.24) EPS. On average, sell-side analysts predict that Glaukos Corporation will post -0.32 EPS for the current fiscal year.

Insider Activity at Glaukos

In other Glaukos news, COO Joseph Gilliam sold 60,000 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $179.74, for a total value of $10,784,400.00. Following the sale, the chief operating officer directly owned 72,588 shares of the company’s stock, valued at approximately $13,046,967.12. This represents a 45.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Gilbert H. Kliman sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $190.00, for a total value of $475,000.00. Following the sale, the director owned 37,406 shares of the company’s stock, valued at approximately $7,107,140. The trade was a 6.26% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 103,025 shares of company stock worth $18,100,006 over the last quarter. Company insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Glaukos

A number of institutional investors and hedge funds have recently made changes to their positions in GKOS. Sequoia Financial Advisors LLC lifted its position in Glaukos by 11.3% in the second quarter. Sequoia Financial Advisors LLC now owns 2,311 shares of the medical instruments supplier’s stock valued at $323,000 after purchasing an additional 234 shares during the period. Integrated Wealth Concepts LLC acquired a new position in Glaukos during the second quarter worth about $253,000. IFP Advisors Inc lifted its stake in Glaukos by 523.4% in the 2nd quarter. IFP Advisors Inc now owns 293 shares of the medical instruments supplier’s stock valued at $41,000 after buying an additional 246 shares in the last quarter. Nykredit A S acquired a new stake in shares of Glaukos during the second quarter valued at $274,000. Finally, Parkside Financial Bank & Trust grew its holdings in shares of Glaukos by 20.5% during the second quarter. Parkside Financial Bank & Trust now owns 2,153 shares of the medical instruments supplier’s stock worth $301,000 after buying an additional 367 shares in the last quarter. 99.04% of the stock is owned by hedge funds and other institutional investors.

Glaukos Company Profile

Glaukos Corporation is an ophthalmic medical technology company focused on developing and commercializing products intended to preserve and restore vision. The company’s primary business is minimally invasive glaucoma surgery (MIGS), which is designed to reduce intraocular pressure and potentially lessen patients’ dependence on glaucoma medications.

Glaukos’ glaucoma portfolio includes the iStent, iStent inject and iStent infinite systems, which are used in procedures to improve the eye’s natural fluid outflow.