Glaukos (NYSE:GKOS) Reaches New 12-Month High Following Analyst Upgrade

Glaukos Co. (NYSE:GKOS) shares reached a new 52-week high on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $130.00 to $145.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Glaukos traded as high as $142.45 and last traded at $140.64, with a volume of 1426189 shares trading hands. The stock had previously closed at $127.86.

A number of other analysts also recently weighed in on GKOS. Needham & Company LLC increased their price target on shares of Glaukos from $131.00 to $137.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Truist Financial increased their target price on shares of Glaukos from $145.00 to $152.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Piper Sandler set a $140.00 price target on Glaukos in a research note on Thursday, October 17th. Citigroup downgraded Glaukos from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $130.00 to $132.00 in a research report on Wednesday, July 10th. Finally, Wells Fargo & Company lifted their price objective on Glaukos from $135.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $134.55.

Insider Buying and Selling at Glaukos

In other news, COO Joseph E. Gilliam sold 5,000 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $129.36, for a total value of $646,800.00. Following the sale, the chief operating officer now owns 102,169 shares of the company’s stock, valued at approximately $13,216,581.84. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Glaukos news, Director Marc Stapley sold 6,250 shares of Glaukos stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $125.93, for a total value of $787,062.50. Following the completion of the transaction, the director now owns 34,076 shares in the company, valued at approximately $4,291,190.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Joseph E. Gilliam sold 5,000 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $129.36, for a total value of $646,800.00. Following the sale, the chief operating officer now owns 102,169 shares in the company, valued at $13,216,581.84. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,525 shares of company stock valued at $2,142,029. 6.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Values First Advisors Inc. acquired a new position in Glaukos during the 3rd quarter worth $25,000. GAMMA Investing LLC raised its holdings in Glaukos by 68.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,192 shares of the medical instruments supplier’s stock worth $141,000 after purchasing an additional 486 shares during the last quarter. KBC Group NV lifted its position in Glaukos by 16.2% during the 3rd quarter. KBC Group NV now owns 1,445 shares of the medical instruments supplier’s stock valued at $188,000 after purchasing an additional 201 shares during the period. Fifth Third Wealth Advisors LLC acquired a new position in Glaukos during the 2nd quarter valued at about $187,000. Finally, Procyon Advisors LLC bought a new position in shares of Glaukos in the 3rd quarter valued at about $210,000. Institutional investors and hedge funds own 99.04% of the company’s stock.

Glaukos Stock Performance

The firm’s 50-day moving average price is $129.59 and its 200 day moving average price is $120.34. The company has a market cap of $7.73 billion, a price-to-earnings ratio of -43.14 and a beta of 1.02. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.67 and a current ratio of 5.48.

Glaukos (NYSE:GKOS) last released its earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.20. Glaukos had a negative net margin of 47.39% and a negative return on equity of 22.51%. The firm had revenue of $96.70 million during the quarter, compared to analyst estimates of $91.50 million. During the same quarter in the previous year, the business earned ($0.50) EPS. The business’s quarterly revenue was up 23.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Glaukos Co. will post -2.16 EPS for the current year.

Glaukos Company Profile

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.