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

Glaukos Co. (NYSE:GKOS)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $161.30 and last traded at $160.84, with a volume of 101067 shares changing hands. The stock had previously closed at $156.39.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. StockNews.com upgraded Glaukos from a “sell” rating to a “hold” rating in a research report on Monday, October 21st. Piper Sandler set a $140.00 target price on Glaukos in a research report on Thursday, October 17th. BTIG Research upped their price objective on shares of Glaukos from $140.00 to $149.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Stephens raised shares of Glaukos to a “strong-buy” rating in a report on Monday, December 2nd. Finally, UBS Group initiated coverage on shares of Glaukos in a research note on Friday, December 6th. They set a “buy” rating and a $182.00 target price for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.75.

Glaukos Trading Up 1.9 %

The firm has a market capitalization of $8.78 billion, a price-to-earnings ratio of -52.74 and a beta of 1.04. The business’s 50 day moving average price is $146.21 and its 200-day moving average price is $133.86. The company has a debt-to-equity ratio of 0.19, a current ratio of 5.54 and a quick ratio of 4.71.

Glaukos (NYSE:GKOS) last issued its earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.48) by $0.20. Glaukos had a negative net margin of 42.43% and a negative return on equity of 18.99%. The company had revenue of $96.70 million for the quarter, compared to analyst estimates of $91.50 million. During the same period in the prior year, the business posted ($0.50) earnings per share. The firm’s revenue for the quarter was up 23.9% compared to the same quarter last year. Equities analysts forecast that Glaukos Co. will post -1.89 EPS for the current fiscal year.

Insider Buying and Selling at Glaukos

In other Glaukos news, Director Gilbert H. Kliman sold 10,000 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $150.28, for a total transaction of $1,502,800.00. Following the transaction, the director now owns 32,336 shares of the company’s stock, valued at $4,859,454.08. This represents a 23.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Joseph E. Gilliam sold 2,275 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $138.97, for a total value of $316,156.75. Following the completion of the sale, the chief operating officer now directly owns 102,169 shares in the company, valued at approximately $14,198,425.93. The trade was a 2.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,603 shares of company stock worth $2,605,678. 6.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Zweig DiMenna Associates LLC purchased a new stake in Glaukos during the fourth quarter worth approximately $8,796,000. Avior Wealth Management LLC purchased a new stake in Glaukos during the 4th quarter worth $390,000. SG Americas Securities LLC increased its holdings in Glaukos by 42.1% in the 4th quarter. SG Americas Securities LLC now owns 3,641 shares of the medical instruments supplier’s stock valued at $546,000 after purchasing an additional 1,078 shares in the last quarter. Zhang Financial LLC purchased a new position in Glaukos in the fourth quarter valued at about $221,000. Finally, LVW Advisors LLC raised its position in Glaukos by 22.2% in the fourth quarter. LVW Advisors LLC now owns 2,273 shares of the medical instruments supplier’s stock valued at $341,000 after purchasing an additional 413 shares during the period. Institutional investors and hedge funds own 99.04% of the company’s stock.

About Glaukos

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.