Glaukos (NYSE:GKOS) Reaches New 12-Month High at $121.04

Glaukos Co. (NYSE:GKOS) shares hit a new 52-week high on Tuesday . The company traded as high as $121.04 and last traded at $120.21, with a volume of 108352 shares changing hands. The stock had previously closed at $117.42.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GKOS. Needham & Company LLC increased their target price on Glaukos from $108.00 to $113.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Jefferies Financial Group raised Glaukos from a “hold” rating to a “buy” rating and raised their target price for the company from $84.00 to $125.00 in a report on Monday, May 6th. BTIG Research boosted their target price on shares of Glaukos from $107.00 to $112.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Stifel Nicolaus increased their price target on shares of Glaukos from $110.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, June 5th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Glaukos from $108.00 to $110.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $112.27.

Glaukos Stock Up 0.1 %

The company has a current ratio of 5.38, a quick ratio of 4.68 and a debt-to-equity ratio of 0.78. The business’s 50-day simple moving average is $110.31 and its 200-day simple moving average is $97.07.

Glaukos (NYSE:GKOS) last issued its quarterly earnings data on Wednesday, May 1st. The medical instruments supplier reported ($0.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.58) by ($0.12). The company had revenue of $85.60 million for the quarter, compared to analyst estimates of $79.60 million. Glaukos had a negative return on equity of 24.69% and a negative net margin of 43.15%. The company’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.59) earnings per share. As a group, research analysts anticipate that Glaukos Co. will post -2.24 earnings per share for the current year.

Insider Activity

In related news, CFO Alex R. Thurman sold 353 shares of Glaukos stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $110.51, for a total transaction of $39,010.03. Following the completion of the sale, the chief financial officer now owns 51,647 shares in the company, valued at approximately $5,707,509.97. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Glaukos news, CFO Alex R. Thurman sold 353 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $110.51, for a total value of $39,010.03. Following the transaction, the chief financial officer now directly owns 51,647 shares in the company, valued at approximately $5,707,509.97. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Alex R. Thurman sold 1,372 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $100.54, for a total transaction of $137,940.88. Following the sale, the chief financial officer now directly owns 52,532 shares in the company, valued at $5,281,567.28. The disclosure for this sale can be found here. Insiders have sold 80,367 shares of company stock worth $8,284,190 over the last three months. 6.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of GKOS. Vanguard Group Inc. boosted its holdings in shares of Glaukos by 1.4% during the first quarter. Vanguard Group Inc. now owns 5,308,897 shares of the medical instruments supplier’s stock worth $500,576,000 after purchasing an additional 72,159 shares during the last quarter. Brown Capital Management LLC grew its holdings in Glaukos by 3.4% in the 4th quarter. Brown Capital Management LLC now owns 2,697,794 shares of the medical instruments supplier’s stock valued at $214,448,000 after buying an additional 89,420 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Glaukos by 3.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 923,526 shares of the medical instruments supplier’s stock valued at $73,412,000 after acquiring an additional 31,213 shares during the last quarter. Primecap Management Co. CA lifted its holdings in shares of Glaukos by 23.7% during the 4th quarter. Primecap Management Co. CA now owns 790,035 shares of the medical instruments supplier’s stock worth $62,800,000 after acquiring an additional 151,415 shares during the period. Finally, New York State Common Retirement Fund boosted its position in shares of Glaukos by 0.4% in the fourth quarter. New York State Common Retirement Fund now owns 513,029 shares of the medical instruments supplier’s stock worth $40,781,000 after acquiring an additional 1,867 shares during the last quarter. 99.04% of the stock is currently owned by institutional investors and hedge funds.

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.