Glaukos (NYSE:GKOS) Reaches New 1-Year High After Analyst Upgrade

Glaukos Co. (NYSE:GKOS)’s share price reached a new 52-week high during trading on Thursday after Truist Financial raised their price target on the stock from $152.00 to $185.00. Truist Financial currently has a buy rating on the stock. Glaukos traded as high as $148.67 and last traded at $148.16, with a volume of 130576 shares. The stock had previously closed at $145.14.

Several other research analysts also recently issued reports on the stock. Stephens upgraded shares of Glaukos to a “strong-buy” rating in a research report on Monday, December 2nd. Wells Fargo & Company upped their target price on shares of Glaukos from $145.00 to $153.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. BTIG Research raised their price target on shares of Glaukos from $140.00 to $149.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. JPMorgan Chase & Co. boosted their price objective on shares of Glaukos from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Finally, StockNews.com upgraded Glaukos from a “sell” rating to a “hold” rating in a research report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Glaukos presently has an average rating of “Moderate Buy” and an average price target of $145.92.

Insider Activity

In related news, COO Joseph E. Gilliam sold 2,275 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were 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 owns 102,169 shares in the company, valued at $14,198,425.93. This represents a 2.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gilbert H. Kliman sold 2,000 shares of Glaukos stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $144.01, for a total value of $288,020.00. Following the transaction, the director now owns 32,336 shares in the company, valued at approximately $4,656,707.36. This represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Glaukos

Large investors have recently modified their holdings of the business. HighTower Advisors LLC raised its holdings in shares of Glaukos by 3.3% during the third quarter. HighTower Advisors LLC now owns 3,207 shares of the medical instruments supplier’s stock worth $416,000 after acquiring an additional 103 shares during the period. EFG Asset Management North America Corp. raised its stake in shares of Glaukos by 0.5% in the 2nd quarter. EFG Asset Management North America Corp. now owns 27,205 shares of the medical instruments supplier’s stock valued at $3,216,000 after purchasing an additional 128 shares during the period. Values First Advisors Inc. acquired a new stake in shares of Glaukos in the 3rd quarter valued at about $25,000. New York State Teachers Retirement System lifted its holdings in shares of Glaukos by 0.4% in the third quarter. New York State Teachers Retirement System now owns 48,143 shares of the medical instruments supplier’s stock valued at $6,272,000 after purchasing an additional 200 shares in the last quarter. Finally, KBC Group NV boosted its position in shares of Glaukos by 16.2% during the third quarter. KBC Group NV now owns 1,445 shares of the medical instruments supplier’s stock worth $188,000 after buying an additional 201 shares during the period. 99.04% of the stock is currently owned by institutional investors.

Glaukos Stock Performance

The stock has a fifty day moving average of $138.05 and a 200-day moving average of $128.01. The firm has a market capitalization of $8.32 billion, a P/E ratio of -49.96 and a beta of 1.03. The company has a quick ratio of 4.71, a current ratio of 5.54 and a debt-to-equity ratio of 0.19.

Glaukos (NYSE:GKOS) last issued its quarterly 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. The company had revenue of $96.70 million during the quarter, compared to analysts’ expectations of $91.50 million. Glaukos had a negative net margin of 42.43% and a negative return on equity of 18.99%. The business’s quarterly revenue was up 23.9% on a year-over-year basis. During the same period last year, the business earned ($0.50) EPS. On average, research analysts anticipate that Glaukos Co. will post -1.89 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.