Glaukos (NYSE:GKOS) Hits New 1-Year High – Still a Buy?

Glaukos Co. (NYSE:GKOS) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $154.88 and last traded at $154.47, with a volume of 40438 shares changing hands. The stock had previously closed at $151.45.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on GKOS shares. Piper Sandler set a $140.00 price objective on shares of Glaukos in a research note on Thursday, October 17th. Citigroup upgraded Glaukos from a “neutral” rating to a “buy” rating and raised their price objective for the company from $132.00 to $162.00 in a research note on Wednesday, December 11th. BTIG Research increased their target price on Glaukos from $140.00 to $149.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Truist Financial raised their price target on shares of Glaukos from $152.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Glaukos from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $147.75.

Glaukos Price Performance

The company has a debt-to-equity ratio of 0.19, a current ratio of 5.54 and a quick ratio of 4.71. The company has a fifty day moving average price of $142.09 and a 200 day moving average price of $130.72. The company has a market capitalization of $8.49 billion, a P/E ratio of -51.00 and a beta of 1.03.

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 return on equity of 18.99% and a negative net margin of 42.43%. The firm had revenue of $96.70 million for the quarter, compared to analyst estimates of $91.50 million. During the same period last year, the company earned ($0.50) earnings per share. The firm’s revenue for the quarter was up 23.9% on a year-over-year basis. On average, sell-side analysts forecast that Glaukos Co. will post -1.89 EPS for the current fiscal year.

Insider Activity

In related news, Director Gilbert H. Kliman sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were 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 in the company, valued at $4,859,454.08. This trade represents a 23.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Joseph E. Gilliam sold 2,275 shares of the company’s stock in a transaction that occurred on 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 owns 102,169 shares of the company’s stock, valued at $14,198,425.93. This trade represents a 2.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,603 shares of company stock valued at $2,605,678. Insiders own 6.40% of the company’s stock.

Institutional Trading of Glaukos

Institutional investors have recently modified their holdings of the company. Commonwealth Equity Services LLC lifted its holdings in Glaukos by 20.7% in the 2nd quarter. Commonwealth Equity Services LLC now owns 5,620 shares of the medical instruments supplier’s stock valued at $665,000 after acquiring an additional 963 shares during the last quarter. Natixis Advisors LLC increased its holdings in shares of Glaukos by 12.5% in the second quarter. Natixis Advisors LLC now owns 37,297 shares of the medical instruments supplier’s stock valued at $4,414,000 after buying an additional 4,158 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Glaukos by 3.7% during the 2nd quarter. Rhumbline Advisers now owns 141,091 shares of the medical instruments supplier’s stock valued at $16,698,000 after acquiring an additional 5,079 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of Glaukos by 10.3% during the 2nd quarter. Arizona State Retirement System now owns 14,050 shares of the medical instruments supplier’s stock worth $1,663,000 after acquiring an additional 1,309 shares in the last quarter. Finally, Great Lakes Advisors LLC acquired a new position in shares of Glaukos in the 2nd quarter worth $13,925,000. Institutional investors and hedge funds own 99.04% of the company’s stock.

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.