Glaukos (NYSE:GKOS) Hits New 52-Week High on Analyst Upgrade

Glaukos Co. (NYSE:GKOS - Get Free Report)'s share price hit 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 trading hands. The stock had previously closed at $145.14.

A number of other analysts have also commented on GKOS. JPMorgan Chase & Co. boosted their price objective on Glaukos from $130.00 to $145.00 and gave the stock an "overweight" rating in a report on Tuesday, November 5th. Piper Sandler set a $140.00 price target on Glaukos in a research report on Thursday, October 17th. BTIG Research lifted their price objective on shares of Glaukos from $140.00 to $149.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. Stifel Nicolaus increased their target price on shares of Glaukos from $145.00 to $153.00 and gave the company a "buy" rating in a report on Monday, December 2nd. Finally, Citigroup upgraded shares of Glaukos from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $132.00 to $162.00 in a report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $145.92.

Insiders Place Their Bets

In other news, Director Gilbert H. Kliman sold 2,000 shares of the business's stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $144.01, for a total transaction of $288,020.00. Following the completion of the transaction, the director now owns 32,336 shares of the company's stock, valued at approximately $4,656,707.36. The trade was a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Joseph E. Gilliam sold 2,275 shares of the firm's stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $138.97, for a total transaction 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 $14,198,425.93. This represents a 2.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 6.40% of the company's stock.

Hedge Funds Weigh In On Glaukos

A number of large investors have recently added to or reduced their stakes in GKOS. Wellington Management Group LLP grew its holdings in shares of Glaukos by 294.5% in the third quarter. Wellington Management Group LLP now owns 2,183,766 shares of the medical instruments supplier's stock worth $284,501,000 after purchasing an additional 1,630,270 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Glaukos in the second quarter valued at about $67,460,000. Primecap Management Co. CA raised its stake in shares of Glaukos by 43.9% during the second quarter. Primecap Management Co. CA now owns 1,220,815 shares of the medical instruments supplier's stock valued at $144,483,000 after acquiring an additional 372,180 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Glaukos by 148.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 412,376 shares of the medical instruments supplier's stock worth $48,805,000 after purchasing an additional 246,322 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Glaukos by 47.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 641,761 shares of the medical instruments supplier's stock worth $83,609,000 after purchasing an additional 207,338 shares during the last quarter. Hedge funds and other institutional investors own 99.04% of the company's stock.

Glaukos Stock Performance

The business has a fifty day moving average of $137.26 and a 200-day moving average of $127.64. The company has a market cap of $7.93 billion, a PE ratio of -47.60 and a beta of 1.03. The company has a current ratio of 5.54, a quick ratio of 4.71 and a debt-to-equity ratio of 0.19.

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