Glaukos (NYSE:GKOS) Reaches New 1-Year High - Should You Buy?

Glaukos Co. (NYSE:GKOS - Get Free Report)'s stock price reached a new 52-week high during trading on Monday . The company traded as high as $154.88 and last traded at $154.47, with a volume of 40438 shares trading hands. The stock had previously closed at $151.45.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on GKOS shares. Wells Fargo & Company lifted their price target on shares of Glaukos from $145.00 to $153.00 and gave the stock an "overweight" rating in a report on Wednesday, December 11th. StockNews.com raised Glaukos from a "sell" rating to a "hold" rating in a research report on Monday, October 21st. JPMorgan Chase & Co. raised their price target on Glaukos from $130.00 to $145.00 and gave the stock an "overweight" rating in a report on Tuesday, November 5th. BTIG Research boosted their price target on Glaukos from $140.00 to $149.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. Finally, UBS Group started coverage on shares of Glaukos in a research report on Friday, December 6th. They issued a "buy" rating and a $182.00 price objective for the company. One research analyst has rated the stock with a sell rating, two have given 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 company presently has an average rating of "Moderate Buy" and a consensus target price of $147.75.

Glaukos Stock Performance

The firm's fifty day simple moving average is $142.09 and its 200 day simple moving average is $130.72. The company has a market capitalization of $8.56 billion, a PE ratio of -51.42 and a beta of 1.03. 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 - Get Free Report) last issued its earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) EPS for the quarter, topping analysts' consensus estimates of ($0.48) by $0.20. The firm had revenue of $96.70 million for the quarter, compared to the consensus estimate of $91.50 million. Glaukos had a negative return on equity of 18.99% and a negative net margin of 42.43%. The company's revenue was up 23.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.50) earnings per share. On average, research analysts predict that Glaukos Co. will post -1.89 EPS for the current year.

Insider Activity at Glaukos

In related news, Director Gilbert H. Kliman sold 10,000 shares of Glaukos stock in a transaction on Friday, December 20th. The shares were sold at an average price of $150.28, for a total value of $1,502,800.00. Following the sale, the director now owns 32,336 shares of the company's stock, valued at approximately $4,859,454.08. This trade represents a 23.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Joseph E. Gilliam sold 3,328 shares of the business's stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $149.85, for a total transaction of $498,700.80. Following the sale, the chief operating officer now directly owns 102,169 shares of the company's stock, valued at $15,310,024.65. This represents a 3.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,603 shares of company stock worth $2,605,678 in the last three months. Company insiders own 6.40% of the company's stock.

Institutional Trading of Glaukos

Several large investors have recently made changes to their positions in the company. Wellington Management Group LLP boosted its stake in Glaukos by 294.5% during the 3rd 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. State Street Corp grew its stake in Glaukos by 5.3% during the 3rd quarter. State Street Corp now owns 1,954,449 shares of the medical instruments supplier's stock valued at $254,626,000 after acquiring an additional 98,109 shares in the last quarter. Fred Alger Management LLC raised its holdings in Glaukos by 3.8% in the 2nd quarter. Fred Alger Management LLC now owns 1,278,723 shares of the medical instruments supplier's stock valued at $151,337,000 after acquiring an additional 47,308 shares during the last quarter. Primecap Management Co. CA raised its holdings in Glaukos by 2.0% in the 3rd quarter. Primecap Management Co. CA now owns 1,245,185 shares of the medical instruments supplier's stock valued at $162,223,000 after acquiring an additional 24,370 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Glaukos by 6.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,172,016 shares of the medical instruments supplier's stock worth $152,722,000 after purchasing an additional 66,134 shares in the last quarter. 99.04% of the stock is currently owned by hedge funds and other institutional investors.

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.