Glaukos (NYSE:GKOS) Reaches New 12-Month High at $130.13

Glaukos Co. (NYSE:GKOS - Get Free Report)'s share price reached a new 52-week high on Wednesday . The company traded as high as $130.13 and last traded at $130.00, with a volume of 718129 shares. The stock had previously closed at $124.69.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Wells Fargo & Company lifted their price target on Glaukos from $120.00 to $135.00 and gave the company an "overweight" rating in a research report on Thursday, August 1st. Needham & Company LLC increased their price target on shares of Glaukos from $131.00 to $137.00 and gave the company a "buy" rating in a research report on Thursday, August 1st. Morgan Stanley upped their target price on Glaukos from $100.00 to $120.00 and gave the company an "equal weight" rating in a report on Monday, July 15th. Jefferies Financial Group raised shares of Glaukos from a "hold" rating to a "buy" rating and raised their target price for the stock from $84.00 to $125.00 in a research report on Monday, May 6th. Finally, BTIG Research lifted their price objective on Glaukos from $112.00 to $131.00 and gave the company a "buy" rating in a research report on Monday, July 15th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $127.73.

Glaukos Stock Up 4.3 %

The company has a market capitalization of $6.55 billion, a PE ratio of -45.14 and a beta of 1.05. The company's fifty day moving average is $119.36 and its 200-day moving average is $105.79. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.68 and a current ratio of 5.48.

Glaukos (NYSE:GKOS - Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The medical instruments supplier reported ($0.52) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.52). Glaukos had a negative net margin of 47.39% and a negative return on equity of 22.51%. The firm had revenue of $95.70 million during the quarter, compared to analysts' expectations of $88.86 million. During the same period in the prior year, the company posted ($0.55) earnings per share. The company's revenue for the quarter was up 19.0% compared to the same quarter last year. As a group, analysts predict that Glaukos Co. will post -2.25 EPS for the current fiscal year.

Insider Buying and Selling at Glaukos

In other Glaukos news, Director Marc Stapley sold 6,250 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $125.93, for a total transaction of $787,062.50. Following the completion of the sale, the director now directly owns 34,076 shares of the company's stock, valued at approximately $4,291,190.68. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Marc Stapley sold 6,250 shares of the firm's stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $125.93, for a total value of $787,062.50. Following the completion of the transaction, the director now directly owns 34,076 shares of the company's stock, valued at $4,291,190.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Joseph E. Gilliam sold 2,250 shares of the business's stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $121.39, for a total transaction of $273,127.50. Following the completion of the sale, the chief operating officer now owns 101,845 shares in the company, valued at $12,362,964.55. The disclosure for this sale can be found here. Insiders have sold a total of 41,000 shares of company stock valued at $4,903,940 over the last ninety days. 6.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Glaukos

Institutional investors and hedge funds have recently modified their holdings of the stock. Truist Financial Corp lifted its position in Glaukos by 8.8% in the second quarter. Truist Financial Corp now owns 18,478 shares of the medical instruments supplier's stock worth $2,187,000 after buying an additional 1,490 shares during the last quarter. Creative Planning grew its holdings in Glaukos by 126.8% during the 2nd quarter. Creative Planning now owns 7,706 shares of the medical instruments supplier's stock valued at $912,000 after purchasing an additional 4,309 shares during the last quarter. Algert Global LLC purchased a new stake in Glaukos in the 2nd quarter worth about $598,000. Driehaus Capital Management LLC lifted its stake in Glaukos by 24.0% in the second quarter. Driehaus Capital Management LLC now owns 803,650 shares of the medical instruments supplier's stock worth $95,112,000 after purchasing an additional 155,653 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of Glaukos during the second quarter valued at approximately $882,000. Hedge funds and other institutional investors 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.