Glaukos (NYSE:GKOS) Sets New 1-Year High - Here's Why

Glaukos Co. (NYSE:GKOS - Get Free Report) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $136.74 and last traded at $136.74, with a volume of 136685 shares trading hands. The stock had previously closed at $134.08.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Stifel Nicolaus boosted their price target on Glaukos from $130.00 to $145.00 and gave the company a "buy" rating in a research note on Tuesday, September 3rd. Piper Sandler set a $140.00 target price on shares of Glaukos in a research note on Thursday, October 17th. Needham & Company LLC upped their price objective on Glaukos from $131.00 to $137.00 and gave the stock a "buy" rating in a report on Thursday, August 1st. BTIG Research increased their price target on shares of Glaukos from $131.00 to $139.00 and gave the company a "buy" rating in a report on Wednesday, August 28th. Finally, Wells Fargo & Company lifted their price objective on shares of Glaukos from $120.00 to $135.00 and gave the stock an "overweight" rating in a research note on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Glaukos has a consensus rating of "Moderate Buy" and an average target price of $130.45.

Glaukos Price Performance

The company has a market cap of $6.94 billion, a price-to-earnings ratio of -47.83 and a beta of 1.02. The stock has a 50 day simple moving average of $129.22 and a two-hundred day simple moving average of $118.66. The company has a debt-to-equity ratio of 0.19, a current ratio of 5.48 and a quick ratio of 4.67.

Glaukos (NYSE:GKOS - Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The medical instruments supplier reported ($0.52) EPS for the quarter, meeting analysts' consensus estimates of ($0.52). The firm had revenue of $95.70 million for the quarter, compared to analysts' expectations of $88.86 million. Glaukos had a negative return on equity of 22.51% and a negative net margin of 47.39%. The firm's quarterly revenue was up 19.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.55) earnings per share. On average, equities research analysts predict that Glaukos Co. will post -2.16 earnings per share for the current fiscal year.

Insider Activity

In other Glaukos news, COO Joseph E. Gilliam sold 5,000 shares of the firm's stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $129.36, for a total transaction of $646,800.00. Following the transaction, the chief operating officer now owns 102,169 shares of the company's stock, valued at approximately $13,216,581.84. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Aimee S. Weisner sold 25,000 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $120.00, for a total value of $3,000,000.00. Following the completion of the transaction, the director now owns 30,119 shares in the company, valued at $3,614,280. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Joseph E. Gilliam sold 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $129.36, for a total value of $646,800.00. Following the completion of the transaction, the chief operating officer now directly owns 102,169 shares of the company's stock, valued at $13,216,581.84. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,250 shares of company stock worth $4,825,873. 6.40% of the stock is currently owned by company insiders.

Institutional Trading of Glaukos

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SteelPeak Wealth LLC acquired a new position in shares of Glaukos during the first quarter worth $343,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Glaukos by 127.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 166,054 shares of the medical instruments supplier's stock worth $15,657,000 after purchasing an additional 93,076 shares during the last quarter. Caldwell Sutter Capital Inc. boosted its position in Glaukos by 5,860.0% during the 1st quarter. Caldwell Sutter Capital Inc. now owns 1,490 shares of the medical instruments supplier's stock valued at $140,000 after purchasing an additional 1,465 shares during the period. Texas Permanent School Fund Corp boosted its holdings in shares of Glaukos by 1.5% during the first quarter. Texas Permanent School Fund Corp now owns 42,709 shares of the medical instruments supplier's stock valued at $4,027,000 after acquiring an additional 622 shares during the period. Finally, Duality Advisers LP bought a new stake in shares of Glaukos during the first quarter valued at approximately $3,476,000. 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.