Glaukos (NYSE:GKOS) Shares Up 7.8% – Time to Buy?

by · The Markets Daily

Glaukos Corporation (NYSE:GKOSGet Free Report) rose 7.8% during mid-day trading on Thursday . The company traded as high as $112.30 and last traded at $112.5510. Approximately 811,734 shares were traded during mid-day trading, an increase of 11% from the average daily volume of 728,627 shares. The stock had previously closed at $104.43.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. UBS Group upped their target price on Glaukos from $140.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, December 23rd. BTIG Research reaffirmed a “buy” rating and set a $116.00 price objective on shares of Glaukos in a research note on Friday, January 2nd. Citigroup raised their target price on shares of Glaukos from $113.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Needham & Company LLC restated a “buy” rating and set a $125.00 price target on shares of Glaukos in a report on Wednesday. Finally, Stephens raised their price objective on shares of Glaukos from $115.00 to $145.00 and gave the stock an “overweight” rating in a research note on Friday, January 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $127.92.

View Our Latest Report on GKOS

Glaukos Stock Performance

The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.47 and a current ratio of 5.20. The firm has a market cap of $6.93 billion, a price-to-earnings ratio of -78.31 and a beta of 0.67. The firm’s 50 day moving average is $107.30 and its 200-day moving average is $95.59.

Glaukos (NYSE:GKOSGet Free Report) last posted its earnings results on Wednesday, October 29th. The medical instruments supplier reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.11. Glaukos had a negative return on equity of 7.52% and a negative net margin of 18.65%.The company had revenue of $133.54 million for the quarter, compared to analyst estimates of $122.55 million. During the same period last year, the company earned ($0.28) earnings per share. The business’s revenue was up 38.1% compared to the same quarter last year. Sell-side analysts anticipate that Glaukos Corporation will post -1.08 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Gilbert H. Kliman sold 5,000 shares of Glaukos stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $107.27, for a total value of $536,350.00. Following the transaction, the director owned 34,905 shares in the company, valued at $3,744,259.35. This trade represents a 12.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Joseph E. Gilliam sold 19,340 shares of the company’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $90.00, for a total transaction of $1,740,600.00. Following the sale, the chief operating officer owned 92,366 shares of the company’s stock, valued at $8,312,940. This trade represents a 17.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 24,655 shares of company stock valued at $2,310,025 over the last 90 days. 5.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Glaukos

A number of institutional investors have recently added to or reduced their stakes in the company. UMB Bank n.a. lifted its position in shares of Glaukos by 102.6% in the 3rd quarter. UMB Bank n.a. now owns 312 shares of the medical instruments supplier’s stock worth $25,000 after acquiring an additional 158 shares during the period. REAP Financial Group LLC acquired a new position in shares of Glaukos in the third quarter valued at $40,000. Park Place Capital Corp boosted its stake in Glaukos by 68.4% during the second quarter. Park Place Capital Corp now owns 399 shares of the medical instruments supplier’s stock worth $41,000 after buying an additional 162 shares in the last quarter. AlphaQuest LLC increased its holdings in Glaukos by 5,754.5% in the 2nd quarter. AlphaQuest LLC now owns 644 shares of the medical instruments supplier’s stock valued at $67,000 after buying an additional 633 shares during the period. Finally, SBI Securities Co. Ltd. increased its holdings in Glaukos by 42.9% in the 3rd quarter. SBI Securities Co. Ltd. now owns 1,205 shares of the medical instruments supplier’s stock valued at $98,000 after buying an additional 362 shares during the period. 99.04% of the stock is owned by institutional investors and hedge funds.

About Glaukos

(Get Free Report)

Glaukos Corporation is a medical technology company specializing in the development, manufacturing and commercialization of innovative therapies for patients with glaucoma and other chronic eye diseases. The company’s core offerings focus on micro-invasive glaucoma surgery (MIGS), designed to reduce intraocular pressure and manage glaucoma more safely and effectively than traditional surgical approaches. Glaukos’s flagship products include the iStent, iStent inject and iStent infinite trabecular micro-bypass stents, which are implanted during cataract surgery to improve aqueous outflow and help control eye pressure.

Beyond its MIGS portfolio, Glaukos has expanded into sustained drug-delivery solutions.

Read More