Glaukos (NYSE:GKOS) Sets New 52-Week High – What’s Next?

by · The Markets Daily

Shares of Glaukos Corporation (NYSE:GKOS – Get Free Report) hit a new 52-week high during mid-day trading on Wednesday. The company traded as high as $249.37 and last traded at $251.0380, with a volume of 562,966 shares trading hands. The stock had previously closed at $233.04.

Analyst Ratings Changes

GKOS has been the subject of several analyst reports. Wells Fargo & Company raised their price objective on Glaukos from $178.00 to $226.00 and gave the company an “overweight” rating in a research note on Thursday, October 29th. Needham & Company LLC increased their price target on Glaukos from $201.00 to $251.00 and gave the company a “buy” rating in a report on Thursday, October 29th. Zacks Research upgraded Glaukos from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 28th. BTIG Research raised their price target on Glaukos from $205.00 to $234.00 and gave the stock a “buy” rating in a research report on Thursday, October 29th. Finally, HC Wainwright lifted their price objective on shares of Glaukos from $195.00 to $248.00 and gave the stock a “buy” rating in a research note on Thursday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell 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 $216.71.

Read Our Latest Research Report on Glaukos

Glaukos Price Performance

The company has a current ratio of 4.57, a quick ratio of 4.09 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $13.26 billion, a PE ratio of -76.18 and a beta of 0.68. The stock’s 50-day moving average is $177.40 and its two-hundred day moving average is $143.58.

Glaukos (NYSE:GKOS – Get Free Report) last announced its earnings results on Wednesday, October 28th. The medical instruments supplier reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.57. The business had revenue of $211.03 million during the quarter, compared to analyst estimates of $168.04 million. Glaukos had a negative return on equity of 0.97% and a negative net margin of 24.60%. The company’s revenue for the quarter was up 58.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.16) earnings per share. On average, equities analysts predict that Glaukos Corporation will post 0.50 EPS for the current year.

Insider Buying and Selling

In other Glaukos news, COO Joseph Gilliam sold 60,000 shares of the company’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $179.74, for a total value of $10,784,400.00. Following the transaction, the chief operating officer owned 72,588 shares of the company’s stock, valued at $13,046,967.12. This represents a 45.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Gilbert H. Kliman sold 2,500 shares of the company’s stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $253.00, for a total value of $632,500.00. Following the completion of the transaction, the director directly owned 37,406 shares in the company, valued at $9,463,718. This trade represents a 6.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 65,000 shares of company stock valued at $11,891,900 over the last three months. 5.90% of the stock is owned by corporate insiders.

Institutional Trading of Glaukos

A number of large investors have recently made changes to their positions in the stock. Parallel Advisors LLC increased its stake in shares of Glaukos by 14.4% during the third quarter. Parallel Advisors LLC now owns 438 shares of the medical instruments supplier’s stock valued at $72,000 after buying an additional 55 shares during the period. State of Wyoming raised its holdings in shares of Glaukos by 6.8% in the third quarter. State of Wyoming now owns 1,030 shares of the medical instruments supplier’s stock valued at $169,000 after acquiring an additional 66 shares in the last quarter. Fulcrum Asset Management LLP raised its holdings in shares of Glaukos by 91.7% in the third quarter. Fulcrum Asset Management LLP now owns 184 shares of the medical instruments supplier’s stock valued at $29,000 after acquiring an additional 88 shares in the last quarter. Wealth Alliance LLC lifted its stake in Glaukos by 4.5% in the first quarter. Wealth Alliance LLC now owns 2,297 shares of the medical instruments supplier’s stock worth $247,000 after acquiring an additional 98 shares during the period. Finally, Abel Hall LLC lifted its stake in Glaukos by 3.5% in the third quarter. Abel Hall LLC now owns 3,236 shares of the medical instruments supplier’s stock worth $531,000 after acquiring an additional 108 shares during the period. 99.04% of the stock is owned by hedge funds and other institutional investors.

About Glaukos

(Get Free Report)

Glaukos Corporation is an ophthalmic medical-technology company focused on developing and commercializing therapies for chronic eye diseases. The company’s principal areas of focus include glaucoma, corneal disorders and retinal diseases, with an emphasis on treatments that may reduce reliance on conventional pharmaceuticals or more invasive surgical procedures.

Glaukos is best known for its micro-invasive glaucoma surgery (MIGS) products, including the iStent family of implantable devices used to help lower intraocular pressure in patients with glaucoma.

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