Glaukos (NYSE:GKOS) Hits New 12-Month High on Analyst Upgrade

Glaukos Co. (NYSE:GKOS)’s stock price hit a new 52-week high during trading on Thursday after Truist Financial raised their price target on the stock from $152.00 to $185.00. Truist Financial currently has a buy rating on the stock. Glaukos traded as high as $148.67 and last traded at $148.16, with a volume of 130576 shares trading hands. The stock had previously closed at $145.14.

A number of other analysts have also issued reports on GKOS. Citigroup upgraded Glaukos from a “neutral” rating to a “buy” rating and increased their target price for the company from $132.00 to $162.00 in a report on Wednesday, December 11th. Morgan Stanley lowered Glaukos from an “equal weight” rating to an “underweight” rating and set a $120.00 price target on the stock. in a research report on Monday, December 2nd. Wells Fargo & Company raised their price objective on Glaukos from $145.00 to $153.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. UBS Group began coverage on Glaukos in a research note on Friday, December 6th. They set a “buy” rating and a $182.00 target price on the stock. Finally, BTIG Research increased their price target on shares of Glaukos from $140.00 to $149.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Glaukos has a consensus rating of “Moderate Buy” and a consensus price target of $145.92.

Insider Buying and Selling

In related news, COO Joseph E. Gilliam sold 2,275 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $138.97, for a total transaction of $316,156.75. Following the completion of the transaction, the chief operating officer now directly owns 102,169 shares in the company, valued at $14,198,425.93. This represents a 2.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gilbert H. Kliman sold 2,000 shares of the stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $144.01, for a total transaction of $288,020.00. Following the completion of the sale, the director now directly owns 32,336 shares of the company’s stock, valued at approximately $4,656,707.36. This trade represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Glaukos

Several institutional investors and hedge funds have recently bought and sold shares of GKOS. Exome Asset Management LLC bought a new position in Glaukos during the third quarter worth about $3,369,000. Franklin Resources Inc. raised its holdings in shares of Glaukos by 80.1% in the 3rd quarter. Franklin Resources Inc. now owns 15,621 shares of the medical instruments supplier’s stock worth $2,031,000 after buying an additional 6,948 shares in the last quarter. Tidal Investments LLC boosted its stake in Glaukos by 83.1% in the 3rd quarter. Tidal Investments LLC now owns 14,908 shares of the medical instruments supplier’s stock valued at $1,942,000 after buying an additional 6,767 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in Glaukos in the third quarter valued at $258,000. Finally, Teachers Retirement System of The State of Kentucky raised its stake in Glaukos by 84.3% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 28,470 shares of the medical instruments supplier’s stock worth $3,709,000 after acquiring an additional 13,019 shares in the last quarter. Institutional investors own 99.04% of the company’s stock.

Glaukos Stock Performance

The company has a quick ratio of 4.71, a current ratio of 5.54 and a debt-to-equity ratio of 0.19. The stock has a fifty day simple moving average of $138.05 and a 200-day simple moving average of $128.01. The company has a market capitalization of $8.32 billion, a P/E ratio of -49.96 and a beta of 1.03.

Glaukos (NYSE:GKOS) last announced its quarterly earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.48) by $0.20. The firm had revenue of $96.70 million during the quarter, compared to the consensus estimate of $91.50 million. Glaukos had a negative net margin of 42.43% and a negative return on equity of 18.99%. The firm’s quarterly revenue was up 23.9% on a year-over-year basis. During the same period last year, the firm posted ($0.50) EPS. Equities analysts forecast that Glaukos Co. will post -1.89 EPS for the current year.

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.