Glaukos (NYSE:GKOS) Reaches New 52-Week High After Analyst Upgrade

Shares of Glaukos Co. (NYSE:GKOS) hit a new 52-week high on Thursday after BTIG Research raised their price target on the stock from $107.00 to $112.00. BTIG Research currently has a buy rating on the stock. Glaukos traded as high as $104.96 and last traded at $104.19, with a volume of 78770 shares. The stock had previously closed at $98.91.

Several other analysts have also weighed in on the company. Mizuho boosted their price objective on Glaukos from $85.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Needham & Company LLC boosted their price target on Glaukos from $108.00 to $113.00 and gave the company a “buy” rating in a report on Thursday. Citigroup raised their price objective on Glaukos from $107.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday, March 25th. StockNews.com lowered shares of Glaukos from a “hold” rating to a “sell” rating in a research note on Tuesday, February 27th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $110.00 price target on shares of Glaukos in a research report on Wednesday, April 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $107.00.

Insider Activity at Glaukos

In other news, CFO Alex R. Thurman sold 434 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $95.33, for a total transaction of $41,373.22. Following the completion of the transaction, the chief financial officer now directly owns 54,166 shares in the company, valued at $5,163,644.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Alex R. Thurman sold 434 shares of the firm’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $95.33, for a total transaction of $41,373.22. Following the transaction, the chief financial officer now directly owns 54,166 shares of the company’s stock, valued at $5,163,644.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Alex R. Thurman sold 474 shares of Glaukos stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $90.37, for a total transaction of $42,835.38. Following the sale, the chief financial officer now owns 54,916 shares in the company, valued at $4,962,758.92. The disclosure for this sale can be found here. Insiders have sold a total of 232,881 shares of company stock worth $21,965,491 in the last ninety days. 6.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. National Bank of Canada FI bought a new position in Glaukos during the 4th quarter valued at $46,000. GAMMA Investing LLC acquired a new stake in shares of Glaukos in the fourth quarter valued at $55,000. Quadrant Capital Group LLC boosted its stake in Glaukos by 54.8% during the fourth quarter. Quadrant Capital Group LLC now owns 929 shares of the medical instruments supplier’s stock valued at $74,000 after buying an additional 329 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Glaukos by 17.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,827 shares of the medical instruments supplier’s stock worth $137,000 after acquiring an additional 270 shares during the period. Finally, Caldwell Sutter Capital Inc. raised its position in Glaukos by 5,860.0% in the first quarter. Caldwell Sutter Capital Inc. now owns 1,490 shares of the medical instruments supplier’s stock worth $140,000 after acquiring an additional 1,465 shares in the last quarter. 99.04% of the stock is currently owned by institutional investors.

Glaukos Stock Up 1.4 %

The company has a debt-to-equity ratio of 0.77, a quick ratio of 4.78 and a current ratio of 5.34. The stock’s fifty day simple moving average is $93.33 and its two-hundred day simple moving average is $82.87. The company has a market capitalization of $5.35 billion, a price-to-earnings ratio of -36.98 and a beta of 1.08.

Glaukos (NYSE:GKOS) last issued its earnings results on Wednesday, May 1st. The medical instruments supplier reported ($0.70) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.12). The business had revenue of $85.60 million for the quarter, compared to the consensus estimate of $79.60 million. Glaukos had a negative return on equity of 24.36% and a negative net margin of 43.15%. The company’s quarterly revenue was up 15.8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.59) earnings per share. On average, sell-side analysts anticipate that Glaukos Co. will post -2.16 EPS for the current year.

About Glaukos

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.