Glaukos (NYSE:GKOS) Hits New 1-Year High – Should You Buy?

Glaukos Co. (NYSE:GKOS) reached a new 52-week high during trading on Wednesday . The stock traded as high as $145.84 and last traded at $145.21, with a volume of 85591 shares changing hands. The stock had previously closed at $143.63.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on GKOS shares. Wells Fargo & Company boosted their target price on shares of Glaukos from $135.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. upped their target price on shares of Glaukos from $130.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Stifel Nicolaus lifted their price target on Glaukos from $130.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. BTIG Research upped their price objective on Glaukos from $131.00 to $139.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Finally, Piper Sandler set a $140.00 target price on Glaukos in a research note on Thursday, October 17th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Glaukos has a consensus rating of “Moderate Buy” and an average price target of $134.55.

Glaukos Stock Down 3.3 %

The company has a current ratio of 5.54, a quick ratio of 4.71 and a debt-to-equity ratio of 0.19. The business has a 50-day moving average price of $130.73 and a two-hundred day moving average price of $121.93.

Glaukos (NYSE:GKOS) last posted its quarterly earnings data on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.48) by $0.20. Glaukos had a negative net margin of 42.43% and a negative return on equity of 18.99%. The business had revenue of $96.70 million during the quarter, compared to analysts’ expectations of $91.50 million. During the same quarter in the prior year, the business posted ($0.50) earnings per share. Glaukos’s revenue was up 23.9% compared to the same quarter last year. On average, research analysts expect that Glaukos Co. will post -1.96 earnings per share for the current year.

Insider Activity at Glaukos

In other news, Director Gilbert H. Kliman sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $130.67, for a total value of $392,010.00. Following the sale, the director now directly owns 32,336 shares in the company, valued at approximately $4,225,345.12. This trade represents a 8.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Joseph E. Gilliam sold 5,000 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $129.36, for a total transaction 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 approximately $13,216,581.84. The trade was a 4.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,275 shares of company stock valued at $1,354,967 over the last three months. 6.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. acquired a new position in Glaukos in the 2nd quarter worth about $6,832,000. Natixis acquired a new position in Glaukos in the 1st quarter valued at approximately $614,000. Vanguard Group Inc. lifted its holdings in shares of Glaukos by 1.4% during the first quarter. Vanguard Group Inc. now owns 5,308,897 shares of the medical instruments supplier’s stock worth $500,576,000 after purchasing an additional 72,159 shares during the period. UniSuper Management Pty Ltd bought a new position in Glaukos during the 1st quarter worth $913,000. Finally, WCM Investment Management LLC lifted its stake in shares of Glaukos by 45.7% in the third quarter. WCM Investment Management LLC now owns 99,155 shares of the medical instruments supplier’s stock worth $12,721,000 after acquiring an additional 31,084 shares during the period. 99.04% of the stock is currently owned by institutional investors and hedge funds.

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.