Glaukos (NYSE:GKOS) Shares Up 7.8% – Still a Buy?

Glaukos Corporation (NYSE:GKOS)’s stock price shot up 7.8% during mid-day trading on Thursday . The company traded as high as $112.30 and last traded at $112.5510. 811,734 shares traded hands during trading, an increase of 11% from the average session volume of 728,627 shares. The stock had previously closed at $104.43.

Analyst Ratings Changes

Several equities research analysts recently issued reports on GKOS shares. Stephens boosted their price target on Glaukos from $115.00 to $145.00 and gave the company an “overweight” rating in a research note on Friday, January 2nd. Wells Fargo & Company upped their target price on Glaukos from $120.00 to $122.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $138.00 price target on shares of Glaukos in a research note on Friday, January 9th. Stifel Nicolaus set a $115.00 price objective on shares of Glaukos in a research report on Monday, October 27th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Glaukos in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $127.92.

Glaukos Stock Up 9.4%

The company has a market capitalization of $6.56 billion, a P/E ratio of -74.21 and a beta of 0.67. 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’s fifty day moving average is $105.91 and its 200-day moving average is $95.34.

Glaukos (NYSE:GKOS) last announced its quarterly earnings results on Wednesday, October 29th. The medical instruments supplier reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.11. The company had revenue of $133.54 million during the quarter, compared to the consensus estimate of $122.55 million. Glaukos had a negative net margin of 18.65% and a negative return on equity of 7.52%. The company’s revenue for the quarter was up 38.1% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.28) earnings per share. As a group, equities research analysts predict that Glaukos Corporation will post -1.08 EPS for the current year.

Insider Activity

In other news, COO Joseph E. Gilliam sold 19,340 shares of Glaukos stock in a transaction on 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 transaction, the chief operating officer owned 92,366 shares in the company, valued at approximately $8,312,940. The trade was a 17.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Alex R. Thurman sold 315 shares of the stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $105.00, for a total value of $33,075.00. Following the completion of the sale, the chief financial officer owned 50,488 shares of the company’s stock, valued at $5,301,240. The trade was a 0.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 24,655 shares of company stock valued at $2,310,025 over the last quarter. 5.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Glaukos

A number of institutional investors have recently made changes to their positions in the stock. Riverbridge Partners LLC boosted its position in shares of Glaukos by 41.0% during the 3rd quarter. Riverbridge Partners LLC now owns 569,644 shares of the medical instruments supplier’s stock worth $46,454,000 after purchasing an additional 165,673 shares in the last quarter. Holocene Advisors LP grew its stake in Glaukos by 40.1% in the second quarter. Holocene Advisors LP now owns 1,045,886 shares of the medical instruments supplier’s stock valued at $108,030,000 after acquiring an additional 299,118 shares during the period. Baird Financial Group Inc. increased its holdings in shares of Glaukos by 17.7% during the second quarter. Baird Financial Group Inc. now owns 63,379 shares of the medical instruments supplier’s stock valued at $6,546,000 after acquiring an additional 9,545 shares in the last quarter. State of New Jersey Common Pension Fund D raised its position in shares of Glaukos by 4.2% during the second quarter. State of New Jersey Common Pension Fund D now owns 19,905 shares of the medical instruments supplier’s stock worth $2,056,000 after purchasing an additional 800 shares during the period. Finally, Divisadero Street Capital Management LP acquired a new stake in Glaukos in the 2nd quarter valued at $10,514,000. Institutional investors own 99.04% of the company’s stock.

Glaukos Company Profile

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.