Glaukos (NYSE:GKOS) Reaches New 52-Week High – Here’s Why

Glaukos Corporation (NYSE:GKOS)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $148.62 and last traded at $147.49, with a volume of 1239916 shares trading hands. The stock had previously closed at $137.57.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on GKOS shares. Stifel Nicolaus set a $170.00 price target on Glaukos in a report on Thursday, April 30th. William Blair restated an “outperform” rating on shares of Glaukos in a report on Tuesday, May 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Glaukos in a research report on Tuesday, April 21st. Needham & Company LLC lifted their target price on shares of Glaukos from $136.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, June 17th. Finally, Wells Fargo & Company upped their price target on shares of Glaukos from $135.00 to $138.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Twelve investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Glaukos presently has an average rating of “Moderate Buy” and an average target price of $149.17.

Glaukos Price Performance

The stock has a fifty day moving average of $128.28 and a 200 day moving average of $118.88. The stock has a market cap of $8.66 billion, a price-to-earnings ratio of -44.97 and a beta of 0.75. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.43 and a quick ratio of 4.73.

Glaukos (NYSE:GKOS) last released its quarterly earnings data on Wednesday, April 29th. The medical instruments supplier reported ($0.18) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.12. Glaukos had a negative net margin of 34.34% and a negative return on equity of 6.92%. The firm had revenue of $150.57 million for the quarter, compared to analyst estimates of $137.00 million. During the same quarter in the prior year, the business earned ($0.22) earnings per share. The business’s quarterly revenue was up 41.2% compared to the same quarter last year. On average, analysts expect that Glaukos Corporation will post -0.57 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Leana Wen sold 1,700 shares of the stock in a transaction on Friday, May 1st. The shares were sold at an average price of $143.35, for a total transaction of $243,695.00. Following the sale, the director directly owned 19,739 shares of the company’s stock, valued at approximately $2,829,585.65. This represents a 7.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Gilbert H. Kliman sold 5,000 shares of Glaukos stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $140.76, for a total transaction of $703,800.00. Following the completion of the transaction, the director directly owned 35,528 shares of the company’s stock, valued at $5,000,921.28. The trade was a 12.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 41,273 shares of company stock worth $5,832,003 over the last ninety days. 5.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Glaukos

Institutional investors have recently modified their holdings of the business. Janus Henderson Group PLC increased its stake in shares of Glaukos by 77.2% in the 1st quarter. Janus Henderson Group PLC now owns 5,348,395 shares of the medical instruments supplier’s stock valued at $575,844,000 after purchasing an additional 2,329,608 shares in the last quarter. Wellington Management Group LLP boosted its position in Glaukos by 10.4% during the third quarter. Wellington Management Group LLP now owns 3,580,670 shares of the medical instruments supplier’s stock worth $292,004,000 after purchasing an additional 336,266 shares in the last quarter. Primecap Management Co. CA grew its holdings in Glaukos by 49.8% in the fourth quarter. Primecap Management Co. CA now owns 3,376,928 shares of the medical instruments supplier’s stock valued at $381,289,000 after purchasing an additional 1,123,140 shares during the period. State Street Corp grew its holdings in Glaukos by 0.9% in the fourth quarter. State Street Corp now owns 2,122,402 shares of the medical instruments supplier’s stock valued at $239,640,000 after purchasing an additional 18,040 shares during the period. Finally, Ameriprise Financial Inc. increased its position in shares of Glaukos by 3.5% in the second quarter. Ameriprise Financial Inc. now owns 1,999,252 shares of the medical instruments supplier’s stock valued at $206,503,000 after buying an additional 68,497 shares in the last quarter. 99.04% of the stock is currently owned by institutional investors and hedge funds.

About Glaukos

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.