Glaukos (NYSE:GKOS) Hits New 1-Year High – Here’s Why

Glaukos Corporation (NYSE:GKOS) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $156.82 and last traded at $156.72, with a volume of 156020 shares. The stock had previously closed at $152.45.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GKOS. William Blair restated an “outperform” rating on shares of Glaukos in a report on Tuesday, May 26th. JPMorgan Chase & Co. lifted their target price on shares of Glaukos from $120.00 to $140.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. HC Wainwright began coverage on shares of Glaukos in a report on Monday, July 6th. They issued a “buy” rating and a $168.00 target price on the stock. Piper Sandler reiterated an “overweight” rating and set a $165.00 price target on shares of Glaukos in a report on Wednesday, July 1st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Glaukos in a research note on Tuesday, April 21st. Thirteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $151.77.

Glaukos Price Performance

The company has a current ratio of 5.43, a quick ratio of 4.73 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $9.20 billion, a P/E ratio of -47.72 and a beta of 0.75. The business has a fifty day simple moving average of $133.06 and a 200 day simple moving average of $121.23.

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

Insider Transactions at Glaukos

In other Glaukos news, Director Gilbert H. Kliman sold 5,000 shares of the stock in a transaction dated 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 owned 35,528 shares in the company, valued at $5,000,921.28. This trade represents a 12.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Leana Wen sold 1,700 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director directly owned 19,739 shares in the company, valued at approximately $2,829,585.65. This trade represents a 7.93% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 61,273 shares of company stock valued at $8,882,003. Corporate insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Glaukos

A number of large investors have recently modified their holdings of GKOS. Janus Henderson Group PLC increased its holdings in Glaukos by 77.2% during the 1st quarter. Janus Henderson Group PLC now owns 5,348,395 shares of the medical instruments supplier’s stock worth $575,844,000 after acquiring an additional 2,329,608 shares during the period. Wellington Management Group LLP increased its holdings in shares of Glaukos by 10.4% in 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 during the period. Primecap Management Co. CA raised its position in shares of 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 worth $381,289,000 after buying an additional 1,123,140 shares in the last quarter. State Street Corp raised its position in shares of Glaukos by 0.9% in the fourth quarter. State Street Corp now owns 2,122,402 shares of the medical instruments supplier’s stock worth $239,640,000 after buying an additional 18,040 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in Glaukos by 3.5% during 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 during the period. 99.04% of the stock is currently owned by institutional investors.

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.