Glaukos (NYSE:GKOS) Trading Up 7.6% Following Earnings Beat

Glaukos Corporation (NYSE:GKOS)’s share price shot up 7.6% during trading on Wednesday following a stronger than expected earnings report. The company traded as high as $159.80 and last traded at $162.7730. Approximately 1,496,133 shares were traded during mid-day trading, an increase of 73% from the average session volume of 864,024 shares. The stock had previously closed at $151.33.

The medical instruments supplier reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.07. The company had revenue of $185.61 million during the quarter, compared to analyst estimates of $150.93 million. Glaukos had a negative net margin of 30.68% and a negative return on equity of 6.33%. The business’s quarterly revenue was up 49.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.24) earnings per share.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Truist Financial increased their price objective on shares of Glaukos from $180.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday. Weiss Ratings reissued a “sell (d-)” rating on shares of Glaukos in a research report on Friday, July 17th. William Blair reiterated an “outperform” rating on shares of Glaukos in a research note on Tuesday, May 26th. HC Wainwright lifted their price objective on Glaukos from $168.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday. Finally, JPMorgan Chase & Co. raised their price target on shares of Glaukos from $120.00 to $140.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Twelve analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $177.33.

Insider Buying and Selling

In related news, CFO Alex R. Thurman sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, July 16th. The stock was sold at an average price of $160.00, for a total transaction of $1,600,000.00. Following the completion of the transaction, the chief financial officer owned 43,906 shares in the company, valued at $7,024,960. The trade was a 18.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gilbert H. Kliman sold 5,000 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $140.76, for a total value of $703,800.00. Following the transaction, the director owned 35,528 shares of the company’s stock, valued at approximately $5,000,921.28. The trade was a 12.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 40,000 shares of company stock worth $6,028,800 over the last quarter. Insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Glaukos

Hedge funds have recently added to or reduced their stakes in the stock. First Horizon Corp grew its position in shares of Glaukos by 1,715.4% during the fourth quarter. First Horizon Corp now owns 236 shares of the medical instruments supplier’s stock worth $27,000 after acquiring an additional 223 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in Glaukos in the 4th quarter valued at about $28,000. Larson Financial Group LLC lifted its position in Glaukos by 62.0% in the 4th quarter. Larson Financial Group LLC now owns 345 shares of the medical instruments supplier’s stock valued at $39,000 after purchasing an additional 132 shares during the last quarter. Parallel Advisors LLC lifted its position in Glaukos by 159.2% in the 1st quarter. Parallel Advisors LLC now owns 368 shares of the medical instruments supplier’s stock valued at $40,000 after purchasing an additional 226 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in Glaukos by 111.4% during the 4th quarter. Farther Finance Advisors LLC now owns 408 shares of the medical instruments supplier’s stock valued at $46,000 after purchasing an additional 215 shares during the period. 99.04% of the stock is currently owned by institutional investors.

Glaukos Price Performance

The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.73 and a current ratio of 5.43. The stock has a market capitalization of $9.81 billion, a price-to-earnings ratio of -51.42 and a beta of 0.75. The business’s 50 day simple moving average is $137.20 and its 200-day simple moving average is $124.78.

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.