Glaukos (NYSE:GKOS) Hits New 12-Month High – Here’s What Happened

Glaukos Corporation (NYSE:GKOS) reached a new 52-week high during trading on Wednesday . The company traded as high as $184.51 and last traded at $184.09, with a volume of 282727 shares. The stock had previously closed at $182.00.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on GKOS. Stifel Nicolaus increased their price target on shares of Glaukos from $175.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Wells Fargo & Company boosted their target price on shares of Glaukos from $138.00 to $178.00 and gave the company an “overweight” rating in a research note on Thursday, July 30th. Truist Financial increased their target price on shares of Glaukos from $180.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Piper Sandler restated an “overweight” rating and set a $195.00 price target (up from $165.00) on shares of Glaukos in a research note on Thursday, July 30th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Glaukos in a report on Friday, July 17th. Twelve analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $177.33.

Glaukos Trading Up 1.1%

The firm has a fifty day moving average of $147.23 and a two-hundred day moving average of $128.06. The company has a market cap of $10.85 billion, a PE ratio of -56.60 and a beta of 0.78. The company has a current ratio of 5.04, a quick ratio of 4.46 and a debt-to-equity ratio of 0.10.

Glaukos (NYSE:GKOS) last released its quarterly earnings data on Wednesday, July 29th. The medical instruments supplier reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.07. The business had revenue of $185.61 million for the quarter, compared to the consensus estimate of $150.93 million. Glaukos had a negative net margin of 30.68% and a negative return on equity of 6.37%. The company’s revenue was up 49.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.24) earnings per share. As a group, sell-side analysts predict that Glaukos Corporation will post -0.35 EPS for the current year.

Insider Activity at Glaukos

In related news, Director Leana Wen sold 525 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $167.63, for a total value of $88,005.75. Following the completion of the transaction, the director directly owned 21,092 shares of the company’s stock, valued at approximately $3,535,651.96. This trade represents a 2.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gilbert H. Kliman sold 5,000 shares of Glaukos stock in a transaction that occurred 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 owned 35,528 shares of the company’s stock, valued at $5,000,921.28. This represents a 12.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 55,525 shares of company stock worth $9,044,406. 5.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Glaukos

Several hedge funds have recently made changes to their positions in GKOS. Allworth Financial LP bought a new position in Glaukos in the 2nd quarter worth about $28,000. First Horizon Corp increased 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 valued at $27,000 after buying an additional 223 shares during the period. Los Angeles Capital Management LLC purchased a new stake in shares of Glaukos in the fourth quarter worth about $28,000. Larson Financial Group LLC lifted its holdings in shares of Glaukos by 62.0% in the fourth quarter. Larson Financial Group LLC now owns 345 shares of the medical instruments supplier’s stock worth $39,000 after buying an additional 132 shares in the last quarter. Finally, Parallel Advisors LLC lifted its holdings in shares of Glaukos by 159.2% in the first quarter. Parallel Advisors LLC now owns 368 shares of the medical instruments supplier’s stock worth $40,000 after buying an additional 226 shares in the last quarter. 99.04% of the stock is currently owned by hedge funds and other 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.