Glaukos (NYSE:GKOS) Reaches New 1-Year High – Should You Buy?

Glaukos Corporation (NYSE:GKOS)’s share price reached a new 52-week high during trading on Wednesday. The stock traded as high as $249.37 and last traded at $251.0380, with a volume of 562,966 shares. The stock had previously closed at $233.04.

Analysts Set New Price Targets

GKOS has been the subject of a number of research reports. Zacks Research raised shares of Glaukos from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 28th. BTIG Research upped their price objective on Glaukos from $205.00 to $234.00 and gave the company a “buy” rating in a research note on Thursday, October 29th. Stifel Nicolaus increased their price objective on Glaukos from $190.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, October 29th. Jefferies Financial Group raised their target price on Glaukos from $190.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, September 22nd. Finally, Piper Sandler restated an “overweight” rating and issued a $240.00 target price (up from $195.00) on shares of Glaukos in a research note on Thursday, October 29th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $216.71.

Glaukos Trading Up 8.5%

The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.09 and a current ratio of 4.57. The firm has a market capitalization of $14.97 billion, a PE ratio of -86.08 and a beta of 0.68. The stock’s 50-day simple moving average is $175.28 and its 200-day simple moving average is $142.42.

Glaukos (NYSE:GKOS) last released its earnings results on Wednesday, October 28th. The medical instruments supplier reported $0.47 EPS for the quarter, topping the consensus estimate of ($0.10) by $0.57. The business had revenue of $211.03 million for the quarter, compared to the consensus estimate of $168.04 million. Glaukos had a negative return on equity of 0.97% and a negative net margin of 24.60%. The company’s revenue for the quarter was up 58.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.16) earnings per share. As a group, sell-side analysts expect that Glaukos Corporation will post 0.50 EPS for the current fiscal year.

Insiders Place Their Bets

In other Glaukos news, Director Gilbert H. Kliman sold 2,500 shares of the company’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $190.00, for a total value of $475,000.00. Following the completion of the sale, the director owned 37,406 shares in the company, valued at $7,107,140. This represents a 6.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Alex R. Thurman sold 20,000 shares of the stock in a transaction on Friday, August 7th. The stock was sold at an average price of $180.13, for a total transaction of $3,602,600.00. Following the completion of the sale, the chief financial officer directly owned 43,906 shares of the company’s stock, valued at approximately $7,908,787.78. This trade represents a 31.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 82,500 shares of company stock valued at $14,862,000. Insiders own 5.90% of the company’s stock.

Institutional Trading of Glaukos

Hedge funds have recently modified their holdings of the company. M&G PLC purchased a new stake in Glaukos during the 3rd quarter valued at $14,047,000. Fulcrum Asset Management LLP raised its stake in shares of Glaukos by 91.7% in the third quarter. Fulcrum Asset Management LLP now owns 184 shares of the medical instruments supplier’s stock valued at $29,000 after acquiring an additional 88 shares during the period. Ethic Inc. purchased a new stake in shares of Glaukos in the third quarter valued at $451,000. Pictet Asset Management Holding SA lifted its holdings in shares of Glaukos by 8.4% in the 3rd quarter. Pictet Asset Management Holding SA now owns 8,865 shares of the medical instruments supplier’s stock worth $1,456,000 after acquiring an additional 688 shares during the last quarter. Finally, Parallel Advisors LLC lifted its holdings in shares of Glaukos by 14.4% in the 3rd quarter. Parallel Advisors LLC now owns 438 shares of the medical instruments supplier’s stock worth $72,000 after acquiring an additional 55 shares during the last quarter. 99.04% of the stock is owned by hedge funds and other institutional investors.

Glaukos Company Profile

Glaukos Corporation is an ophthalmic medical-technology company focused on developing and commercializing therapies for chronic eye diseases. The company’s principal areas of focus include glaucoma, corneal disorders and retinal diseases, with an emphasis on treatments that may reduce reliance on conventional pharmaceuticals or more invasive surgical procedures.

Glaukos is best known for its micro-invasive glaucoma surgery (MIGS) products, including the iStent family of implantable devices used to help lower intraocular pressure in patients with glaucoma.