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

Glaukos Co. (NYSE:GKOS)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $161.30 and last traded at $160.84, with a volume of 101067 shares trading hands. The stock had previously closed at $156.39.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Stifel Nicolaus raised their price target on Glaukos from $153.00 to $175.00 and gave the stock a “buy” rating in a research report on Tuesday, December 31st. Wells Fargo & Company lifted their target price on Glaukos from $145.00 to $153.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Truist Financial increased their price objective on Glaukos from $152.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. UBS Group began coverage on shares of Glaukos in a report on Friday, December 6th. They issued a “buy” rating and a $182.00 target price on the stock. Finally, BTIG Research boosted their target price on shares of Glaukos from $140.00 to $149.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $147.75.

Glaukos Stock Performance

The company has a market capitalization of $8.91 billion, a PE ratio of -53.49 and a beta of 1.04. The stock has a 50-day simple moving average of $146.86 and a 200 day simple moving average of $134.31. The company has a debt-to-equity ratio of 0.19, a current ratio of 5.54 and a quick ratio of 4.71.

Glaukos (NYSE:GKOS) last posted its earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.20. Glaukos had a negative return on equity of 18.99% and a negative net margin of 42.43%. The firm had revenue of $96.70 million for the quarter, compared to analyst estimates of $91.50 million. During the same quarter in the prior year, the company earned ($0.50) EPS. Glaukos’s revenue was up 23.9% on a year-over-year basis. Equities analysts anticipate that Glaukos Co. will post -1.89 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Joseph E. Gilliam sold 3,328 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $149.85, for a total transaction of $498,700.80. Following the transaction, the chief operating officer now directly owns 102,169 shares of the company’s stock, valued at approximately $15,310,024.65. The trade was a 3.15 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Gilbert H. Kliman sold 10,000 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $150.28, for a total transaction of $1,502,800.00. Following the completion of the transaction, the director now directly owns 32,336 shares of the company’s stock, valued at approximately $4,859,454.08. The trade was a 23.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,603 shares of company stock worth $2,605,678. 6.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Glaukos

Hedge funds have recently bought and sold shares of the company. Values First Advisors Inc. acquired a new position in Glaukos during the 3rd quarter valued at about $25,000. Harvest Fund Management Co. Ltd raised its holdings in shares of Glaukos by 2,263.2% during the third quarter. Harvest Fund Management Co. Ltd now owns 898 shares of the medical instruments supplier’s stock valued at $117,000 after buying an additional 860 shares during the last quarter. KBC Group NV boosted its position in shares of Glaukos by 16.2% during the third quarter. KBC Group NV now owns 1,445 shares of the medical instruments supplier’s stock worth $188,000 after buying an additional 201 shares during the period. EWA LLC bought a new position in Glaukos in the 3rd quarter worth approximately $209,000. Finally, Procyon Advisors LLC acquired a new stake in Glaukos in the 3rd quarter valued at approximately $210,000. 99.04% of the stock is currently owned by institutional investors and hedge funds.

About Glaukos

Glaukos Corporation, an ophthalmic pharmaceutical and medical technology company, focuses on the development of novel therapies for the treatment of glaucoma, corneal disorders, and retinal diseases. It offers iStent and iStent inject W micro-bypass stents that enhance aqueous humor outflow inserted in cataract surgery to treat mild-to-moderate open-angle glaucoma.