Glaukos (NYSE:GKOS) Trading Up 3.4%

Shares of Glaukos Co. (NYSE:GKOS) were up 3.4% on Friday . The stock traded as high as $98.35 and last traded at $98.35. Approximately 105,264 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 666,495 shares. The stock had previously closed at $95.13.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on GKOS shares. Piper Sandler increased their price target on Glaukos from $90.00 to $105.00 and gave the company an “overweight” rating in a research note on Friday, December 22nd. JPMorgan Chase & Co. raised Glaukos from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $66.00 to $91.00 in a research note on Thursday, December 21st. StockNews.com cut Glaukos from a “hold” rating to a “sell” rating in a research note on Tuesday, February 27th. Wells Fargo & Company increased their price target on Glaukos from $83.00 to $103.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd. Finally, Needham & Company LLC raised their target price on Glaukos from $105.00 to $108.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.80.

Glaukos Price Performance

The company has a debt-to-equity ratio of 0.77, a current ratio of 5.34 and a quick ratio of 4.78. The stock has a 50-day simple moving average of $91.88 and a 200-day simple moving average of $80.55.

Glaukos (NYSE:GKOS) last announced its quarterly earnings results on Wednesday, February 21st. The medical instruments supplier reported ($0.63) earnings per share for the quarter, missing the consensus estimate of ($0.56) by ($0.07). The company had revenue of $82.40 million during the quarter, compared to analysts’ expectations of $81.00 million. Glaukos had a negative net margin of 42.79% and a negative return on equity of 22.67%. Glaukos’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.53) earnings per share. On average, equities research analysts predict that Glaukos Co. will post -2.18 EPS for the current fiscal year.

Insider Activity

In related news, COO Joseph E. Gilliam sold 524 shares of Glaukos stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $94.01, for a total transaction of $49,261.24. Following the completion of the sale, the chief operating officer now owns 119,802 shares of the company’s stock, valued at $11,262,586.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Glaukos news, CFO Alex R. Thurman sold 434 shares of Glaukos stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $95.33, for a total transaction of $41,373.22. Following the completion of the sale, the chief financial officer now owns 54,166 shares of the company’s stock, valued at $5,163,644.78. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Joseph E. Gilliam sold 524 shares of Glaukos stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $94.01, for a total value of $49,261.24. Following the sale, the chief operating officer now directly owns 119,802 shares of the company’s stock, valued at approximately $11,262,586.02. The disclosure for this sale can be found here. Over the last three months, insiders sold 242,881 shares of company stock worth $22,906,633. 7.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Glaukos

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Glaukos by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 5,380,720 shares of the medical instruments supplier’s stock valued at $286,470,000 after acquiring an additional 23,473 shares during the last quarter. Brown Capital Management LLC grew its holdings in shares of Glaukos by 3.4% during the 4th quarter. Brown Capital Management LLC now owns 2,697,794 shares of the medical instruments supplier’s stock worth $214,448,000 after acquiring an additional 89,420 shares during the period. Braidwell LP grew its stake in shares of Glaukos by 8.7% in the 1st quarter. Braidwell LP now owns 1,806,651 shares of the medical instruments supplier’s stock worth $90,513,000 after buying an additional 144,800 shares during the last quarter. State Street Corp grew its stake in shares of Glaukos by 1.8% in the 2nd quarter. State Street Corp now owns 1,782,347 shares of the medical instruments supplier’s stock worth $126,921,000 after buying an additional 31,471 shares during the last quarter. Finally, Fred Alger Management LLC lifted its position in Glaukos by 9.2% in the 3rd quarter. Fred Alger Management LLC now owns 1,780,690 shares of the medical instruments supplier’s stock valued at $133,997,000 after acquiring an additional 150,102 shares in the last quarter. Institutional investors own 99.04% of the company’s stock.

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.