Glaukos (NYSE:GKOS) Reaches New 12-Month High – Still a Buy?

Glaukos Corporation (NYSE:GKOS) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $148.11 and last traded at $145.5560, with a volume of 161904 shares trading hands. The stock had previously closed at $144.01.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Glaukos from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Stifel Nicolaus set a $170.00 price target on shares of Glaukos in a research report on Thursday, April 30th. William Blair upgraded shares of Glaukos to a “strong-buy” rating in a research report on Friday, January 30th. BTIG Research boosted their price target on shares of Glaukos from $131.00 to $141.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Finally, Citigroup boosted their price target on shares of Glaukos from $135.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $144.42.

Glaukos Price Performance

The company has a debt-to-equity ratio of 0.10, a current ratio of 5.43 and a quick ratio of 4.73. The firm’s 50 day moving average is $118.35 and its 200 day moving average is $112.54. The firm has a market cap of $8.23 billion, a P/E ratio of -42.70 and a beta of 0.94.

Glaukos (NYSE:GKOS) last posted its quarterly earnings data on Wednesday, April 29th. The medical instruments supplier reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.12. Glaukos had a negative net margin of 34.34% and a negative return on equity of 6.92%. The business had revenue of $150.57 million for the quarter, compared to analyst estimates of $137.00 million. During the same quarter in the previous year, the firm posted ($0.22) earnings per share. Glaukos’s quarterly revenue was up 41.2% on a year-over-year basis. As a group, analysts anticipate that Glaukos Corporation will post -0.57 earnings per share for the current year.

Insider Buying and Selling at Glaukos

In other news, Director Gilbert H. Kliman sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were 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 in the company, valued at approximately $5,000,921.28. This represents a 12.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Aimee S. Weisner sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $117.38, for a total transaction of $1,760,700.00. Following the completion of the transaction, the director owned 18,806 shares in the company, valued at approximately $2,207,448.28. This represents a 44.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 60,930 shares of company stock valued at $8,082,063 over the last three months. 5.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. UMB Bank n.a. lifted its stake in shares of Glaukos by 102.6% in the third quarter. UMB Bank n.a. now owns 312 shares of the medical instruments supplier’s stock worth $25,000 after buying an additional 158 shares in the last quarter. First Horizon Corp lifted its stake in shares of Glaukos by 1,715.4% in the fourth quarter. First Horizon Corp now owns 236 shares of the medical instruments supplier’s stock worth $27,000 after buying an additional 223 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Glaukos in the fourth quarter worth approximately $28,000. Larson Financial Group LLC lifted its stake 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, REAP Financial Group LLC bought a new position in shares of Glaukos in the third quarter worth approximately $40,000. Institutional investors own 99.04% of the company’s stock.

Glaukos Company Profile

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.