Glaukos (NYSE:GKOS) Hits New 52-Week High – Time to Buy?

Shares of Glaukos Corporation (NYSE:GKOS) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $151.47 and last traded at $150.6290, with a volume of 710244 shares changing hands. The stock had previously closed at $148.70.

Wall Street Analyst Weigh In

A number of analysts have recently commented on GKOS shares. Citigroup boosted their price target on Glaukos from $162.00 to $175.00 and gave the stock a “buy” rating in a research report on Wednesday. Needham & Company LLC raised their price objective on Glaukos from $136.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, June 17th. JPMorgan Chase & Co. lifted their price objective on Glaukos from $120.00 to $140.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Wall Street Zen raised Glaukos from a “hold” rating to a “buy” rating in a report on Saturday, July 4th. Finally, Piper Sandler reissued an “overweight” rating and issued a $165.00 target price on shares of Glaukos in a research note on Wednesday, July 1st. Thirteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $151.62.

Glaukos Trading Up 1.3%

The firm has a market capitalization of $9.10 billion, a P/E ratio of -47.23 and a beta of 0.75. The company has a current ratio of 5.43, a quick ratio of 4.73 and a debt-to-equity ratio of 0.10. The stock has a 50 day simple moving average of $131.76 and a 200-day simple moving average of $120.46.

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

Insider Buying and Selling at Glaukos

In other news, COO Joseph E. Gilliam sold 19,573 shares of the business’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $143.54, for a total transaction of $2,809,508.42. Following the completion of the sale, the chief operating officer owned 73,419 shares of the company’s stock, valued at $10,538,563.26. The trade was a 21.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Alex R. Thurman sold 10,000 shares of the company’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $140.00, for a total value of $1,400,000.00. Following the completion of the sale, the chief financial officer owned 43,681 shares of the company’s stock, valued at $6,115,340. This trade represents a 18.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 51,273 shares of company stock valued at $7,332,003 over the last three months. Insiders own 5.90% of the company’s stock.

Institutional Trading of Glaukos

Several hedge funds have recently bought and sold shares of the stock. First Horizon Corp raised 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 during the period. Los Angeles Capital Management LLC bought a new position in shares of Glaukos during the 4th quarter valued at approximately $28,000. Larson Financial Group LLC increased its holdings in Glaukos by 62.0% in the 4th quarter. Larson Financial Group LLC now owns 345 shares of the medical instruments supplier’s stock worth $39,000 after acquiring an additional 132 shares in the last quarter. Parallel Advisors LLC increased its holdings in Glaukos by 159.2% in the 1st quarter. Parallel Advisors LLC now owns 368 shares of the medical instruments supplier’s stock worth $40,000 after acquiring an additional 226 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its stake in Glaukos by 111.4% during the 4th quarter. Farther Finance Advisors LLC now owns 408 shares of the medical instruments supplier’s stock worth $46,000 after acquiring an additional 215 shares during the period. 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.