Glaukos (NYSE:GKOS) Sets New 1-Year High – Still a Buy?

Glaukos Co. (NYSE:GKOS) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $145.84 and last traded at $145.21, with a volume of 85591 shares changing hands. The stock had previously closed at $143.63.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. BTIG Research boosted their price target on shares of Glaukos from $131.00 to $139.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. StockNews.com upgraded shares of Glaukos from a “sell” rating to a “hold” rating in a research report on Monday, October 21st. Stifel Nicolaus upped their target price on shares of Glaukos from $130.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Wells Fargo & Company upped their target price on shares of Glaukos from $135.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Finally, Truist Financial boosted their price target on shares of Glaukos from $145.00 to $152.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $134.55.

Glaukos Stock Performance

The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.71 and a current ratio of 5.54. The firm’s 50-day moving average is $130.28 and its 200-day moving average is $121.66.

Glaukos (NYSE:GKOS) last announced its quarterly earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.48) by $0.20. Glaukos had a negative net margin of 42.43% and a negative return on equity of 18.99%. The company had revenue of $96.70 million for the quarter, compared to analysts’ expectations of $91.50 million. During the same quarter in the previous year, the company earned ($0.50) earnings per share. Glaukos’s quarterly revenue was up 23.9% on a year-over-year basis. As a group, equities analysts predict that Glaukos Co. will post -1.96 EPS for the current fiscal year.

Insiders Place Their Bets

In other Glaukos news, COO Joseph E. Gilliam sold 2,275 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $138.97, for a total value of $316,156.75. Following the sale, the chief operating officer now owns 102,169 shares in the company, valued at approximately $14,198,425.93. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Marc Stapley sold 6,250 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $125.93, for a total transaction of $787,062.50. Following the transaction, the director now owns 34,076 shares in the company, valued at $4,291,190.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Joseph E. Gilliam sold 2,275 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $138.97, for a total transaction of $316,156.75. Following the transaction, the chief operating officer now owns 102,169 shares in the company, valued at approximately $14,198,425.93. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,525 shares of company stock worth $2,142,029. 6.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Values First Advisors Inc. bought a new position in Glaukos in the third quarter worth approximately $25,000. Harvest Fund Management Co. Ltd raised its position in Glaukos by 2,263.2% in the third quarter. Harvest Fund Management Co. Ltd now owns 898 shares of the medical instruments supplier’s stock worth $117,000 after acquiring an additional 860 shares during the period. GAMMA Investing LLC raised its position in Glaukos by 68.8% in the second quarter. GAMMA Investing LLC now owns 1,192 shares of the medical instruments supplier’s stock worth $141,000 after acquiring an additional 486 shares during the period. KBC Group NV raised its position in Glaukos by 16.2% in the third quarter. KBC Group NV now owns 1,445 shares of the medical instruments supplier’s stock worth $188,000 after acquiring an additional 201 shares during the period. Finally, Fifth Third Wealth Advisors LLC bought a new position in Glaukos in the second quarter worth approximately $187,000. Institutional investors own 99.04% of the company’s stock.

Glaukos Company Profile

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.