Glaukos (NYSE:GKOS) Hits New 52-Week High – Should You Buy?

Glaukos Corporation (NYSE:GKOS)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $190.06 and last traded at $189.7240, with a volume of 505111 shares trading hands. The stock had previously closed at $184.15.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Stifel Nicolaus lifted their price objective on Glaukos from $175.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Piper Sandler reaffirmed an “overweight” rating and issued a $195.00 price target (up from $165.00) on shares of Glaukos in a report on Thursday, July 30th. Citigroup boosted their price objective on Glaukos from $175.00 to $188.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Needham & Company LLC upped their price objective on Glaukos from $150.00 to $201.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Finally, Wall Street Zen upgraded Glaukos from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Twelve analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $177.33.

Glaukos Stock Performance

The company has a quick ratio of 4.46, a current ratio of 5.04 and a debt-to-equity ratio of 0.10. The business has a 50 day moving average price of $153.64 and a 200 day moving average price of $130.28. The stock has a market cap of $11.19 billion, a P/E ratio of -58.38 and a beta of 0.78.

Glaukos (NYSE:GKOS) last announced its quarterly earnings data on Wednesday, July 29th. The medical instruments supplier reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.07. Glaukos had a negative return on equity of 6.37% and a negative net margin of 30.68%.The company had revenue of $185.61 million for the quarter, compared to the consensus estimate of $150.93 million. During the same quarter in the prior year, the company posted ($0.24) EPS. Glaukos’s quarterly revenue was up 49.6% on a year-over-year basis. As a group, sell-side analysts expect that Glaukos Corporation will post -0.35 EPS for the current year.

Insider Transactions at Glaukos

In related news, Director Leana Wen sold 525 shares of the stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $167.63, for a total value of $88,005.75. Following the transaction, the director owned 21,092 shares of the company’s stock, valued at $3,535,651.96. This represents a 2.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Joseph E. Gilliam sold 60,000 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $179.74, for a total value of $10,784,400.00. Following the transaction, the chief operating officer directly owned 72,588 shares in the company, valued at $13,046,967.12. The trade was a 45.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 110,525 shares of company stock valued at $19,125,006. 5.90% of the stock is currently owned by company insiders.

Institutional Trading of Glaukos

Several hedge funds and other institutional investors have recently bought and sold shares of GKOS. Wellington Management Group LLP boosted its position in Glaukos by 187.1% during the second quarter. Wellington Management Group LLP now owns 428,215 shares of the medical instruments supplier’s stock valued at $59,847,000 after purchasing an additional 279,065 shares in the last quarter. Archer Investment Corp bought a new position in Glaukos in the second quarter worth about $223,000. Jefferies Financial Group Inc. purchased a new stake in shares of Glaukos during the second quarter valued at about $1,098,000. Corient Private Wealth LP purchased a new stake in Glaukos during the second quarter valued at approximately $7,973,000. Finally, Bank of America Corp DE purchased a new stake in Glaukos during the second quarter valued at approximately $82,085,000. 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.