Glaukos (NYSE:GKOS) Sets New 1-Year High – What’s Next?

Glaukos Corporation (NYSE:GKOS) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $156.82 and last traded at $156.72, with a volume of 156020 shares traded. The stock had previously closed at $152.45.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GKOS. HC Wainwright initiated coverage on shares of Glaukos in a research report on Monday, July 6th. They issued a “buy” rating and a $168.00 price target for the company. Stifel Nicolaus set a $170.00 target price on shares of Glaukos in a research note on Thursday, April 30th. William Blair reaffirmed an “outperform” rating on shares of Glaukos in a research report on Tuesday, May 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Glaukos in a report on Tuesday, April 21st. Finally, Citigroup raised their price objective on Glaukos from $162.00 to $175.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Thirteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $154.46.

Glaukos Stock Down 0.9%

The business has a fifty day moving average of $133.91 and a 200 day moving average of $121.79. The stock has a market cap of $9.13 billion, a price-to-earnings ratio of -47.38 and a beta of 0.75. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.43 and a quick ratio of 4.73.

Glaukos (NYSE:GKOS) last posted its earnings results on Wednesday, April 29th. The medical instruments supplier reported ($0.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.12. The firm had revenue of $150.57 million during 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 company’s revenue was up 41.2% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.22) earnings per share. On average, equities analysts predict that Glaukos Corporation will post -0.57 earnings per share for the current year.

Insider Buying and Selling at Glaukos

In other Glaukos news, CFO Alex R. Thurman sold 10,000 shares of the stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $155.00, for a total transaction of $1,550,000.00. Following the transaction, the chief financial officer directly owned 43,681 shares of the company’s stock, valued at $6,770,555. This represents a 18.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gilbert H. Kliman sold 5,000 shares of the firm’s stock in a transaction dated 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 trade represents a 12.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 61,273 shares of company stock worth $8,882,003 in the last 90 days. 5.90% of the stock is currently owned by company insiders.

Institutional Trading of Glaukos

Several large investors have recently made changes to their positions in GKOS. Wealth Alliance LLC raised its stake in shares of Glaukos by 4.5% in the 1st quarter. Wealth Alliance LLC now owns 2,297 shares of the medical instruments supplier’s stock valued at $247,000 after acquiring an additional 98 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in Glaukos by 9.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,383 shares of the medical instruments supplier’s stock worth $158,000 after purchasing an additional 122 shares during the last quarter. Larson Financial Group LLC boosted its position in Glaukos by 62.0% during the fourth quarter. Larson Financial Group LLC now owns 345 shares of the medical instruments supplier’s stock worth $39,000 after purchasing an additional 132 shares during the period. CWM LLC boosted its position in Glaukos by 25.2% during the fourth quarter. CWM LLC now owns 710 shares of the medical instruments supplier’s stock worth $80,000 after purchasing an additional 143 shares during the period. Finally, Commonwealth Equity Services LLC grew its holdings in Glaukos by 1.7% during the fourth quarter. Commonwealth Equity Services LLC now owns 8,383 shares of the medical instruments supplier’s stock valued at $947,000 after purchasing an additional 144 shares during the last quarter. 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.