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

Glaukos Co. (NYSE:GKOS)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $136.74 and last traded at $136.74, with a volume of 136685 shares traded. The stock had previously closed at $134.08.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on GKOS shares. Morgan Stanley upped their target price on shares of Glaukos from $100.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Monday, July 15th. Truist Financial increased their price objective on Glaukos from $145.00 to $152.00 and gave the stock a “buy” rating in a report on Monday, October 14th. BTIG Research boosted their target price on Glaukos from $131.00 to $139.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Piper Sandler set a $140.00 price target on shares of Glaukos in a research note on Thursday, October 17th. Finally, Citigroup lowered shares of Glaukos from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $130.00 to $132.00 in a research report on Wednesday, July 10th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $130.45.

Glaukos Stock Down 4.6 %

The company has a quick ratio of 4.67, a current ratio of 5.48 and a debt-to-equity ratio of 0.19. The stock has a fifty day moving average price of $129.65 and a two-hundred day moving average price of $119.07. The company has a market cap of $6.67 billion, a price-to-earnings ratio of -46.62 and a beta of 1.02.

Glaukos (NYSE:GKOS) last announced its earnings results on Wednesday, July 31st. The medical instruments supplier reported ($0.52) EPS for the quarter, hitting the consensus estimate of ($0.52). The company had revenue of $95.70 million for the quarter, compared to analysts’ expectations of $88.86 million. Glaukos had a negative net margin of 47.39% and a negative return on equity of 22.51%. The business’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same period last year, the firm earned ($0.55) earnings per share. As a group, sell-side analysts expect that Glaukos Co. will post -2.16 EPS for the current year.

Insider Buying and Selling

In other news, Director Aimee S. Weisner sold 25,000 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $120.00, for a total transaction of $3,000,000.00. Following the completion of the transaction, the director now owns 30,119 shares of the company’s stock, valued at approximately $3,614,280. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Gilbert H. Kliman sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $130.67, for a total transaction of $392,010.00. Following the completion of the sale, the director now owns 32,336 shares of the company’s stock, valued at $4,225,345.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Aimee S. Weisner sold 25,000 shares of Glaukos stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $120.00, for a total transaction of $3,000,000.00. Following the completion of the sale, the director now owns 30,119 shares of the company’s stock, valued at $3,614,280. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 39,250 shares of company stock worth $4,825,873. Company insiders own 6.40% of the company’s stock.

Institutional Trading of Glaukos

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. purchased a new stake in shares of Glaukos in the second quarter worth $6,832,000. Natixis bought a new stake in shares of Glaukos during the 1st quarter valued at $614,000. Vanguard Group Inc. grew its position in Glaukos by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 5,308,897 shares of the medical instruments supplier’s stock valued at $500,576,000 after purchasing an additional 72,159 shares during the last quarter. UniSuper Management Pty Ltd purchased a new stake in shares of Glaukos during the first quarter valued at $913,000. Finally, Duality Advisers LP bought a new stake in shares of Glaukos in the first quarter worth approximately $3,476,000. 99.04% of the stock is owned by institutional investors.

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.