Glaukos (NYSE:GKOS) Sets New 1-Year High – Time to Buy?

Glaukos Co. (NYSE:GKOS)’s stock price reached a new 52-week high during trading on Friday . The company traded as high as $146.09 and last traded at $143.81, with a volume of 87423 shares trading hands. The stock had previously closed at $140.83.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Truist Financial boosted their price objective on Glaukos from $145.00 to $152.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Wells Fargo & Company lifted their target price on shares of Glaukos from $135.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Needham & Company LLC lifted their target price on shares of Glaukos from $131.00 to $137.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. BTIG Research lifted their target price 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. Finally, Piper Sandler set a $140.00 price target on shares of Glaukos in a research note on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $134.55.

Glaukos Price Performance

The company has a market capitalization of $7.98 billion, a PE ratio of -47.86 and a beta of 1.02. The company has a debt-to-equity ratio of 0.19, a current ratio of 5.54 and a quick ratio of 4.71. The stock’s 50 day simple moving average is $132.05 and its 200-day simple moving average is $123.31.

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

Insider Activity

In other Glaukos news, Director Gilbert H. Kliman sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $130.67, for a total transaction of $392,010.00. Following the sale, the director now owns 32,336 shares of the company’s stock, valued at approximately $4,225,345.12. This trade represents a 8.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Joseph E. Gilliam sold 2,275 shares of the company’s stock in a transaction 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 completion of the transaction, the chief operating officer now owns 102,169 shares of the company’s stock, valued at approximately $14,198,425.93. The trade was a 2.18 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Glaukos

A number of institutional investors and hedge funds have recently bought and sold shares of GKOS. Assenagon Asset Management S.A. purchased a new stake in shares of Glaukos in the 2nd quarter valued at about $6,832,000. Natixis purchased a new stake in shares of Glaukos in the 1st quarter valued at about $614,000. Vanguard Group Inc. lifted its holdings in shares of Glaukos by 1.4% in 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 in the 1st quarter valued at about $913,000. Finally, WCM Investment Management LLC lifted its holdings in shares of Glaukos by 45.7% in the 3rd quarter. WCM Investment Management LLC now owns 99,155 shares of the medical instruments supplier’s stock valued at $12,721,000 after purchasing an additional 31,084 shares during the last quarter. 99.04% of the stock is owned by hedge funds and other 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.