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

Key Points

• Glaukos hit a new 52-week high, trading as high as $151.47 and ending near $150.63, as the stock rose about 1.3% on the day.
• Analyst sentiment remains broadly positive, with several firms raising price targets and the consensus rating staying at “Moderate Buy” with a consensus target of $150.62.
• The company’s latest earnings beat expectations, with revenue of $150.57 million and EPS of -$0.18, while revenue climbed 41.2% year over year; however, insiders recently sold shares and the company is still unprofitable.

Glaukos Corporation (NYSE:GKOS - Get Free Report)'s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $151.47 and last traded at $150.6290, with a volume of 710244 shares trading hands. The stock had previously closed at $148.70.

Analysts Set New Price Targets

GKOS has been the topic of a number of recent analyst reports. Needham & Company LLC boosted their price objective on shares of Glaukos from $136.00 to $150.00 and gave the stock a "buy" rating in a report on Wednesday, June 17th. BTIG Research restated a "buy" rating and set a $162.00 price target on shares of Glaukos in a research report on Wednesday, June 10th. Piper Sandler reiterated an "overweight" rating and set a $165.00 price objective on shares of Glaukos in a research report on Wednesday, July 1st. Stifel Nicolaus set a $170.00 target price on Glaukos in a report on Thursday, April 30th. Finally, JPMorgan Chase & Co. increased their price objective on Glaukos from $120.00 to $140.00 and gave the stock an "overweight" rating in a report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Glaukos has a consensus rating of "Moderate Buy" and a consensus price target of $150.62.

Glaukos Stock Up 1.3%

The company has a quick ratio of 4.73, a current ratio of 5.43 and a debt-to-equity ratio of 0.10. The company has a market cap of $8.85 billion, a P/E ratio of -45.92 and a beta of 0.75. The firm has a fifty day moving average price of $130.43 and a 200 day moving average price of $119.91.

Glaukos (NYSE:GKOS - Get Free Report) last announced its earnings results on Wednesday, April 29th. The medical instruments supplier reported ($0.18) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.30) by $0.12. Glaukos had a negative net margin of 34.34% and a negative return on equity of 6.92%. The company had revenue of $150.57 million for the quarter, compared to analyst estimates of $137.00 million. During the same period in the prior year, the business earned ($0.22) earnings per share. Glaukos's quarterly revenue was up 41.2% on a year-over-year basis. Equities research analysts forecast that Glaukos Corporation will post -0.57 earnings per share for the current year.

Insider Transactions at Glaukos

In related news, COO Joseph E. Gilliam sold 19,573 shares of the firm's stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $143.54, for a total value of $2,809,508.42. Following the transaction, the chief operating officer owned 73,419 shares in the company, valued at $10,538,563.26. This trade represents a 21.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Alex R. Thurman sold 10,000 shares of Glaukos stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $140.00, for a total value of $1,400,000.00. Following the completion of the sale, the chief financial officer owned 43,681 shares of the company's stock, valued at approximately $6,115,340. The trade was a 18.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 41,273 shares of company stock valued at $5,832,003 over the last quarter. Corporate insiders own 5.90% of the company's stock.

Hedge Funds Weigh In On Glaukos

Several large investors have recently bought and sold shares of GKOS. Janus Henderson Group PLC increased its holdings in shares of Glaukos by 77.2% in the first quarter. Janus Henderson Group PLC now owns 5,348,395 shares of the medical instruments supplier's stock worth $575,844,000 after acquiring an additional 2,329,608 shares in the last quarter. Primecap Management Co. CA increased its stake in Glaukos by 49.8% during the 4th quarter. Primecap Management Co. CA now owns 3,376,928 shares of the medical instruments supplier's stock worth $381,289,000 after purchasing an additional 1,123,140 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Glaukos by 209.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,350,425 shares of the medical instruments supplier's stock worth $152,476,000 after purchasing an additional 913,458 shares in the last quarter. Millennium Management LLC raised its holdings in Glaukos by 75.3% during the 4th quarter. Millennium Management LLC now owns 1,609,699 shares of the medical instruments supplier's stock worth $181,751,000 after buying an additional 691,289 shares during the period. Finally, UBS Group AG lifted its stake in Glaukos by 316.0% in the fourth quarter. UBS Group AG now owns 873,942 shares of the medical instruments supplier's stock valued at $98,677,000 after buying an additional 663,849 shares in the last quarter. 99.04% of the stock is currently owned by institutional investors and hedge funds.

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.

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