Glaukos (NYSE:GKOS) Reaches New 12-Month High - Should You Buy?

Key Points

• Glaukos shares reached a new 52-week high of $190.06, giving the company an approximately $11.19 billion market capitalization.
• Analyst sentiment is broadly positive, with 12 Buy ratings, one Hold and one Sell; the consensus is “Moderate Buy,” though the average $177.33 price target is below the current share price.
• Recent quarterly results exceeded expectations, with EPS of negative $0.14 versus an expected negative $0.21 and revenue of $185.61 million, up 49.6% year over year. However, insiders sold roughly $19.1 million of stock over the past three months.

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

Analyst Ratings Changes

A number of brokerages recently issued reports on GKOS. Stifel Nicolaus upped their price target on shares of Glaukos from $175.00 to $190.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. Wall Street Zen upgraded shares of Glaukos from a "hold" rating to a "buy" rating in a research note on Saturday, August 1st. Truist Financial lifted their target price on shares of Glaukos from $180.00 to $215.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Glaukos in a report on Friday, July 17th. Finally, BTIG Research lifted their target price on Glaukos from $164.00 to $193.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Twelve research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $177.33.

Glaukos Stock Performance

The business's 50 day simple moving average is $153.64 and its two-hundred day simple moving average is $130.28. The firm has a market capitalization of $11.19 billion, a PE ratio of -58.38 and a beta of 0.78. The company has a current ratio of 5.04, a quick ratio of 4.46 and a debt-to-equity ratio of 0.10.

Glaukos (NYSE:GKOS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The medical instruments supplier reported ($0.14) EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $150.93 million. During the same quarter in the previous year, the company posted ($0.24) earnings per share. Glaukos's revenue was up 49.6% compared to the same quarter last year. Research analysts expect that Glaukos Corporation will post -0.35 earnings per share for the current fiscal year.

Insider Activity at Glaukos

In other news, Director Leana Wen sold 525 shares of the stock in a transaction on Friday, July 31st. The shares were sold at an average price of $167.63, for a total value of $88,005.75. Following the completion of the sale, the director directly 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 SEC, which is available at this hyperlink. Also, CFO Alex R. Thurman sold 20,000 shares of the firm's stock in a transaction on Friday, August 7th. The shares were sold at an average price of $180.13, for a total transaction of $3,602,600.00. Following the sale, the chief financial officer owned 43,906 shares in the company, valued at $7,908,787.78. The trade was a 31.30% 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. Over the last three months, insiders have sold 110,525 shares of company stock worth $19,125,006. Corporate insiders own 5.90% 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. First Horizon Corp grew its holdings in Glaukos by 1,715.4% during the 4th quarter. First Horizon Corp now owns 236 shares of the medical instruments supplier's stock valued at $27,000 after buying an additional 223 shares in the last quarter. Allworth Financial LP purchased a new position in shares of Glaukos in the second quarter worth $28,000. Los Angeles Capital Management LLC bought a new position in shares of Glaukos during the fourth quarter worth $28,000. Larson Financial Group LLC boosted its position in shares of 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 acquiring an additional 132 shares during the last quarter. Finally, Parallel Advisors LLC grew its stake in Glaukos by 159.2% during the first quarter. Parallel Advisors LLC now owns 368 shares of the medical instruments supplier's stock valued at $40,000 after acquiring an additional 226 shares in the last quarter. 99.04% of the stock is owned by institutional investors.

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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