Glaukos (NYSE:GKOS) Reaches New 52-Week High - Here's Why

Key Points

• Glaukos (NYSE:GKOS) hit a new 52-week high, trading as high as $148.62 after closing previously at $137.57.
• Recent analyst sentiment is upbeat, with multiple firms reiterating buy/overweight ratings and raising price targets; the consensus target is $149.17 and the stock has a Moderate Buy rating.
• The company’s latest quarterly results beat expectations, with EPS of -$0.18 versus estimates of -$0.30 and revenue of $150.57 million, up 41.2% year over year.

Glaukos Corporation (NYSE:GKOS - Get Free Report) shares hit a new 52-week high on Thursday . The company traded as high as $148.62 and last traded at $147.49, with a volume of 1239916 shares changing hands. The stock had previously closed at $137.57.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. BTIG Research reissued a "buy" rating and issued a $162.00 price objective on shares of Glaukos in a research report on Wednesday, June 10th. Piper Sandler reaffirmed an "overweight" rating and set a $165.00 price target on shares of Glaukos in a research note on Wednesday. Citigroup boosted their price target on Glaukos from $140.00 to $162.00 and gave the company a "buy" rating in a report on Thursday, June 11th. Needham & Company LLC raised their price objective on Glaukos from $136.00 to $150.00 and gave the stock a "buy" rating in a report on Wednesday, June 17th. Finally, Wells Fargo & Company lifted their target price on Glaukos from $135.00 to $138.00 and gave the company an "overweight" rating in a research report on Thursday, April 30th. Twelve analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Glaukos presently has a consensus rating of "Moderate Buy" and an average target price of $149.17.

Glaukos Stock Performance

The firm's fifty day moving average price is $128.28 and its 200 day moving average price is $118.88. The firm has a market cap of $8.66 billion, a P/E ratio of -44.97 and a beta of 0.75. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.73 and a current ratio of 5.43.

Glaukos (NYSE:GKOS - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The medical instruments supplier reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.12. The company had revenue of $150.57 million for the quarter, compared to analyst estimates of $137.00 million. Glaukos had a negative net margin of 34.34% and a negative return on equity of 6.92%. Glaukos's revenue was up 41.2% compared to the same quarter last year. During the same period last year, the company posted ($0.22) earnings per share. Sell-side analysts expect that Glaukos Corporation will post -0.57 EPS for the current fiscal year.

Insider Buying and Selling

In other Glaukos news, Director Leana Wen sold 1,700 shares of Glaukos stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $143.35, for a total value of $243,695.00. Following the transaction, the director owned 19,739 shares in the company, valued at $2,829,585.65. The trade was a 7.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Joseph E. Gilliam sold 19,573 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $143.54, for a total transaction of $2,809,508.42. Following the sale, the chief operating officer directly owned 73,419 shares of the company's stock, valued at approximately $10,538,563.26. The trade was a 21.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 41,273 shares of company stock valued at $5,832,003. 5.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Wealth Alliance LLC lifted its position in Glaukos by 4.5% during the first 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 during the last quarter. Smartleaf Asset Management LLC grew its holdings in Glaukos by 9.7% in the fourth 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 increased 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 purchasing an additional 132 shares in the last quarter. CWM LLC lifted its holdings in shares of Glaukos by 25.2% during the 4th quarter. CWM LLC now owns 710 shares of the medical instruments supplier's stock valued at $80,000 after purchasing an additional 143 shares during the last quarter. Finally, Commonwealth Equity Services LLC lifted its holdings in shares of Glaukos by 1.7% during the 4th 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.

About Glaukos

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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