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

Key Points

• Glaukos shares hit a new 52-week high, reaching as much as $148.11 in intraday trading before settling slightly lower. The stock has surged well above its 50-day and 200-day moving averages.
• Analyst sentiment is broadly positive, with multiple firms raising targets or upgrading the stock. The consensus rating is Moderate Buy, and the average price target is $144.42.
• Glaukos recently reported stronger-than-expected quarterly results, beating EPS and revenue estimates, with revenue rising 41.2% year over year. Despite the operational improvement, insiders have sold shares recently, and the company remains unprofitable.

Glaukos Corporation (NYSE:GKOS - Get Free Report) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $148.11 and last traded at $145.5560, with a volume of 161904 shares changing hands. The stock had previously closed at $144.01.

Analysts Set New Price Targets

Several equities analysts have issued reports on GKOS shares. Wall Street Zen raised shares of Glaukos from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. JPMorgan Chase & Co. boosted their price objective on shares of Glaukos from $120.00 to $140.00 and gave the company an "overweight" rating in a research note on Thursday, April 30th. Stifel Nicolaus set a $170.00 target price on shares of Glaukos in a research report on Thursday, April 30th. William Blair upgraded shares of Glaukos to a "strong-buy" rating in a research report on Friday, January 30th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Glaukos in a research report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $144.42.

Glaukos Stock Down 0.5%

The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.73 and a current ratio of 5.43. The firm's 50-day moving average is $117.10 and its 200 day moving average is $111.64. The firm has a market capitalization of $8.42 billion, a PE ratio of -43.60 and a beta of 0.94.

Glaukos (NYSE:GKOS - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The medical instruments supplier reported ($0.18) EPS for the quarter, topping the consensus estimate 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 business had revenue of $150.57 million for the quarter, compared to analyst estimates of $137.00 million. During the same period in the previous year, the firm earned ($0.22) EPS. The business's revenue for the quarter was up 41.2% compared to the same quarter last year. As a group, research analysts forecast that Glaukos Corporation will post -0.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Glaukos news, Director Aimee S. Weisner sold 15,000 shares of the company's stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $117.38, for a total value of $1,760,700.00. Following the transaction, the director directly owned 18,806 shares in the company, valued at approximately $2,207,448.28. This represents a 44.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gilbert H. Kliman sold 5,000 shares of the company's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $135.00, for a total transaction of $675,000.00. Following the completion of the transaction, the director owned 35,528 shares in the company, valued at approximately $4,796,280. This trade represents a 12.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 55,930 shares of company stock worth $7,378,263 in the last 90 days. 5.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GKOS. Janus Henderson Group PLC lifted its holdings in Glaukos by 183.4% in the 4th quarter. Janus Henderson Group PLC now owns 3,018,787 shares of the medical instruments supplier's stock valued at $340,855,000 after purchasing an additional 1,953,578 shares in the last quarter. Primecap Management Co. CA increased its stake in shares of 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 valued at $381,289,000 after acquiring an additional 1,123,140 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of 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 valued at $152,476,000 after acquiring an additional 913,458 shares during the last quarter. Millennium Management LLC increased its stake in shares of Glaukos by 75.3% during the 4th quarter. Millennium Management LLC now owns 1,609,699 shares of the medical instruments supplier's stock valued at $181,751,000 after acquiring an additional 691,289 shares during the last quarter. Finally, UBS Group AG increased its stake in shares of Glaukos by 316.0% during the 4th quarter. UBS Group AG now owns 873,942 shares of the medical instruments supplier's stock valued at $98,677,000 after acquiring an additional 663,849 shares during the last quarter. 99.04% of the stock is currently owned by hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.