Glaukos (NYSE:GKOS) Trading Up 5.7% - Still a Buy?

Glaukos Co. (NYSE:GKOS - Get Free Report)'s share price shot up 5.7% during mid-day trading on Wednesday . The stock traded as high as $100.86 and last traded at $101.12. 523,628 shares were traded during trading, a decline of 27% from the average session volume of 715,694 shares. The stock had previously closed at $95.64.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GKOS. Piper Sandler decreased their price target on Glaukos from $180.00 to $165.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Needham & Company LLC decreased their price target on Glaukos from $176.00 to $115.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Morgan Stanley decreased their price target on Glaukos from $110.00 to $72.00 and set an "underweight" rating for the company in a report on Tuesday, May 6th. Truist Financial restated a "buy" rating and issued a $135.00 price objective (down previously from $140.00) on shares of Glaukos in a research note on Thursday, May 1st. Finally, Stephens reduced their price objective on Glaukos from $140.00 to $115.00 and set an "overweight" rating for the company in a research note on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $134.67.

Glaukos Price Performance

The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.71 and a current ratio of 5.54. The company has a market cap of $5.58 billion, a P/E ratio of -34.04 and a beta of 0.80. The firm has a 50 day moving average price of $92.76 and a two-hundred day moving average price of $119.98.

Glaukos (NYSE:GKOS - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The medical instruments supplier reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.11. The company had revenue of $106.66 million during the quarter, compared to the consensus estimate of $102.78 million. Glaukos had a negative return on equity of 16.53% and a negative net margin of 39.04%. The firm's quarterly revenue was up 24.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.70) EPS. On average, analysts predict that Glaukos Co. will post -1.08 EPS for the current fiscal year.

Insider Buying and Selling

In other Glaukos news, CFO Alex R. Thurman sold 1,520 shares of the firm's stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $106.84, for a total value of $162,396.80. Following the sale, the chief financial officer now owns 53,431 shares of the company's stock, valued at $5,708,568.04. This trade represents a 2.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 5.80% of the stock is currently owned by insiders.

Institutional Trading of Glaukos

Institutional investors and hedge funds have recently modified their holdings of the business. Bessemer Group Inc. raised its holdings in shares of Glaukos by 133.9% in the 1st quarter. Bessemer Group Inc. now owns 276 shares of the medical instruments supplier's stock valued at $27,000 after acquiring an additional 158 shares in the last quarter. Whipplewood Advisors LLC raised its holdings in shares of Glaukos by 3,957.1% in the 1st quarter. Whipplewood Advisors LLC now owns 284 shares of the medical instruments supplier's stock valued at $28,000 after acquiring an additional 277 shares in the last quarter. IFP Advisors Inc purchased a new stake in shares of Glaukos in the 4th quarter valued at about $43,000. First Horizon Advisors Inc. raised its holdings in shares of Glaukos by 72.9% in the 1st quarter. First Horizon Advisors Inc. now owns 377 shares of the medical instruments supplier's stock valued at $37,000 after acquiring an additional 159 shares in the last quarter. Finally, Versant Capital Management Inc raised its holdings in shares of Glaukos by 583.9% in the 1st quarter. Versant Capital Management Inc now owns 383 shares of the medical instruments supplier's stock valued at $38,000 after acquiring an additional 327 shares in the last quarter. Hedge funds and other institutional investors own 99.04% of the company's stock.

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.