Glaukos (NYSE:GKOS) Sets New 12-Month High at $102.60

Glaukos Co. (NYSE:GKOS - Get Free Report)'s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $102.60 and last traded at $101.81, with a volume of 32614 shares. The stock had previously closed at $101.10.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on GKOS shares. Truist Financial reiterated a "buy" rating and set a $110.00 target price on shares of Glaukos in a research report on Monday, April 8th. Stifel Nicolaus reaffirmed a "buy" rating and set a $110.00 price target on shares of Glaukos in a report on Wednesday, April 3rd. Needham & Company LLC raised their price objective on shares of Glaukos from $105.00 to $108.00 and gave the company a "buy" rating in a research report on Thursday, February 22nd. Citigroup upped their target price on shares of Glaukos from $107.00 to $120.00 and gave the stock a "buy" rating in a report on Monday, March 25th. Finally, Wells Fargo & Company raised their price target on Glaukos from $83.00 to $103.00 and gave the company an "overweight" rating in a report on Thursday, February 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $99.80.

Glaukos Stock Performance

The stock has a market capitalization of $5.07 billion, a PE ratio of -36.31 and a beta of 1.08. The business's 50 day moving average is $92.08 and its 200 day moving average is $81.28. The company has a current ratio of 5.34, a quick ratio of 4.78 and a debt-to-equity ratio of 0.77.

Glaukos (NYSE:GKOS - Get Free Report) last issued its quarterly earnings results on Wednesday, February 21st. The medical instruments supplier reported ($0.63) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.56) by ($0.07). The business had revenue of $82.40 million for the quarter, compared to the consensus estimate of $81.00 million. Glaukos had a negative return on equity of 22.67% and a negative net margin of 42.79%. Glaukos's revenue was up 15.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.53) earnings per share. On average, equities research analysts predict that Glaukos Co. will post -2.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Joseph E. Gilliam sold 9,476 shares of the firm's stock in a transaction on Monday, January 29th. The stock was sold at an average price of $94.12, for a total transaction of $891,881.12. Following the transaction, the chief operating officer now owns 119,802 shares in the company, valued at $11,275,764.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Glaukos news, CFO Alex R. Thurman sold 434 shares of the stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $95.33, for a total transaction of $41,373.22. Following the sale, the chief financial officer now owns 54,166 shares of the company's stock, valued at approximately $5,163,644.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Joseph E. Gilliam sold 9,476 shares of the business's stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $94.12, for a total transaction of $891,881.12. Following the completion of the transaction, the chief operating officer now owns 119,802 shares of the company's stock, valued at $11,275,764.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 242,357 shares of company stock worth $22,857,372. 7.80% of the stock is currently owned by company insiders.

Institutional Trading of Glaukos

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Brown Capital Management LLC lifted its holdings in shares of Glaukos by 3.4% during the fourth quarter. Brown Capital Management LLC now owns 2,697,794 shares of the medical instruments supplier's stock worth $214,448,000 after purchasing an additional 89,420 shares during the period. Fred Alger Management LLC lifted its stake in Glaukos by 9.2% during the 3rd quarter. Fred Alger Management LLC now owns 1,780,690 shares of the medical instruments supplier's stock valued at $133,997,000 after acquiring an additional 150,102 shares during the period. Invesco Ltd. boosted its holdings in shares of Glaukos by 45.5% in the 3rd quarter. Invesco Ltd. now owns 1,450,033 shares of the medical instruments supplier's stock valued at $109,115,000 after acquiring an additional 453,756 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Glaukos by 3.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 923,526 shares of the medical instruments supplier's stock worth $73,412,000 after purchasing an additional 31,213 shares during the last quarter. Finally, Primecap Management Co. CA lifted its position in Glaukos by 23.7% during the fourth quarter. Primecap Management Co. CA now owns 790,035 shares of the medical instruments supplier's stock valued at $62,800,000 after purchasing an additional 151,415 shares during the period. Institutional investors and hedge funds 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.