Glaukos (NYSE:GKOS) Reaches New 12-Month High Following Analyst Upgrade

Glaukos Co. (NYSE:GKOS - Get Free Report) shares reached a new 52-week high on Thursday after BTIG Research raised their price target on the stock from $107.00 to $112.00. BTIG Research currently has a buy rating on the stock. Glaukos traded as high as $104.96 and last traded at $104.19, with a volume of 78770 shares. The stock had previously closed at $98.91.

A number of other equities research analysts also recently weighed in on GKOS. JPMorgan Chase & Co. lifted their price target on shares of Glaukos from $108.00 to $110.00 and gave the stock an "overweight" rating in a research note on Thursday. Citigroup lifted their price target on shares of Glaukos from $107.00 to $120.00 and gave the stock a "buy" rating in a research note on Monday, March 25th. Mizuho lifted their price target on shares of Glaukos from $85.00 to $100.00 and gave the stock a "neutral" rating in a research note on Thursday, April 11th. Needham & Company LLC lifted their price target on shares of Glaukos from $108.00 to $113.00 and gave the stock a "buy" rating in a research note on Thursday. Finally, Stifel Nicolaus reiterated a "buy" rating and set a $110.00 price target on shares of Glaukos in a research note on Wednesday, April 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $107.00.

Insider Activity at Glaukos

In related news, CFO Alex R. Thurman sold 1,372 shares of Glaukos stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $100.54, for a total value of $137,940.88. Following the completion of the transaction, the chief financial officer now directly owns 52,532 shares of the company's stock, valued at $5,281,567.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Alex R. Thurman sold 1,372 shares of Glaukos stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $100.54, for a total value of $137,940.88. Following the completion of the transaction, the chief financial officer now directly owns 52,532 shares of the company's stock, valued at $5,281,567.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark J. Foley sold 4,560 shares of Glaukos stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $92.87, for a total value of $423,487.20. Following the completion of the transaction, the director now directly owns 33,220 shares of the company's stock, valued at $3,085,141.40. The disclosure for this sale can be found here. Insiders sold 232,881 shares of company stock valued at $21,965,491 over the last ninety days. 6.40% of the stock is owned by insiders.

Institutional Trading of Glaukos

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GKOS. Invesco Ltd. increased its position in Glaukos by 45.5% in the third quarter. Invesco Ltd. now owns 1,450,033 shares of the medical instruments supplier's stock worth $109,115,000 after purchasing an additional 453,756 shares during the period. Norges Bank acquired a new position in shares of Glaukos during the 4th quarter worth about $28,807,000. Rhenman & Partners Asset Management AB grew its position in shares of Glaukos by 236.8% during the 3rd quarter. Rhenman & Partners Asset Management AB now owns 320,000 shares of the medical instruments supplier's stock worth $24,080,000 after buying an additional 225,000 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of Glaukos during the 4th quarter worth about $15,065,000. Finally, Primecap Management Co. CA grew its position in shares of Glaukos by 23.7% during the 4th quarter. Primecap Management Co. CA now owns 790,035 shares of the medical instruments supplier's stock worth $62,800,000 after buying an additional 151,415 shares during the period. 99.04% of the stock is currently owned by institutional investors and hedge funds.

Glaukos Price Performance

The company has a market capitalization of $5.28 billion, a price-to-earnings ratio of -37.82 and a beta of 1.08. The company has a 50-day moving average price of $92.99 and a 200-day moving average price of $82.59. The company has a debt-to-equity ratio of 0.77, a quick ratio of 4.78 and a current ratio of 5.34.

Glaukos (NYSE:GKOS - Get Free Report) last posted its earnings results on Wednesday, May 1st. The medical instruments supplier reported ($0.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.58) by ($0.12). The company had revenue of $85.60 million for the quarter, compared to analyst estimates of $79.60 million. Glaukos had a negative return on equity of 22.67% and a negative net margin of 42.79%. Glaukos's quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.59) earnings per share. On average, equities research analysts expect that Glaukos Co. will post -2.16 EPS for the current fiscal year.

About Glaukos

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.