Glaukos (NYSE:GKOS) Shares Gap Up to $106.51

Glaukos Co. (NYSE:GKOS - Get Free Report)'s stock price gapped up before the market opened on Monday . The stock had previously closed at $106.51, but opened at $110.00. Glaukos shares last traded at $109.82, with a volume of 104,331 shares.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on GKOS. Wells Fargo & Company lifted their price objective on shares of Glaukos from $103.00 to $110.00 and gave the stock an "overweight" rating in a research note on Thursday. Truist Financial restated a "buy" rating and issued a $125.00 target price (up from $120.00) on shares of Glaukos in a research report on Thursday. BTIG Research boosted their target price on shares of Glaukos from $107.00 to $112.00 and gave the company a "buy" rating in a research report on Thursday. Stifel Nicolaus restated a "buy" rating and issued a $110.00 target price on shares of Glaukos in a research report on Wednesday, April 3rd. Finally, Citigroup boosted their target price on shares of Glaukos from $107.00 to $120.00 and gave the company a "buy" rating in a research report on Monday, March 25th. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $108.64.

Glaukos Stock Performance

The stock's 50 day moving average price is $93.59 and its 200 day moving average price is $83.34. The company has a debt-to-equity ratio of 0.78, a quick ratio of 4.68 and a current ratio of 5.38. The company has a market capitalization of $5.27 billion, a P/E ratio of -36.44 and a beta of 1.08.

Glaukos (NYSE:GKOS - Get Free Report) last released its earnings results on Wednesday, May 1st. The medical instruments supplier reported ($0.70) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.58) by ($0.12). Glaukos had a negative net margin of 43.15% and a negative return on equity of 24.69%. The company had revenue of $85.60 million for the quarter, compared to analyst estimates of $79.60 million. During the same quarter in the previous year, the firm earned ($0.59) EPS. The firm's revenue was up 15.8% on a year-over-year basis. As a group, equities analysts expect that Glaukos Co. will post -2.2 EPS for the current year.

Insiders Place Their Bets

In other Glaukos news, Director Mark J. Foley sold 4,560 shares of the company's stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $92.87, for a total transaction of $423,487.20. Following the transaction, the director now owns 33,220 shares in the company, valued at $3,085,141.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Glaukos news, Director Mark J. Foley sold 4,560 shares of the 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 sale, the director now owns 33,220 shares in the company, valued at approximately $3,085,141.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Alex R. Thurman sold 474 shares of the business's stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $90.37, for a total value of $42,835.38. Following the completion of the transaction, the chief financial officer now owns 54,916 shares in the company, valued at approximately $4,962,758.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 235,382 shares of company stock worth $22,229,471. Insiders own 6.40% of the company's stock.

Institutional Trading of Glaukos

Hedge funds have recently bought and sold shares of the business. Jennison Associates LLC bought a new stake in shares of Glaukos in the fourth quarter valued at $608,000. Natixis Advisors L.P. raised its stake in shares of Glaukos by 4.0% in the third quarter. Natixis Advisors L.P. now owns 33,979 shares of the medical instruments supplier's stock valued at $2,557,000 after buying an additional 1,298 shares during the period. State of New Jersey Common Pension Fund D raised its stake in shares of Glaukos by 26.9% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 41,883 shares of the medical instruments supplier's stock valued at $3,329,000 after buying an additional 8,884 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Glaukos by 5.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 386,790 shares of the medical instruments supplier's stock valued at $29,106,000 after buying an additional 20,415 shares during the period. Finally, Lisanti Capital Growth LLC bought a new stake in shares of Glaukos in the third quarter valued at $6,367,000. 99.04% of the stock is currently owned by institutional investors.

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.