Glaukos (NYSE:GKOS) Reaches New 1-Year High After Analyst Upgrade

Shares of Glaukos Co. (NYSE:GKOS) hit a new 52-week high during mid-day trading on Thursday after Wells Fargo & Company raised their price target on the stock from $103.00 to $110.00. Wells Fargo & Company currently has an overweight rating on the stock. Glaukos traded as high as $104.96 and last traded at $104.19, with a volume of 78770 shares trading hands. The stock had previously closed at $98.91.

A number of other equities analysts have also weighed in on the stock. Truist Financial reaffirmed a “buy” rating and issued a $110.00 target price on shares of Glaukos in a research note on Monday, April 8th. Mizuho upped their target price 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. Citigroup upped their target price 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. Needham & Company LLC upped their target price on shares of Glaukos from $108.00 to $113.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, StockNews.com lowered shares of Glaukos from a “hold” rating to a “sell” rating in a research note on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.50.

Insiders Place Their Bets

In other Glaukos news, CFO Alex R. Thurman sold 474 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $90.37, for a total value of $42,835.38. Following the transaction, the chief financial officer now directly owns 54,916 shares of the company’s stock, valued at approximately $4,962,758.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Glaukos news, CFO Alex R. Thurman sold 474 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $90.37, for a total value of $42,835.38. Following the transaction, the chief financial officer now directly owns 54,916 shares of the company’s stock, valued at approximately $4,962,758.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Gilbert H. Kliman sold 5,000 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $88.25, for a total transaction of $441,250.00. Following the transaction, the director now owns 30,620 shares in the company, valued at approximately $2,702,215. The disclosure for this sale can be found here. Insiders have sold 232,881 shares of company stock valued at $21,965,491 in the last three months. 6.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC grew its position in shares of Glaukos by 127.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 166,054 shares of the medical instruments supplier’s stock worth $15,657,000 after purchasing an additional 93,076 shares in the last quarter. Valeo Financial Advisors LLC grew its position in shares of Glaukos by 1.7% during the 1st quarter. Valeo Financial Advisors LLC now owns 8,932 shares of the medical instruments supplier’s stock worth $902,000 after purchasing an additional 150 shares in the last quarter. Caldwell Sutter Capital Inc. grew its position in shares of Glaukos by 5,860.0% during the 1st quarter. Caldwell Sutter Capital Inc. now owns 1,490 shares of the medical instruments supplier’s stock worth $140,000 after purchasing an additional 1,465 shares in the last quarter. SteelPeak Wealth LLC acquired a new position in shares of Glaukos during the 1st quarter worth approximately $343,000. Finally, Nomura Holdings Inc. grew its position in shares of Glaukos by 3.2% during the 4th quarter. Nomura Holdings Inc. now owns 232,034 shares of the medical instruments supplier’s stock worth $18,444,000 after purchasing an additional 7,146 shares in the last quarter. Institutional investors and hedge funds own 99.04% of the company’s stock.

Glaukos Price Performance

The company has a current ratio of 5.34, a quick ratio of 4.78 and a debt-to-equity ratio of 0.77. The firm has a market cap of $5.32 billion, a price-to-earnings ratio of -38.12 and a beta of 1.08. The company’s 50-day moving average is $92.71 and its 200-day moving average is $82.43.

Glaukos (NYSE:GKOS) last posted its quarterly earnings results on Wednesday, February 21st. The medical instruments supplier reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by ($0.07). The firm had revenue of $82.40 million for the quarter, compared to analyst estimates of $81.00 million. Glaukos had a negative return on equity of 22.67% and a negative net margin of 42.79%. The business’s revenue was up 15.7% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.53) EPS. Equities research analysts predict that Glaukos Co. will post -2.16 earnings per share for the current year.

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.