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

Shares of Glaukos Co. (NYSE:GKOS) reached a new 52-week high during mid-day trading on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $130.00 to $145.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Glaukos traded as high as $142.45 and last traded at $140.64, with a volume of 1426189 shares. The stock had previously closed at $127.86.

A number of other brokerages have also issued reports on GKOS. Citigroup lowered Glaukos from a “buy” rating to a “neutral” rating and lifted their target price for the company from $130.00 to $132.00 in a research report on Wednesday, July 10th. Stifel Nicolaus boosted their price objective on shares of Glaukos from $130.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Wells Fargo & Company increased their target price on shares of Glaukos from $135.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday. Morgan Stanley lifted their price target on shares of Glaukos from $100.00 to $120.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. Finally, BTIG Research increased their price objective on shares of Glaukos from $131.00 to $139.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Glaukos has a consensus rating of “Moderate Buy” and a consensus price target of $134.55.

Insider Activity at Glaukos

In other Glaukos news, Director Marc Stapley sold 6,250 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $125.93, for a total transaction of $787,062.50. Following the transaction, the director now owns 34,076 shares of the company’s stock, valued at $4,291,190.68. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, COO Joseph E. Gilliam sold 5,000 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $129.36, for a total value of $646,800.00. Following the transaction, the chief operating officer now directly owns 102,169 shares of the company’s stock, valued at $13,216,581.84. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Marc Stapley sold 6,250 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $125.93, for a total transaction of $787,062.50. Following the sale, the director now owns 34,076 shares of the company’s stock, valued at approximately $4,291,190.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,525 shares of company stock worth $2,142,029. Insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GKOS. Vanguard Group Inc. boosted its holdings in shares of Glaukos by 1.4% during the first quarter. Vanguard Group Inc. now owns 5,308,897 shares of the medical instruments supplier’s stock worth $500,576,000 after acquiring an additional 72,159 shares during the period. Fred Alger Management LLC boosted its stake in Glaukos by 3.8% in the 2nd quarter. Fred Alger Management LLC now owns 1,278,723 shares of the medical instruments supplier’s stock valued at $151,337,000 after purchasing an additional 47,308 shares during the period. Primecap Management Co. CA boosted its stake in Glaukos by 43.9% in the 2nd quarter. Primecap Management Co. CA now owns 1,220,815 shares of the medical instruments supplier’s stock valued at $144,483,000 after purchasing an additional 372,180 shares during the period. Driehaus Capital Management LLC grew its holdings in Glaukos by 24.0% in the 2nd quarter. Driehaus Capital Management LLC now owns 803,650 shares of the medical instruments supplier’s stock valued at $95,112,000 after buying an additional 155,653 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new position in Glaukos during the 2nd quarter worth $67,460,000. 99.04% of the stock is owned by institutional investors.

Glaukos Stock Up 10.0 %

The stock has a fifty day moving average price of $129.59 and a two-hundred day moving average price of $120.34. The company has a market cap of $7.73 billion, a price-to-earnings ratio of -43.14 and a beta of 1.02. The company has a quick ratio of 4.67, a current ratio of 5.48 and a debt-to-equity ratio of 0.19.

Glaukos (NYSE:GKOS) last released its quarterly earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.20. The business had revenue of $96.70 million for the quarter, compared to analyst estimates of $91.50 million. Glaukos had a negative net margin of 47.39% and a negative return on equity of 22.51%. Glaukos’s revenue for the quarter was up 23.9% compared to the same quarter last year. During the same period last year, the firm earned ($0.50) earnings per share. As a group, sell-side analysts expect that Glaukos Co. will post -2.16 EPS for the current 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.