Glaukos (NYSE:GKOS) Hits New 52-Week High – Should You Buy?

Glaukos Corporation (NYSE:GKOS) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $184.51 and last traded at $184.09, with a volume of 282727 shares. The stock had previously closed at $182.00.

Wall Street Analyst Weigh In

Several brokerages have commented on GKOS. Truist Financial raised their price target on shares of Glaukos from $180.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Glaukos in a research report on Friday, July 17th. Stifel Nicolaus lifted their price objective on Glaukos from $175.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Citigroup boosted their target price on Glaukos from $175.00 to $188.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Finally, William Blair restated an “outperform” rating on shares of Glaukos in a research note on Tuesday, May 26th. Twelve research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $177.33.

Glaukos Stock Performance

The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.46 and a current ratio of 5.04. The stock has a market cap of $10.85 billion, a PE ratio of -56.60 and a beta of 0.78. The company’s 50-day moving average price is $147.23 and its two-hundred day moving average price is $128.06.

Glaukos (NYSE:GKOS) last announced its earnings results on Wednesday, July 29th. The medical instruments supplier reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.07. The company had revenue of $185.61 million during the quarter, compared to analyst estimates of $150.93 million. Glaukos had a negative net margin of 30.68% and a negative return on equity of 6.37%. The firm’s quarterly revenue was up 49.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.24) earnings per share. On average, equities research analysts forecast that Glaukos Corporation will post -0.35 EPS for the current year.

Insider Transactions at Glaukos

In related news, CFO Alex R. Thurman sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $180.13, for a total value of $3,602,600.00. Following the completion of the sale, the chief financial officer owned 43,906 shares in the company, valued at $7,908,787.78. The trade was a 31.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Leana Wen sold 525 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $167.63, for a total value of $88,005.75. Following the completion of the sale, the director owned 21,092 shares of the company’s stock, valued at $3,535,651.96. The trade was a 2.43% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 55,525 shares of company stock worth $9,044,406. 5.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Stephens Inc. AR purchased a new position in shares of Glaukos during the first quarter valued at approximately $363,000. DNB Asset Management AS lifted its stake in Glaukos by 11.9% in the fourth quarter. DNB Asset Management AS now owns 82,320 shares of the medical instruments supplier’s stock worth $9,295,000 after acquiring an additional 8,770 shares during the period. Norges Bank bought a new stake in Glaukos in the fourth quarter valued at $60,536,000. Goldman Sachs Group Inc. increased its position in Glaukos by 209.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,350,425 shares of the medical instruments supplier’s stock valued at $152,476,000 after purchasing an additional 913,458 shares during the period. Finally, Landscape Capital Management L.L.C. increased its position in Glaukos by 125.3% during the 4th quarter. Landscape Capital Management L.L.C. now owns 23,017 shares of the medical instruments supplier’s stock valued at $2,599,000 after purchasing an additional 12,799 shares during the period. 99.04% of the stock is owned by hedge funds and other institutional investors.

About Glaukos

Glaukos Corporation is a medical technology company specializing in the development, manufacturing and commercialization of innovative therapies for patients with glaucoma and other chronic eye diseases. The company’s core offerings focus on micro-invasive glaucoma surgery (MIGS), designed to reduce intraocular pressure and manage glaucoma more safely and effectively than traditional surgical approaches. Glaukos’s flagship products include the iStent, iStent inject and iStent infinite trabecular micro-bypass stents, which are implanted during cataract surgery to improve aqueous outflow and help control eye pressure.

Beyond its MIGS portfolio, Glaukos has expanded into sustained drug-delivery solutions.