Glaukos Corporation (NYSE:GKOS – Get Free Report) hit a new 52-week high on Wednesday . The company traded as high as $151.47 and last traded at $150.6290, with a volume of 710244 shares. The stock had previously closed at $148.70.
Wall Street Analysts Forecast Growth
GKOS has been the subject of several recent research reports. Needham & Company LLC upped their price objective on Glaukos from $136.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, June 17th. HC Wainwright started coverage on Glaukos in a research report on Monday. They set a “buy” rating and a $168.00 price target for the company. Wall Street Zen raised shares of Glaukos from a “hold” rating to a “buy” rating in a research note on Saturday. Citigroup increased their target price on shares of Glaukos from $140.00 to $162.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. Finally, Wells Fargo & Company raised their target price on shares of Glaukos from $135.00 to $138.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $150.62.
View Our Latest Analysis on GKOS
Glaukos Trading Up 1.3%
Glaukos (NYSE:GKOS – Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The medical instruments supplier reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.12. Glaukos had a negative net margin of 34.34% and a negative return on equity of 6.92%. The firm had revenue of $150.57 million for the quarter, compared to analyst estimates of $137.00 million. During the same period in the prior year, the firm posted ($0.22) earnings per share. The company’s quarterly revenue was up 41.2% compared to the same quarter last year. As a group, equities analysts predict that Glaukos Corporation will post -0.57 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, COO Joseph E. Gilliam sold 19,573 shares of Glaukos stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $143.54, for a total transaction of $2,809,508.42. Following the completion of the transaction, the chief operating officer owned 73,419 shares in the company, valued at approximately $10,538,563.26. This trade represents a 21.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Alex R. Thurman sold 10,000 shares of the stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $140.00, for a total value of $1,400,000.00. Following the completion of the sale, the chief financial officer owned 43,681 shares in the company, valued at approximately $6,115,340. This trade represents a 18.63% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 41,273 shares of company stock worth $5,832,003. Company insiders own 5.90% of the company’s stock.
Institutional Investors Weigh In On Glaukos
Hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC lifted its stake in Glaukos by 35.4% during the second quarter. GAMMA Investing LLC now owns 3,165 shares of the medical instruments supplier’s stock worth $442,000 after purchasing an additional 827 shares during the last quarter. Moody National Bank Trust Division bought a new position in Glaukos during the 2nd quarter worth approximately $246,000. Parallel Advisors LLC boosted its position in Glaukos by 159.2% during the first quarter. Parallel Advisors LLC now owns 368 shares of the medical instruments supplier’s stock valued at $40,000 after acquiring an additional 226 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Glaukos by 22.0% during the 1st quarter. Bank of America Corp DE now owns 657,432 shares of the medical instruments supplier’s stock worth $70,779,000 after buying an additional 118,754 shares in the last quarter. Finally, Janus Henderson Group PLC grew its holdings in Glaukos by 77.2% in the first quarter. Janus Henderson Group PLC now owns 5,348,395 shares of the medical instruments supplier’s stock worth $575,844,000 after purchasing an additional 2,329,608 shares during the period. 99.04% of the stock is currently owned by institutional investors and hedge funds.
Glaukos Company Profile
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.
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