Glaukos (NYSE:GKOS) Sets New 52-Week High – Time to Buy?

Glaukos Corporation (NYSE:GKOS) reached a new 52-week high during trading on Monday . The company traded as high as $148.11 and last traded at $145.5560, with a volume of 161904 shares trading hands. The stock had previously closed at $144.01.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on GKOS. William Blair raised shares of Glaukos to a “strong-buy” rating in a research note on Friday, January 30th. Wall Street Zen raised shares of Glaukos from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Citigroup increased their target price on shares of Glaukos from $135.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Stifel Nicolaus set a $170.00 target price on shares of Glaukos in a research report on Thursday, April 30th. Finally, Wells Fargo & Company increased their target price on shares of Glaukos from $135.00 to $138.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $144.42.

Glaukos Stock Performance

The stock’s 50-day moving average is $117.10 and its 200-day moving average is $111.64. The stock has a market cap of $8.42 billion, a price-to-earnings ratio of -43.60 and a beta of 0.94. The company has a current ratio of 5.43, a quick ratio of 4.73 and a debt-to-equity ratio of 0.10.

Glaukos (NYSE:GKOS) last posted its earnings results on Wednesday, April 29th. The medical instruments supplier reported ($0.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $137.00 million. During the same quarter in the prior year, the company earned ($0.22) EPS. The company’s revenue was up 41.2% on a year-over-year basis. On average, analysts expect that Glaukos Corporation will post -0.57 EPS for the current year.

Insider Buying and Selling

In other Glaukos news, Director Leana Wen sold 1,700 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $143.35, for a total value of $243,695.00. Following the completion of the sale, the director owned 19,739 shares of the company’s stock, valued at $2,829,585.65. This trade represents a 7.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gilbert H. Kliman sold 5,000 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $135.00, for a total transaction of $675,000.00. Following the completion of the sale, the director directly owned 35,528 shares of the company’s stock, valued at $4,796,280. This trade represents a 12.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 55,930 shares of company stock valued at $7,378,263 over the last three months. Company insiders own 5.90% of the company’s stock.

Institutional Trading of Glaukos

Several large investors have recently bought and sold shares of the company. Wealth Alliance LLC grew its position in Glaukos by 4.5% in the first quarter. Wealth Alliance LLC now owns 2,297 shares of the medical instruments supplier’s stock valued at $247,000 after acquiring an additional 98 shares in the last quarter. Smartleaf Asset Management LLC grew its position in Glaukos by 9.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,383 shares of the medical instruments supplier’s stock valued at $158,000 after acquiring an additional 122 shares in the last quarter. Larson Financial Group LLC boosted its stake in shares of Glaukos by 62.0% during the 4th quarter. Larson Financial Group LLC now owns 345 shares of the medical instruments supplier’s stock valued at $39,000 after buying an additional 132 shares during the last quarter. CWM LLC boosted its stake in shares of Glaukos by 25.2% during the 4th quarter. CWM LLC now owns 710 shares of the medical instruments supplier’s stock valued at $80,000 after buying an additional 143 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its stake in shares of Glaukos by 1.7% during the 4th quarter. Commonwealth Equity Services LLC now owns 8,383 shares of the medical instruments supplier’s stock valued at $947,000 after buying an additional 144 shares during the last quarter. Institutional investors and hedge funds own 99.04% of the company’s stock.

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.