Glaukos (NYSE:GKOS) Trading Up 3.4%

Glaukos Co. (NYSE:GKOS)’s stock price traded up 3.4% on Friday . The company traded as high as $98.35 and last traded at $98.35. 105,264 shares were traded during mid-day trading, a decline of 84% from the average session volume of 666,495 shares. The stock had previously closed at $95.13.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on GKOS shares. Mizuho boosted their price objective on Glaukos from $85.00 to $100.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Wells Fargo & Company upped their price objective on shares of Glaukos from $83.00 to $103.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. Piper Sandler upped their target price on Glaukos from $90.00 to $105.00 and gave the stock an “overweight” rating in a research note on Friday, December 22nd. Needham & Company LLC upped their target price on Glaukos from $105.00 to $108.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. Finally, JPMorgan Chase & Co. raised Glaukos from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $66.00 to $91.00 in a research note on Thursday, December 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Glaukos presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.80.

Glaukos Price Performance

The stock has a fifty day moving average price of $91.88 and a 200 day moving average price of $80.55. The company has a quick ratio of 4.78, a current ratio of 5.34 and a debt-to-equity ratio of 0.77.

Glaukos (NYSE:GKOS) last issued its earnings results on Wednesday, February 21st. The medical instruments supplier reported ($0.63) earnings per share for the quarter, missing the consensus estimate of ($0.56) by ($0.07). Glaukos had a negative return on equity of 22.67% and a negative net margin of 42.79%. The firm had revenue of $82.40 million during the quarter, compared to analysts’ expectations of $81.00 million. During the same quarter in the prior year, the company posted ($0.53) earnings per share. Glaukos’s quarterly revenue was up 15.7% compared to the same quarter last year. As a group, research analysts forecast that Glaukos Co. will post -2.18 earnings per share for the current year.

Insider Activity

In other Glaukos news, CFO Alex R. Thurman sold 474 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $90.37, for a total transaction of $42,835.38. Following the transaction, the chief financial officer now owns 54,916 shares in the company, valued at $4,962,758.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, COO Joseph E. Gilliam sold 140,245 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $92.14, for a total transaction of $12,922,174.30. Following the completion of the transaction, the chief operating officer now directly owns 98,388 shares of the company’s stock, valued at approximately $9,065,470.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Alex R. Thurman sold 474 shares of the business’s stock in a transaction on Tuesday, April 2nd. The stock was 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 $4,962,758.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 242,881 shares of company stock valued at $22,906,633. Company insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GKOS. Natixis Advisors L.P. raised its stake in shares of Glaukos by 4.0% during the 3rd quarter. Natixis Advisors L.P. now owns 33,979 shares of the medical instruments supplier’s stock worth $2,557,000 after buying an additional 1,298 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Glaukos by 5.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 386,790 shares of the medical instruments supplier’s stock worth $29,106,000 after purchasing an additional 20,415 shares during the period. Wealthcare Advisory Partners LLC purchased a new position in shares of Glaukos in the 3rd quarter worth $204,000. Lisanti Capital Growth LLC purchased a new position in shares of Glaukos in the 3rd quarter worth $6,367,000. Finally, Strs Ohio raised its position in shares of Glaukos by 45.8% in the 3rd quarter. Strs Ohio now owns 3,500 shares of the medical instruments supplier’s stock worth $263,000 after buying an additional 1,100 shares during the period. 99.04% of the stock is owned by institutional investors and hedge funds.

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.