Glaukos (NYSE:GKOS) Shares Gap Up to $106.51

Shares of Glaukos Co. (NYSE:GKOS) gapped up prior to trading on Monday . The stock had previously closed at $106.51, but opened at $110.00. Glaukos shares last traded at $109.82, with a volume of 104,331 shares.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on GKOS shares. Truist Financial reiterated a “buy” rating and set a $125.00 price objective (up previously from $120.00) on shares of Glaukos in a research report on Thursday, May 2nd. Jefferies Financial Group raised shares of Glaukos from a “hold” rating to a “buy” rating and increased their price objective for the company from $84.00 to $125.00 in a report on Monday. JPMorgan Chase & Co. lifted their target price on Glaukos from $108.00 to $110.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. StockNews.com lowered Glaukos from a “hold” rating to a “sell” rating in a research note on Tuesday, February 27th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $110.00 price objective on shares of Glaukos in a report on Wednesday, April 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $108.64.

Glaukos Price Performance

The firm has a fifty day moving average of $93.94 and a two-hundred day moving average of $83.62. The stock has a market capitalization of $5.42 billion, a P/E ratio of -37.48 and a beta of 1.08. The company has a debt-to-equity ratio of 0.78, a current ratio of 5.38 and a quick ratio of 4.68.

Glaukos (NYSE:GKOS) last issued its quarterly earnings data on Wednesday, May 1st. The medical instruments supplier reported ($0.70) EPS for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.12). The business had revenue of $85.60 million during the quarter, compared to the consensus estimate of $79.60 million. Glaukos had a negative return on equity of 24.69% and a negative net margin of 43.15%. The business’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period last year, the firm earned ($0.59) EPS. On average, analysts predict that Glaukos Co. will post -2.2 EPS for the current year.

Insiders Place Their Bets

In related news, COO Joseph E. Gilliam sold 2,059 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $105.52, for a total transaction of $217,265.68. Following the transaction, the chief operating officer now directly owns 101,845 shares in the company, valued at approximately $10,746,684.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, COO Joseph E. Gilliam sold 5,000 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $96.07, for a total transaction of $480,350.00. Following the sale, the chief operating officer now directly owns 119,802 shares of the company’s stock, valued at $11,509,378.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Joseph E. Gilliam sold 2,059 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $105.52, for a total value of $217,265.68. Following the completion of the transaction, the chief operating officer now directly owns 101,845 shares in the company, valued at $10,746,684.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 235,349 shares of company stock valued at $22,226,336. 6.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Glaukos

Institutional investors have recently bought and sold shares of the business. Qsemble Capital Management LP acquired a new position in shares of Glaukos in the 1st quarter valued at about $251,000. Sei Investments Co. raised its position in Glaukos by 1.7% during the first quarter. Sei Investments Co. now owns 71,613 shares of the medical instruments supplier’s stock valued at $6,752,000 after acquiring an additional 1,190 shares in the last quarter. Swiss National Bank lifted its holdings in Glaukos by 0.5% in the first quarter. Swiss National Bank now owns 91,500 shares of the medical instruments supplier’s stock valued at $8,628,000 after acquiring an additional 500 shares during the period. Lisanti Capital Growth LLC purchased a new stake in Glaukos in the 1st quarter worth approximately $3,969,000. Finally, Oppenheimer & Co. Inc. acquired a new stake in shares of Glaukos during the 1st quarter worth approximately $217,000. 99.04% of the stock is owned by hedge funds and other institutional investors.

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.