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

Glaukos Co. (NYSE:GKOS)’s share price gapped up before the market opened 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.

Analysts Set New Price Targets

A number of equities research analysts recently commented on GKOS shares. JPMorgan Chase & Co. raised their price objective on shares of Glaukos from $108.00 to $110.00 and gave the company an “overweight” rating in a research report on Thursday. BTIG Research raised their target price on Glaukos from $107.00 to $112.00 and gave the company a “buy” rating in a report on Thursday. Stifel Nicolaus reaffirmed a “buy” rating and issued a $110.00 target price on shares of Glaukos in a report on Wednesday, April 3rd. Truist Financial reissued a “buy” rating and set a $125.00 price target (up previously from $120.00) on shares of Glaukos in a research note on Thursday. Finally, Mizuho lifted their price objective on Glaukos from $85.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. One analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $108.64.

Glaukos Price Performance

The company’s fifty day moving average is $93.33 and its two-hundred day moving average is $83.07. The company has a debt-to-equity ratio of 0.78, a quick ratio of 4.68 and a current ratio of 5.38. The firm has a market cap of $5.27 billion, a price-to-earnings ratio of -36.98 and a beta of 1.08.

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

Insider Activity

In other news, Director Gilbert H. Kliman sold 5,000 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $88.25, for a total transaction of $441,250.00. Following the completion of the sale, the director now directly owns 30,620 shares in the company, valued at $2,702,215. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Glaukos news, CFO Alex R. Thurman sold 434 shares of the stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $95.33, for a total transaction of $41,373.22. Following the transaction, the chief financial officer now directly owns 54,166 shares in the company, valued at approximately $5,163,644.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gilbert H. Kliman sold 5,000 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $88.25, for a total transaction of $441,250.00. Following the completion of the sale, the director now directly owns 30,620 shares of the company’s stock, valued at approximately $2,702,215. The disclosure for this sale can be found here. Over the last three months, insiders sold 234,940 shares of company stock worth $22,182,756. 6.40% of the stock is currently owned by company insiders.

Institutional Trading of Glaukos

Hedge funds and other institutional investors have recently bought and sold shares of the company. Jennison Associates LLC bought a new stake in shares of Glaukos during the 4th quarter valued at about $608,000. Natixis Advisors L.P. boosted its position in Glaukos by 4.0% during the 3rd quarter. Natixis Advisors L.P. now owns 33,979 shares of the medical instruments supplier’s stock valued at $2,557,000 after purchasing an additional 1,298 shares during the period. State of New Jersey Common Pension Fund D grew its stake in Glaukos by 26.9% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 41,883 shares of the medical instruments supplier’s stock worth $3,329,000 after buying an additional 8,884 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Glaukos by 5.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 386,790 shares of the medical instruments supplier’s stock worth $29,106,000 after buying an additional 20,415 shares during the period. Finally, Lisanti Capital Growth LLC acquired a new position in shares of Glaukos during the third quarter valued at $6,367,000. 99.04% of the stock is owned by 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.