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

Glaukos Co. (NYSE:GKOS)’s stock price 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 trading hands.

Analyst Ratings Changes

A number of equities research analysts have weighed in on GKOS shares. Wells Fargo & Company lifted their target price on Glaukos from $103.00 to $110.00 and gave the stock an “overweight” rating in a report on Thursday. Stifel Nicolaus reissued a “buy” rating and set a $110.00 target price on shares of Glaukos in a research note on Wednesday, April 3rd. Mizuho upped their price objective on shares of Glaukos from $85.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. JPMorgan Chase & Co. boosted their target price on Glaukos from $108.00 to $110.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Needham & Company LLC boosted their price objective on Glaukos from $108.00 to $113.00 and gave the company a “buy” rating in a report on Thursday. 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. Based on data from MarketBeat, Glaukos presently has a consensus rating of “Moderate Buy” and an average price target of $108.64.

Glaukos Trading Down 1.4 %

The firm has a 50-day moving average price of $93.33 and a 200-day moving average price of $83.07. The company has a current ratio of 5.38, a quick ratio of 4.68 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $5.27 billion, a PE ratio of -36.98 and a beta of 1.08.

Glaukos (NYSE:GKOS) last posted its quarterly earnings results 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). Glaukos had a negative return on equity of 24.69% and a negative net margin of 43.15%. The company had revenue of $85.60 million during the quarter, compared to the consensus estimate of $79.60 million. During the same period last year, the firm posted ($0.59) EPS. The company’s revenue for the quarter was up 15.8% compared to the same quarter last year. As a group, equities analysts forecast that Glaukos Co. will post -2.2 EPS for the current fiscal year.

Insider Buying and Selling at Glaukos

In other Glaukos news, COO Joseph E. Gilliam sold 140,245 shares of the 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 sale, the chief operating officer now owns 98,388 shares in the company, valued at $9,065,470.32. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, COO Joseph E. Gilliam sold 140,245 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $92.14, for a total value of $12,922,174.30. Following the completion of the transaction, the chief operating officer now directly owns 98,388 shares in the company, valued at $9,065,470.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gilbert H. Kliman sold 5,000 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $88.25, for a total transaction of $441,250.00. Following the completion of the transaction, the director now directly owns 30,620 shares of the company’s stock, valued at $2,702,215. The disclosure for this sale can be found here. Insiders have sold a total of 234,940 shares of company stock valued at $22,182,756 over the last three months. 6.40% of the stock is currently owned by insiders.

Institutional Trading of Glaukos

Hedge funds have recently made changes to their positions in the stock. Brown Capital Management LLC grew its stake in shares of Glaukos by 3.4% in the fourth quarter. Brown Capital Management LLC now owns 2,697,794 shares of the medical instruments supplier’s stock worth $214,448,000 after purchasing an additional 89,420 shares during the last quarter. Fred Alger Management LLC raised its holdings in shares of Glaukos by 9.2% during the third quarter. Fred Alger Management LLC now owns 1,780,690 shares of the medical instruments supplier’s stock valued at $133,997,000 after acquiring an additional 150,102 shares in the last quarter. Invesco Ltd. lifted its stake in Glaukos by 45.5% in the third quarter. Invesco Ltd. now owns 1,450,033 shares of the medical instruments supplier’s stock worth $109,115,000 after acquiring an additional 453,756 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Glaukos by 3.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 923,526 shares of the medical instruments supplier’s stock valued at $73,412,000 after acquiring an additional 31,213 shares in the last quarter. Finally, Primecap Management Co. CA increased its position in Glaukos by 23.7% during the 4th quarter. Primecap Management Co. CA now owns 790,035 shares of the medical instruments supplier’s stock valued at $62,800,000 after purchasing an additional 151,415 shares during the period. 99.04% of the stock is owned by institutional investors.

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.