Glaukos (NYSE:GKOS) Sets New 1-Year Low on Analyst Downgrade

Shares of Glaukos Co. (NYSE:GKOS) hit a new 52-week low during mid-day trading on Thursday after Stifel Nicolaus lowered their price target on the stock from $140.00 to $115.00. Stifel Nicolaus currently has a buy rating on the stock. Glaukos traded as low as $77.29 and last traded at $81.29, with a volume of 335057 shares changing hands. The stock had previously closed at $94.25.

GKOS has been the subject of a number of other research reports. Mizuho decreased their price target on Glaukos from $200.00 to $175.00 and set an “outperform” rating for the company in a research report on Wednesday, April 16th. Wells Fargo & Company downgraded shares of Glaukos from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $160.00 to $86.00 in a research report on Thursday. Truist Financial reduced their price target on shares of Glaukos from $185.00 to $140.00 and set a “buy” rating for the company in a research report on Friday, April 11th. Needham & Company LLC lowered their price objective on shares of Glaukos from $176.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Piper Sandler reduced their target price on Glaukos from $180.00 to $165.00 and set an “overweight” rating for the company in a report on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Glaukos presently has a consensus rating of “Moderate Buy” and an average price target of $139.50.

Insider Transactions at Glaukos

In related news, CFO Alex R. Thurman sold 1,520 shares of the business’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $106.84, for a total value of $162,396.80. Following the completion of the sale, the chief financial officer now directly owns 53,431 shares of the company’s stock, valued at $5,708,568.04. The trade was a 2.77 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Tomas Navratil sold 3,416 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $147.14, for a total value of $502,630.24. Following the completion of the sale, the insider now directly owns 72,437 shares of the company’s stock, valued at approximately $10,658,380.18. This trade represents a 4.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 6.40% of the company’s stock.

Institutional Trading of Glaukos

A number of large investors have recently bought and sold shares of GKOS. Vanguard Group Inc. grew its holdings in Glaukos by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 5,974,971 shares of the medical instruments supplier’s stock valued at $895,887,000 after buying an additional 101,838 shares in the last quarter. Invesco Ltd. lifted its position in Glaukos by 4.9% in the fourth quarter. Invesco Ltd. now owns 1,458,635 shares of the medical instruments supplier’s stock valued at $218,708,000 after purchasing an additional 68,310 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Glaukos by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 1,197,215 shares of the medical instruments supplier’s stock valued at $179,555,000 after acquiring an additional 25,199 shares during the period. Gilder Gagnon Howe & Co. LLC raised its position in Glaukos by 25.3% during the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 825,276 shares of the medical instruments supplier’s stock valued at $123,742,000 after purchasing an additional 166,677 shares during the last quarter. Finally, Alliancebernstein L.P. increased its position in Glaukos by 1,235.4% during the 4th quarter. Alliancebernstein L.P. now owns 816,153 shares of the medical instruments supplier’s stock valued at $122,374,000 after purchasing an additional 755,035 shares during the period. 99.04% of the stock is owned by hedge funds and other institutional investors.

Glaukos Price Performance

The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.71 and a current ratio of 5.54. The firm has a 50-day moving average price of $98.27 and a 200-day moving average price of $129.09. The stock has a market cap of $4.75 billion, a P/E ratio of -28.99 and a beta of 0.88.

Glaukos (NYSE:GKOS) last posted its quarterly earnings results on Wednesday, April 30th. The medical instruments supplier reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.11. The firm had revenue of $106.66 million during the quarter, compared to analysts’ expectations of $102.78 million. Glaukos had a negative return on equity of 16.53% and a negative net margin of 39.04%. The company’s revenue was up 24.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.70) earnings per share. On average, analysts forecast that Glaukos Co. will post -1.08 earnings per share for the current fiscal year.

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.