Glaukos (NYSE:GKOS) Lowered to Hold Rating by Wall Street Zen

Glaukos (NYSE:GKOS) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

Other research analysts also recently issued research reports about the company. Stifel Nicolaus raised their target price on Glaukos from $115.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Needham & Company LLC increased their price target on shares of Glaukos from $125.00 to $127.00 and gave the stock a “buy” rating in a report on Wednesday. Citigroup raised their price objective on shares of Glaukos from $113.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. William Blair raised shares of Glaukos to a “strong-buy” rating in a research note on Friday, January 30th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $165.00 target price on shares of Glaukos in a research note on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Glaukos currently has an average rating of “Moderate Buy” and a consensus target price of $133.69.

Glaukos Stock Up 2.8%

GKOS opened at $120.41 on Friday. Glaukos has a 12 month low of $73.16 and a 12 month high of $142.95. The company has a market cap of $6.92 billion, a PE ratio of -36.93 and a beta of 0.70. The company has a current ratio of 4.69, a quick ratio of 4.47 and a debt-to-equity ratio of 0.10. The company has a 50 day moving average of $115.30 and a 200 day moving average of $98.86.

Glaukos (NYSE:GKOS) last posted its earnings results on Tuesday, February 17th. The medical instruments supplier reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.06). The company had revenue of $143.12 million for the quarter, compared to analysts’ expectations of $132.16 million. Glaukos had a negative return on equity of 7.00% and a negative net margin of 36.99%.The company’s revenue was up 35.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.40) EPS. On average, sell-side analysts expect that Glaukos will post -1.08 EPS for the current year.

Insider Activity at Glaukos

In other Glaukos news, Director Gilbert H. Kliman sold 5,000 shares of the company’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $107.27, for a total transaction of $536,350.00. Following the completion of the sale, the director directly owned 34,905 shares in the company, valued at $3,744,259.35. This represents a 12.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Marc Stapley sold 15,000 shares of Glaukos stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $127.71, for a total value of $1,915,650.00. Following the completion of the transaction, the director owned 37,449 shares in the company, valued at approximately $4,782,611.79. This represents a 28.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 310,315 shares of company stock worth $36,011,634 in the last 90 days. Corporate insiders own 5.80% of the company’s stock.

Institutional Investors Weigh In On Glaukos

Institutional investors have recently bought and sold shares of the stock. Invesco Ltd. increased its stake in Glaukos by 28.5% in the 4th quarter. Invesco Ltd. now owns 780,267 shares of the medical instruments supplier’s stock worth $88,100,000 after purchasing an additional 172,825 shares during the period. Corient Private Wealth LLC boosted its stake in shares of Glaukos by 999.3% during the fourth quarter. Corient Private Wealth LLC now owns 30,978 shares of the medical instruments supplier’s stock valued at $3,498,000 after purchasing an additional 28,160 shares during the period. Summit Global Investments grew its holdings in shares of Glaukos by 151.3% in the fourth quarter. Summit Global Investments now owns 7,052 shares of the medical instruments supplier’s stock worth $796,000 after purchasing an additional 4,246 shares during the last quarter. Mackenzie Financial Corp grew its holdings in shares of Glaukos by 331.8% in the fourth quarter. Mackenzie Financial Corp now owns 15,404 shares of the medical instruments supplier’s stock worth $1,756,000 after purchasing an additional 11,837 shares during the last quarter. Finally, Empowered Funds LLC purchased a new position in shares of Glaukos in the fourth quarter worth $217,000. 99.04% of the stock is currently owned by hedge funds and other institutional investors.

About Glaukos

Glaukos Corporation is a medical technology company specializing in the development, manufacturing and commercialization of innovative therapies for patients with glaucoma and other chronic eye diseases. The company’s core offerings focus on micro-invasive glaucoma surgery (MIGS), designed to reduce intraocular pressure and manage glaucoma more safely and effectively than traditional surgical approaches. Glaukos’s flagship products include the iStent, iStent inject and iStent infinite trabecular micro-bypass stents, which are implanted during cataract surgery to improve aqueous outflow and help control eye pressure.

Beyond its MIGS portfolio, Glaukos has expanded into sustained drug-delivery solutions.