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

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

GKOS has been the subject of several other research reports. JPMorgan Chase & Co. increased their price objective on shares of Glaukos from $120.00 to $140.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. William Blair restated an “outperform” rating on shares of Glaukos in a report on Tuesday, May 26th. BTIG Research restated a “buy” rating and set a $162.00 target price on shares of Glaukos in a research report on Wednesday, June 10th. Needham & Company LLC increased their price target on shares of Glaukos from $136.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Wells Fargo & Company increased their price target on shares of Glaukos from $135.00 to $138.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Twelve investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $149.17.

Glaukos Stock Up 0.1%

Shares of GKOS opened at $130.88 on Friday. The stock has a market capitalization of $7.69 billion, a price-to-earnings ratio of -39.90 and a beta of 0.82. Glaukos has a 1 year low of $73.16 and a 1 year high of $148.11. The business’s 50 day simple moving average is $125.43 and its 200-day simple moving average is $117.07. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.43 and a quick ratio of 4.73.

Glaukos (NYSE:GKOS) last posted its earnings results on Wednesday, April 29th. The medical instruments supplier reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.12. Glaukos had a negative net margin of 34.34% and a negative return on equity of 6.92%. The firm had revenue of $150.57 million during the quarter, compared to analyst estimates of $137.00 million. During the same period last year, the firm posted ($0.22) earnings per share. Glaukos’s revenue for the quarter was up 41.2% compared to the same quarter last year. As a group, equities analysts expect that Glaukos will post -0.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Glaukos news, COO Joseph E. Gilliam sold 19,573 shares of Glaukos stock in a transaction on Friday, May 1st. The shares were sold at an average price of $143.54, for a total transaction of $2,809,508.42. Following the completion of the transaction, the chief operating officer directly owned 73,419 shares of the company’s stock, valued at $10,538,563.26. The trade was a 21.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gilbert H. Kliman sold 5,000 shares of Glaukos stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $140.76, for a total transaction of $703,800.00. Following the transaction, the director directly owned 35,528 shares of the company’s stock, valued at $5,000,921.28. The trade was a 12.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 45,305 shares of company stock valued at $6,259,395 in the last three months. Corporate insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Glaukos

Hedge funds have recently added to or reduced their stakes in the company. Janus Henderson Group PLC lifted its stake in shares of Glaukos by 77.2% during the 1st quarter. Janus Henderson Group PLC now owns 5,348,395 shares of the medical instruments supplier’s stock worth $575,844,000 after acquiring an additional 2,329,608 shares during the last quarter. Primecap Management Co. CA grew its position in Glaukos by 49.8% in the 4th quarter. Primecap Management Co. CA now owns 3,376,928 shares of the medical instruments supplier’s stock valued at $381,289,000 after acquiring an additional 1,123,140 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Glaukos by 209.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,350,425 shares of the medical instruments supplier’s stock valued at $152,476,000 after acquiring an additional 913,458 shares during the last quarter. Millennium Management LLC increased its stake in Glaukos by 75.3% in the fourth quarter. Millennium Management LLC now owns 1,609,699 shares of the medical instruments supplier’s stock worth $181,751,000 after purchasing an additional 691,289 shares during the period. Finally, UBS Group AG increased its stake in Glaukos by 316.0% in the fourth quarter. UBS Group AG now owns 873,942 shares of the medical instruments supplier’s stock worth $98,677,000 after purchasing an additional 663,849 shares during the period. 99.04% of the stock is currently owned by 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.