Glaukos (NYSE:GKOS) Downgraded to “Hold” Rating by Wall Street Zen

Glaukos (NYSE:GKOS) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

A number of other research firms also recently weighed in on GKOS. Needham & Company LLC lifted their price target on shares of Glaukos from $136.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, June 17th. Citigroup increased their price objective on shares of Glaukos from $162.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. William Blair reaffirmed an “outperform” rating on shares of Glaukos in a report on Tuesday, May 26th. HC Wainwright started coverage on shares of Glaukos in a research report on Monday, July 6th. They set a “buy” rating and a $168.00 target price on the stock. Finally, Stifel Nicolaus increased their price target on shares of Glaukos from $170.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday. Thirteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Glaukos has a consensus rating of “Moderate Buy” and a consensus price target of $154.85.

Glaukos Price Performance

Shares of GKOS stock opened at $156.97 on Friday. Glaukos has a 12 month low of $73.16 and a 12 month high of $161.53. The company has a market capitalization of $9.22 billion, a P/E ratio of -47.86 and a beta of 0.75. The stock has a 50 day moving average of $134.39 and a two-hundred day moving average of $122.04. The company has a current ratio of 5.43, a quick ratio of 4.73 and a debt-to-equity ratio of 0.10.

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

Insider Buying and Selling

In related news, COO Joseph E. Gilliam sold 19,573 shares of the stock in a transaction dated 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 sale, the chief operating officer owned 73,419 shares in the company, valued at $10,538,563.26. This trade represents a 21.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Gilbert H. Kliman sold 5,000 shares of Glaukos stock in a transaction dated Thursday, May 14th. The shares were 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. This represents a 12.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 61,273 shares of company stock valued at $8,882,003 in the last ninety days. Insiders own 5.90% of the company’s stock.

Institutional Trading of Glaukos

Several hedge funds have recently modified their holdings of the company. First Horizon Corp raised its stake in shares of Glaukos by 1,715.4% in the fourth quarter. First Horizon Corp now owns 236 shares of the medical instruments supplier’s stock valued at $27,000 after acquiring an additional 223 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Glaukos in the 4th quarter worth approximately $28,000. Larson Financial Group LLC grew its position in Glaukos by 62.0% during the 4th quarter. Larson Financial Group LLC now owns 345 shares of the medical instruments supplier’s stock worth $39,000 after acquiring an additional 132 shares during the last quarter. Parallel Advisors LLC grew its position in Glaukos by 159.2% during the 1st quarter. Parallel Advisors LLC now owns 368 shares of the medical instruments supplier’s stock worth $40,000 after acquiring an additional 226 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in Glaukos by 111.4% during the 4th quarter. Farther Finance Advisors LLC now owns 408 shares of the medical instruments supplier’s stock valued at $46,000 after purchasing an additional 215 shares in the last quarter. Institutional investors and hedge funds own 99.04% of the company’s stock.

Glaukos Company Profile

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.