Glaukos (NYSE:GKOS) Lowered to Sell at StockNews.com

StockNews.com lowered shares of Glaukos (NYSE:GKOS) from a hold rating to a sell rating in a report published on Friday morning.

Other research analysts have also recently issued research reports about the stock. BTIG Research raised their price target on shares of Glaukos from $131.00 to $139.00 and gave the stock a buy rating in a research note on Wednesday. Citigroup downgraded Glaukos from a buy rating to a neutral rating and raised their target price for the stock from $130.00 to $132.00 in a research report on Wednesday, July 10th. Stifel Nicolaus upped their target price on shares of Glaukos from $110.00 to $130.00 and gave the stock a buy rating in a report on Wednesday, June 5th. Piper Sandler upped their price objective on shares of Glaukos from $110.00 to $140.00 and gave the stock an overweight rating in a research note on Thursday, August 1st. Finally, JPMorgan Chase & Co. increased their price target on Glaukos from $108.00 to $110.00 and gave the stock an overweight rating in a research report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $128.45.

Glaukos Price Performance

Shares of NYSE:GKOS opened at $133.82 on Friday. The business’s 50 day moving average is $122.24 and its 200-day moving average is $107.60. The company has a current ratio of 5.48, a quick ratio of 4.68 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $6.74 billion, a PE ratio of -46.47 and a beta of 1.05. Glaukos has a 1-year low of $59.22 and a 1-year high of $136.36.

Glaukos (NYSE:GKOS) last announced its quarterly earnings results on Wednesday, July 31st. The medical instruments supplier reported ($0.52) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.52). The firm had revenue of $95.70 million for the quarter, compared to analyst estimates of $88.86 million. Glaukos had a negative net margin of 47.39% and a negative return on equity of 22.51%. The business’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.55) EPS. Sell-side analysts predict that Glaukos will post -2.25 earnings per share for the current year.

Insider Transactions at Glaukos

In related news, COO Joseph E. Gilliam sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $129.36, for a total value of $646,800.00. Following the transaction, the chief operating officer now owns 102,169 shares in the company, valued at $13,216,581.84. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, COO Joseph E. Gilliam sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $129.36, for a total transaction of $646,800.00. Following the completion of the sale, the chief operating officer now directly owns 102,169 shares of the company’s stock, valued at $13,216,581.84. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Aimee S. Weisner sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $120.00, for a total transaction of $3,000,000.00. Following the completion of the transaction, the director now directly owns 30,119 shares in the company, valued at $3,614,280. The disclosure for this sale can be found here. Insiders sold a total of 41,000 shares of company stock worth $4,990,740 over the last 90 days. 6.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Glaukos

Several hedge funds have recently added to or reduced their stakes in GKOS. National Bank of Canada FI bought a new stake in shares of Glaukos in the 4th quarter valued at about $46,000. Quadrant Capital Group LLC increased its stake in Glaukos by 54.8% in the fourth quarter. Quadrant Capital Group LLC now owns 929 shares of the medical instruments supplier’s stock valued at $74,000 after purchasing an additional 329 shares in the last quarter. GAMMA Investing LLC raised its holdings in Glaukos by 68.8% in the second quarter. GAMMA Investing LLC now owns 1,192 shares of the medical instruments supplier’s stock worth $141,000 after purchasing an additional 486 shares during the period. Caldwell Sutter Capital Inc. boosted its position in shares of Glaukos by 5,860.0% during the first quarter. Caldwell Sutter Capital Inc. now owns 1,490 shares of the medical instruments supplier’s stock worth $140,000 after purchasing an additional 1,465 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC acquired a new position in shares of Glaukos in the 2nd quarter valued at $187,000. Institutional investors and hedge funds own 99.04% of the company’s stock.

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.