Glaukos (NYSE:GKOS) Upgraded to “Hold” at StockNews.com

Glaukos (NYSE:GKOS) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Monday.

A number of other analysts also recently weighed in on the stock. Citigroup downgraded shares of Glaukos from a “buy” rating to a “neutral” rating and upped their target price for the stock from $130.00 to $132.00 in a research report on Wednesday, July 10th. Piper Sandler set a $140.00 price objective on shares of Glaukos in a report on Thursday, October 17th. BTIG Research lifted their target price on shares of Glaukos from $131.00 to $139.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Morgan Stanley upped their price target on Glaukos from $100.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Monday, July 15th. Finally, Truist Financial lifted their price objective on Glaukos from $145.00 to $152.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $130.45.

Glaukos Price Performance

GKOS stock opened at $131.59 on Monday. The company has a debt-to-equity ratio of 0.19, a current ratio of 5.48 and a quick ratio of 4.67. Glaukos has a 1 year low of $59.22 and a 1 year high of $136.60. The firm has a 50-day moving average of $128.74 and a 200 day moving average of $117.78. The company has a market cap of $6.63 billion, a P/E ratio of -45.69 and a beta of 1.02.

Glaukos (NYSE:GKOS) last announced its earnings results on Wednesday, July 31st. The medical instruments supplier reported ($0.52) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.52). Glaukos had a negative return on equity of 22.51% and a negative net margin of 47.39%. The firm had revenue of $95.70 million during the quarter, compared to analyst estimates of $88.86 million. During the same quarter in the prior year, the company earned ($0.55) EPS. The business’s revenue was up 19.0% compared to the same quarter last year. On average, sell-side analysts forecast that Glaukos will post -2.18 EPS for the current year.

Insider Buying and Selling

In related news, 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 value of $3,000,000.00. Following the sale, the director now owns 30,119 shares in the company, valued at approximately $3,614,280. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Aimee S. Weisner sold 25,000 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $120.00, for a total transaction of $3,000,000.00. Following the completion of the sale, the director now owns 30,119 shares in the company, valued at approximately $3,614,280. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Marc Stapley sold 6,250 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $125.93, for a total value of $787,062.50. Following the completion of the transaction, the director now directly owns 34,076 shares in the company, valued at approximately $4,291,190.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 39,250 shares of company stock worth $4,825,873. 6.40% of the stock is owned by corporate insiders.

Institutional Trading of Glaukos

Several large investors have recently added to or reduced their stakes in GKOS. Caldwell Sutter Capital Inc. lifted its position in 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 valued at $140,000 after purchasing an additional 1,465 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Glaukos by 68.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,192 shares of the medical instruments supplier’s stock valued at $141,000 after acquiring an additional 486 shares during the period. Fifth Third Wealth Advisors LLC purchased a new stake in Glaukos in the 2nd quarter worth approximately $187,000. Brighton Jones LLC bought a new stake in Glaukos during the 2nd quarter worth approximately $208,000. Finally, Procyon Advisors LLC purchased a new position in Glaukos during the third quarter valued at approximately $210,000. 99.04% of the stock is currently owned by institutional investors.

Glaukos Company Profile

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.