Glaukos (NYSE:GKOS) Shares Down 3.4%

Shares of Glaukos Co. (NYSE:GKOS) fell 3.4% on Tuesday . The company traded as low as $119.82 and last traded at $120.00. 333,578 shares traded hands during trading, a decline of 43% from the average session volume of 581,144 shares. The stock had previously closed at $124.27.

Analyst Upgrades and Downgrades

Several research firms have recently commented on GKOS. Stifel Nicolaus lifted their target price on Glaukos from $130.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Piper Sandler raised their price target on Glaukos from $110.00 to $140.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Needham & Company LLC raised their price target on Glaukos from $131.00 to $137.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Truist Financial restated a “buy” rating and issued a $145.00 price target (up from $141.00) on shares of Glaukos in a research report on Thursday, August 1st. Finally, StockNews.com lowered Glaukos from a “hold” rating to a “sell” rating in a research report on Friday, August 30th. One research 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $129.82.

Glaukos Trading Up 6.4 %

The company has a market cap of $6.55 billion, a P/E ratio of -42.47 and a beta of 1.03. The business has a fifty day moving average price of $124.62 and a 200-day moving average price of $110.94. The company has a quick ratio of 4.67, a current ratio of 5.48 and a debt-to-equity ratio of 0.19.

Glaukos (NYSE:GKOS) last issued 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 business had revenue of $95.70 million during the quarter, compared to analysts’ expectations of $88.86 million. Glaukos had a negative return on equity of 22.51% and a negative net margin of 47.39%. The firm’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.55) earnings per share. On average, analysts forecast that Glaukos Co. will post -2.18 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Aimee S. Weisner sold 25,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 30,119 shares of the company’s stock, valued at approximately $3,614,280. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Marc Stapley sold 6,250 shares of Glaukos stock in a transaction that occurred on 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Aimee S. Weisner sold 25,000 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $3,614,280. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,500 shares of company stock worth $5,099,000. Company insiders own 6.40% of the company’s stock.

Institutional Trading of Glaukos

A number of hedge funds have recently made changes to their positions in the stock. Quadrant Capital Group LLC boosted its position in Glaukos by 54.8% during the fourth quarter. Quadrant Capital Group LLC now owns 929 shares of the medical instruments supplier’s stock valued at $74,000 after buying an additional 329 shares during the period. GAMMA Investing LLC boosted its position in Glaukos by 68.8% during the second quarter. GAMMA Investing LLC now owns 1,192 shares of the medical instruments supplier’s stock valued at $141,000 after buying an additional 486 shares during the period. Caldwell Sutter Capital Inc. boosted 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 buying an additional 1,465 shares during the period. Fifth Third Wealth Advisors LLC purchased a new stake in Glaukos during the second quarter valued at about $187,000. Finally, Brighton Jones LLC purchased a new stake in Glaukos during the second quarter valued at about $208,000. 99.04% of the stock is 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.