Glaukos (NYSE:GKOS) Downgraded by StockNews.com to “Sell”

StockNews.com cut shares of Glaukos (NYSE:GKOS) from a hold rating to a sell rating in a research note published on Friday.

Several other equities research analysts have also recently weighed in on GKOS. Piper Sandler upped their price target on shares of Glaukos from $110.00 to $140.00 and gave the stock an overweight rating in a research report on Thursday, August 1st. Jefferies Financial Group raised Glaukos from a hold rating to a buy rating and increased their target price for the company from $84.00 to $125.00 in a research report on Monday, May 6th. Morgan Stanley lifted their price target on Glaukos from $100.00 to $120.00 and gave the company an equal weight rating in a report on Monday, July 15th. Citigroup cut Glaukos from a buy rating to a neutral rating and upped their price objective for the stock from $130.00 to $132.00 in a research note on Wednesday, July 10th. Finally, Truist Financial reiterated a buy rating and issued a $145.00 target price (up previously from $141.00) on shares of Glaukos in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $128.45.

Glaukos Stock Performance

Shares of NYSE:GKOS opened at $133.89 on Friday. The firm’s 50 day simple moving average is $122.67 and its 200-day simple moving average is $108.05. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.67 and a current ratio of 5.48. Glaukos has a one year low of $59.22 and a one year high of $136.36. The firm has a market cap of $6.74 billion, a PE ratio of -46.49 and a beta of 1.05.

Glaukos (NYSE:GKOS) last released its quarterly earnings data on Wednesday, July 31st. The medical instruments supplier reported ($0.52) 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 company had revenue of $95.70 million for the quarter, compared to the consensus estimate of $88.86 million. During the same period last year, the business posted ($0.55) EPS. Glaukos’s quarterly revenue was up 19.0% on a year-over-year basis. As a group, equities analysts predict that Glaukos will post -2.18 EPS for the current year.

Insider Activity

In other Glaukos news, Director Aimee S. Weisner sold 25,000 shares of the company’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 transaction, the director now owns 30,119 shares in the company, valued at approximately $3,614,280. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Glaukos news, Director Aimee S. Weisner sold 25,000 shares of the business’s stock in a transaction dated 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 sale, the director now owns 30,119 shares in the company, valued at approximately $3,614,280. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Joseph E. Gilliam sold 2,250 shares of the stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $121.39, for a total value of $273,127.50. Following the completion of the transaction, the chief operating officer now directly owns 101,845 shares in the company, valued at $12,362,964.55. The disclosure for this sale can be found here. Insiders have sold a total of 38,500 shares of company stock worth $4,706,990 over the last 90 days. 6.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Glaukos

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of Glaukos by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 5,308,897 shares of the medical instruments supplier’s stock valued at $500,576,000 after buying an additional 72,159 shares during the period. Brown Capital Management LLC boosted its stake in shares of Glaukos by 3.4% in the fourth quarter. Brown Capital Management LLC now owns 2,697,794 shares of the medical instruments supplier’s stock worth $214,448,000 after acquiring an additional 89,420 shares during the last quarter. Fred Alger Management LLC lifted its holdings in Glaukos by 3.8% in the 2nd quarter. Fred Alger Management LLC now owns 1,278,723 shares of the medical instruments supplier’s stock valued at $151,337,000 after purchasing an additional 47,308 shares in the last quarter. Primecap Management Co. CA lifted its stake in shares of Glaukos by 43.9% in the second quarter. Primecap Management Co. CA now owns 1,220,815 shares of the medical instruments supplier’s stock worth $144,483,000 after buying an additional 372,180 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Glaukos by 3.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 923,526 shares of the medical instruments supplier’s stock worth $73,412,000 after purchasing an additional 31,213 shares in the last quarter. 99.04% of the stock is currently owned by institutional investors and hedge funds.

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.