Glaukos (NYSE:GKOS) Shares Gap Down – Here’s What Happened

Glaukos Co. (NYSE:GKOS) shares gapped down before the market opened on Tuesday . The stock had previously closed at $131.38, but opened at $125.00. Glaukos shares last traded at $126.75, with a volume of 337,633 shares changing hands.

Analyst Upgrades and Downgrades

GKOS has been the subject of several recent research reports. Truist Financial boosted their price target on shares of Glaukos from $145.00 to $152.00 and gave the company a “buy” rating in a report on Monday, October 14th. JPMorgan Chase & Co. lifted their price objective on shares of Glaukos from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday. Morgan Stanley lifted their price objective on shares of Glaukos from $100.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Monday, July 15th. StockNews.com raised shares of Glaukos from a “sell” rating to a “hold” rating in a research report on Monday, October 21st. Finally, Wells Fargo & Company lifted their price objective on shares of Glaukos from $135.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $134.55.

Glaukos Price Performance

The firm’s fifty day moving average price is $129.64 and its 200 day moving average price is $119.98. The firm has a market capitalization of $7.04 billion, a PE ratio of -39.72 and a beta of 1.02. The company has a current ratio of 5.48, a quick ratio of 4.67 and a debt-to-equity ratio of 0.19.

Glaukos (NYSE:GKOS) last posted its earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.48) by $0.20. Glaukos had a negative net margin of 47.39% and a negative return on equity of 22.51%. The firm had revenue of $96.70 million during the quarter, compared to analysts’ expectations of $91.50 million. During the same period in the previous year, the business posted ($0.50) EPS. The business’s revenue was up 23.9% compared to the same quarter last year. As a group, equities analysts forecast that Glaukos Co. will post -2.16 earnings per share for the current year.

Insider Activity at Glaukos

In other Glaukos news, COO Joseph E. Gilliam sold 2,275 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $138.97, for a total transaction of $316,156.75. Following the completion of the transaction, the chief operating officer now directly owns 102,169 shares in the company, valued at approximately $14,198,425.93. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Aimee S. Weisner sold 25,000 shares of the company’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 sale, the director now owns 30,119 shares of the company’s stock, valued at $3,614,280. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Joseph E. Gilliam sold 2,275 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $138.97, for a total transaction of $316,156.75. Following the sale, the chief operating officer now directly owns 102,169 shares of the company’s stock, valued at $14,198,425.93. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,525 shares of company stock worth $5,142,029 in the last three months. Company insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Values First Advisors Inc. purchased a new position in Glaukos during the third quarter worth about $25,000. GAMMA Investing LLC boosted its stake in Glaukos by 68.8% during the second quarter. GAMMA Investing LLC now owns 1,192 shares of the medical instruments supplier’s stock worth $141,000 after buying an additional 486 shares during the period. Fifth Third Wealth Advisors LLC purchased a new position in Glaukos during the second quarter worth about $187,000. Brighton Jones LLC acquired a new stake in shares of Glaukos during the second quarter worth about $208,000. Finally, Procyon Advisors LLC acquired a new stake in shares of Glaukos during the third quarter worth about $210,000. Hedge funds and other institutional investors own 99.04% of the company’s stock.

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.