Morgan Stanley Lowers Glaukos (NYSE:GKOS) Price Target to $72.00

Glaukos (NYSE:GKOS) had its price objective dropped by stock analysts at Morgan Stanley from $110.00 to $72.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “underweight” rating on the medical instruments supplier’s stock. Morgan Stanley’s price target indicates a potential downside of 18.40% from the company’s previous close.

Several other equities analysts also recently commented on the stock. Stifel Nicolaus lowered their target price on shares of Glaukos from $140.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Stephens lowered their price objective on Glaukos from $140.00 to $115.00 and set an “overweight” rating on the stock in a report on Friday, May 2nd. Wells Fargo & Company lowered Glaukos from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $160.00 to $86.00 in a report on Thursday, May 1st. Mizuho dropped their price target on shares of Glaukos from $200.00 to $175.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 16th. Finally, Needham & Company LLC reduced their price objective on shares of Glaukos from $176.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $134.67.

Glaukos Stock Performance

Shares of Glaukos stock opened at $88.23 on Tuesday. Glaukos has a 12 month low of $77.10 and a 12 month high of $163.71. The company has a quick ratio of 4.71, a current ratio of 5.54 and a debt-to-equity ratio of 0.19. The stock has a market cap of $5.04 billion, a PE ratio of -30.74 and a beta of 0.83. The business has a fifty day simple moving average of $95.68 and a 200-day simple moving average of $127.93.

Glaukos (NYSE:GKOS) last released its earnings results on Wednesday, April 30th. The medical instruments supplier reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.11. Glaukos had a negative return on equity of 16.53% and a negative net margin of 39.04%. The company had revenue of $106.66 million for the quarter, compared to analysts’ expectations of $102.78 million. During the same quarter in the previous year, the business posted ($0.70) EPS. The business’s revenue for the quarter was up 24.6% on a year-over-year basis. On average, sell-side analysts anticipate that Glaukos will post -1.08 EPS for the current fiscal year.

Insider Activity at Glaukos

In other news, CFO Alex R. Thurman sold 1,520 shares of the stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $106.84, for a total value of $162,396.80. Following the completion of the transaction, the chief financial officer now owns 53,431 shares in the company, valued at approximately $5,708,568.04. This represents a 2.77 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Tomas Navratil sold 3,416 shares of Glaukos stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $147.14, for a total transaction of $502,630.24. Following the sale, the insider now owns 72,437 shares in the company, valued at approximately $10,658,380.18. This trade represents a 4.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Glaukos

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Bessemer Group Inc. lifted its holdings in shares of Glaukos by 133.9% during the first quarter. Bessemer Group Inc. now owns 276 shares of the medical instruments supplier’s stock valued at $27,000 after acquiring an additional 158 shares during the period. Whipplewood Advisors LLC boosted its holdings in shares of Glaukos by 3,957.1% in the 1st quarter. Whipplewood Advisors LLC now owns 284 shares of the medical instruments supplier’s stock worth $28,000 after acquiring an additional 277 shares in the last quarter. IFP Advisors Inc bought a new stake in shares of Glaukos during the fourth quarter worth $43,000. First Horizon Advisors Inc. boosted its position in Glaukos by 72.9% in the 1st quarter. First Horizon Advisors Inc. now owns 377 shares of the medical instruments supplier’s stock valued at $37,000 after buying an additional 159 shares during the last quarter. Finally, Versant Capital Management Inc raised its position in shares of Glaukos by 583.9% during the first quarter. Versant Capital Management Inc now owns 383 shares of the medical instruments supplier’s stock worth $38,000 after acquiring an additional 327 shares during the last quarter. 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.