Glaukos (NYSE:GKOS) Stock Price Down 6.6% After Analyst Downgrade

Glaukos Co. (NYSE:GKOS) shares traded down 6.6% on Wednesday after Mizuho lowered their price target on the stock from $200.00 to $175.00. Mizuho currently has an outperform rating on the stock. Glaukos traded as low as $88.00 and last traded at $88.25. 273,197 shares changed hands during trading, a decline of 69% from the average session volume of 882,460 shares. The stock had previously closed at $94.52.

A number of other brokerages have also recently issued reports on GKOS. Stifel Nicolaus upped their target price on shares of Glaukos from $153.00 to $175.00 and gave the company a “buy” rating in a report on Tuesday, December 31st. Truist Financial dropped their price objective on Glaukos from $185.00 to $140.00 and set a “buy” rating on the stock in a research note on Friday, April 11th. Piper Sandler reduced their target price on Glaukos from $180.00 to $165.00 and set an “overweight” rating for the company in a research note on Tuesday. Wells Fargo & Company increased their price target on Glaukos from $153.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Finally, Needham & Company LLC lifted their price objective on shares of Glaukos from $149.00 to $176.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. One analyst has rated the stock with a sell rating, one has given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Glaukos has a consensus rating of “Moderate Buy” and a consensus price target of $156.17.

Insider Buying and Selling at Glaukos

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

Hedge Funds Weigh In On Glaukos

Hedge funds have recently bought and sold shares of the company. HighTower Advisors LLC increased its stake in Glaukos by 3.3% in the third quarter. HighTower Advisors LLC now owns 3,207 shares of the medical instruments supplier’s stock valued at $416,000 after acquiring an additional 103 shares during the last quarter. Stifel Financial Corp boosted its holdings in shares of Glaukos by 37.7% in the 3rd quarter. Stifel Financial Corp now owns 4,230 shares of the medical instruments supplier’s stock valued at $551,000 after purchasing an additional 1,157 shares in the last quarter. Barclays PLC increased its stake in shares of Glaukos by 394.4% in the 3rd quarter. Barclays PLC now owns 89,699 shares of the medical instruments supplier’s stock valued at $11,686,000 after purchasing an additional 71,556 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Glaukos during the 3rd quarter worth $258,000. Finally, Tidal Investments LLC lifted its position in shares of Glaukos by 83.1% during the 3rd quarter. Tidal Investments LLC now owns 14,908 shares of the medical instruments supplier’s stock worth $1,942,000 after buying an additional 6,767 shares during the last quarter. 99.04% of the stock is owned by institutional investors.

Glaukos Stock Up 1.5 %

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 firm has a 50 day moving average of $109.20 and a two-hundred day moving average of $131.61. The firm has a market capitalization of $5.10 billion, a price-to-earnings ratio of -31.41 and a beta of 0.88.

Glaukos (NYSE:GKOS) last posted its quarterly earnings results on Thursday, February 20th. The medical instruments supplier reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.02). The company had revenue of $105.50 million during the quarter, compared to analyst estimates of $100.72 million. Glaukos had a negative net margin of 39.04% and a negative return on equity of 16.53%. As a group, sell-side analysts anticipate that Glaukos Co. will post -1.08 EPS for the current fiscal year.

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.