Glaukos (NYSE:GKOS) Reaches New 1-Year Low Following Analyst Downgrade

Glaukos Co. (NYSE:GKOS) hit a new 52-week low during mid-day trading on Thursday after Stephens lowered their price target on the stock from $140.00 to $115.00. Stephens currently has an overweight rating on the stock. Glaukos traded as low as $77.29 and last traded at $81.29, with a volume of 335057 shares traded. The stock had previously closed at $94.25.

Other equities research analysts also recently issued reports about the stock. Piper Sandler lowered their target price on shares of Glaukos from $180.00 to $165.00 and set an “overweight” rating for the company in a report on Tuesday, April 15th. Mizuho dropped their price objective on Glaukos from $200.00 to $175.00 and set an “outperform” rating for the company in a report on Wednesday, April 16th. Truist Financial reiterated a “buy” rating and issued a $135.00 target price (down previously from $140.00) on shares of Glaukos in a report on Thursday. Wells Fargo & Company lowered Glaukos from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $160.00 to $86.00 in a research note on Thursday. Finally, Needham & Company LLC reduced their price objective on Glaukos from $176.00 to $115.00 and set a “buy” rating on the stock in a research note on Thursday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $137.62.

Insider Transactions at Glaukos

In other Glaukos 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 transaction of $162,396.80. Following the sale, the chief financial officer now directly owns 53,431 shares of the company’s stock, valued at approximately $5,708,568.04. This represents a 2.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 completion of the transaction, the insider now directly owns 72,437 shares of the company’s stock, valued at $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. Corporate insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Glaukos

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Glaukos by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 5,974,971 shares of the medical instruments supplier’s stock valued at $895,887,000 after purchasing an additional 101,838 shares during the period. Invesco Ltd. lifted its stake in Glaukos by 4.9% in the fourth quarter. Invesco Ltd. now owns 1,458,635 shares of the medical instruments supplier’s stock valued at $218,708,000 after buying an additional 68,310 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Glaukos by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 1,197,215 shares of the medical instruments supplier’s stock valued at $179,555,000 after acquiring an additional 25,199 shares during the period. Gilder Gagnon Howe & Co. LLC grew its position in shares of Glaukos by 25.3% during the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 825,276 shares of the medical instruments supplier’s stock worth $123,742,000 after acquiring an additional 166,677 shares during the last quarter. Finally, Alliancebernstein L.P. increased its holdings in shares of Glaukos by 1,235.4% in the 4th quarter. Alliancebernstein L.P. now owns 816,153 shares of the medical instruments supplier’s stock worth $122,374,000 after acquiring an additional 755,035 shares during the period. 99.04% of the stock is currently owned by institutional investors and hedge funds.

Glaukos Stock Performance

The company has a current ratio of 5.54, a quick ratio of 4.71 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $5.00 billion, a P/E ratio of -30.52 and a beta of 0.88. The company’s 50-day moving average is $97.60 and its two-hundred day moving average is $128.81.

Glaukos (NYSE:GKOS) last issued its quarterly earnings data on Wednesday, April 30th. The medical instruments supplier reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.11. The business had revenue of $106.66 million for the quarter, compared to analysts’ expectations of $102.78 million. Glaukos had a negative net margin of 39.04% and a negative return on equity of 16.53%. The company’s revenue was up 24.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.70) earnings per share. 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.