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

Shares of Glaukos Corporation (NYSE:GKOS) gapped down before the market opened on Wednesday . The stock had previously closed at $110.23, but opened at $94.81. Glaukos shares last traded at $100.7110, with a volume of 483,949 shares traded.

Analyst Ratings Changes

A number of analysts have recently commented on GKOS shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Glaukos in a research note on Wednesday, October 8th. Citigroup raised their price objective on shares of Glaukos from $113.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Wells Fargo & Company lifted their target price on shares of Glaukos from $120.00 to $122.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Stephens upped their price target on shares of Glaukos from $115.00 to $145.00 and gave the company an “overweight” rating in a research report on Friday, January 2nd. Finally, UBS Group raised their price target on shares of Glaukos from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, December 23rd. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Glaukos has an average rating of “Moderate Buy” and an average target price of $127.92.

Glaukos Trading Down 8.2%

The stock has a market cap of $5.81 billion, a P/E ratio of -65.45 and a beta of 0.67. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.47 and a current ratio of 5.20. The firm’s fifty day simple moving average is $105.51 and its 200-day simple moving average is $95.27.

Glaukos (NYSE:GKOS) last posted its quarterly earnings data on Wednesday, October 29th. The medical instruments supplier reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.11. Glaukos had a negative net margin of 18.65% and a negative return on equity of 7.52%. The company had revenue of $133.54 million during the quarter, compared to analysts’ expectations of $122.55 million. During the same period in the prior year, the company posted ($0.28) earnings per share. Glaukos’s revenue for the quarter was up 38.1% compared to the same quarter last year. Equities research analysts expect that Glaukos Corporation will post -1.08 EPS for the current fiscal year.

Insider Activity

In other Glaukos news, CFO Alex R. Thurman sold 315 shares of Glaukos stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $105.00, for a total value of $33,075.00. Following the completion of the sale, the chief financial officer directly owned 50,488 shares in the company, valued at approximately $5,301,240. The trade was a 0.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gilbert H. Kliman sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $107.27, for a total value of $536,350.00. Following the completion of the transaction, the director directly owned 34,905 shares in the company, valued at approximately $3,744,259.35. This trade represents a 12.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 24,655 shares of company stock valued at $2,310,025 in the last ninety days. 6.40% of the stock is owned by company insiders.

Institutional Trading of Glaukos

Several hedge funds have recently modified their holdings of the stock. Norges Bank acquired a new position in shares of Glaukos during the 2nd quarter valued at $76,314,000. Primecap Management Co. CA increased its stake in Glaukos by 50.0% in the second quarter. Primecap Management Co. CA now owns 1,827,998 shares of the medical instruments supplier’s stock valued at $188,814,000 after purchasing an additional 609,523 shares in the last quarter. Alliancebernstein L.P. raised its holdings in shares of Glaukos by 38.5% during the third quarter. Alliancebernstein L.P. now owns 1,733,474 shares of the medical instruments supplier’s stock valued at $141,365,000 after purchasing an additional 481,620 shares during the period. AustralianSuper Pty Ltd acquired a new position in shares of Glaukos during the second quarter valued at about $41,946,000. Finally, William Blair Investment Management LLC boosted its position in shares of Glaukos by 52.4% during the 2nd quarter. William Blair Investment Management LLC now owns 1,136,095 shares of the medical instruments supplier’s stock worth $117,347,000 after purchasing an additional 390,805 shares in the last quarter. Institutional investors own 99.04% of the company’s stock.

About Glaukos

Glaukos Corporation is a medical technology company specializing in the development, manufacturing and commercialization of innovative therapies for patients with glaucoma and other chronic eye diseases. The company’s core offerings focus on micro-invasive glaucoma surgery (MIGS), designed to reduce intraocular pressure and manage glaucoma more safely and effectively than traditional surgical approaches. Glaukos’s flagship products include the iStent, iStent inject and iStent infinite trabecular micro-bypass stents, which are implanted during cataract surgery to improve aqueous outflow and help control eye pressure.

Beyond its MIGS portfolio, Glaukos has expanded into sustained drug-delivery solutions.