Glaukos (NYSE:GKOS) Downgraded by Wall Street Zen to Hold

Wall Street Zen downgraded shares of Glaukos (NYSE:GKOS) from a buy rating to a hold rating in a research report released on Saturday morning.

GKOS has been the subject of a number of other reports. BTIG Research reaffirmed a “buy” rating and set a $131.00 price target on shares of Glaukos in a research note on Wednesday. The Goldman Sachs Group restated a “buy” rating and issued a $138.00 price objective on shares of Glaukos in a report on Friday, January 9th. UBS Group lifted their target price on Glaukos from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, December 23rd. Truist Financial boosted their price target on shares of Glaukos from $120.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, December 18th. Finally, Citigroup raised their price objective on shares of Glaukos from $113.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Glaukos presently has a consensus rating of “Moderate Buy” and an average target price of $133.69.

Glaukos Stock Up 2.8%

Glaukos stock opened at $120.41 on Friday. Glaukos has a 52 week low of $73.16 and a 52 week high of $142.95. The stock has a market cap of $6.92 billion, a price-to-earnings ratio of -36.93 and a beta of 0.70. The company’s 50-day moving average price is $115.30 and its two-hundred day moving average price is $98.93. The company has a current ratio of 4.69, a quick ratio of 4.47 and a debt-to-equity ratio of 0.10.

Glaukos (NYSE:GKOS) last issued its quarterly earnings results on Tuesday, February 17th. The medical instruments supplier reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.06). Glaukos had a negative return on equity of 7.00% and a negative net margin of 36.99%.The company had revenue of $143.12 million during the quarter, compared to analyst estimates of $132.16 million. During the same period in the prior year, the company posted ($0.40) earnings per share. The company’s revenue was up 35.6% on a year-over-year basis. On average, analysts expect that Glaukos will post -1.08 EPS for the current fiscal year.

Insider Activity

In other Glaukos news, Director Gilbert H. Kliman sold 5,000 shares of the company’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $107.27, for a total transaction of $536,350.00. Following the completion of the sale, the director directly owned 34,905 shares of the company’s stock, valued at approximately $3,744,259.35. This represents a 12.53% 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, CFO Alex R. Thurman sold 315 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $105.00, for a total transaction of $33,075.00. Following the completion of the transaction, the chief financial officer owned 50,488 shares of the company’s stock, valued at approximately $5,301,240. The trade was a 0.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 310,315 shares of company stock worth $36,011,634. 5.80% of the stock is owned by company insiders.

Institutional Trading of Glaukos

Several large investors have recently added to or reduced their stakes in GKOS. Invesco Ltd. boosted its position in shares of Glaukos by 28.5% in the fourth quarter. Invesco Ltd. now owns 780,267 shares of the medical instruments supplier’s stock worth $88,100,000 after buying an additional 172,825 shares during the period. Corient Private Wealth LLC raised its position in Glaukos by 999.3% during the fourth quarter. Corient Private Wealth LLC now owns 30,978 shares of the medical instruments supplier’s stock valued at $3,498,000 after buying an additional 28,160 shares during the period. Summit Global Investments lifted its stake in Glaukos by 151.3% in the 4th quarter. Summit Global Investments now owns 7,052 shares of the medical instruments supplier’s stock worth $796,000 after acquiring an additional 4,246 shares in the last quarter. Mackenzie Financial Corp lifted its stake in Glaukos by 331.8% in the 4th quarter. Mackenzie Financial Corp now owns 15,404 shares of the medical instruments supplier’s stock worth $1,756,000 after acquiring an additional 11,837 shares in the last quarter. Finally, Empowered Funds LLC acquired a new stake in Glaukos during the 4th quarter worth about $217,000. 99.04% of the stock is owned by institutional investors and hedge funds.

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.