Glaukos (NYSE:GKOS) Cut to Hold at Wall Street Zen

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

A number of other equities analysts also recently issued reports on GKOS. HC Wainwright started coverage on shares of Glaukos in a report on Monday, July 6th. They issued a “buy” rating and a $168.00 price objective on the stock. JPMorgan Chase & Co. increased their price target on shares of Glaukos from $120.00 to $140.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Piper Sandler reiterated an “overweight” rating and set a $165.00 price target on shares of Glaukos in a research note on Wednesday, July 1st. Truist Financial upped their price objective on Glaukos from $160.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday, July 16th. Finally, BTIG Research reissued a “buy” rating and set a $164.00 price target on shares of Glaukos in a report on Monday, July 13th. Thirteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $154.85.

Glaukos Trading Down 0.8%

NYSE:GKOS opened at $155.54 on Friday. The company has a market cap of $9.13 billion, a PE ratio of -47.42 and a beta of 0.75. The company has a current ratio of 5.43, a quick ratio of 4.73 and a debt-to-equity ratio of 0.10. The company has a 50 day simple moving average of $134.80 and a two-hundred day simple moving average of $122.38. Glaukos has a 12 month low of $73.16 and a 12 month high of $161.53.

Glaukos (NYSE:GKOS) last released its quarterly earnings results on Wednesday, April 29th. The medical instruments supplier reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.12. Glaukos had a negative return on equity of 6.92% and a negative net margin of 34.34%.The firm had revenue of $150.57 million for the quarter, compared to analysts’ expectations of $137.00 million. During the same period in the prior year, the firm earned ($0.22) EPS. The company’s revenue was up 41.2% compared to the same quarter last year. Research analysts forecast that Glaukos will post -0.57 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Gilbert H. Kliman sold 5,000 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $140.76, for a total value of $703,800.00. Following the transaction, the director owned 35,528 shares of the company’s stock, valued at approximately $5,000,921.28. The trade was a 12.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Leana Wen sold 1,700 shares of the firm’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $143.35, for a total transaction of $243,695.00. Following the transaction, the director directly owned 19,739 shares of the company’s stock, valued at $2,829,585.65. The trade was a 7.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 61,273 shares of company stock valued at $8,882,003 over the last three months. Insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Glaukos

Large investors have recently made changes to their positions in the company. Janus Henderson Group PLC grew its holdings in Glaukos by 77.2% during the 1st quarter. Janus Henderson Group PLC now owns 5,348,395 shares of the medical instruments supplier’s stock valued at $575,844,000 after buying an additional 2,329,608 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Glaukos by 10.4% during the 3rd quarter. Wellington Management Group LLP now owns 3,580,670 shares of the medical instruments supplier’s stock valued at $292,004,000 after acquiring an additional 336,266 shares during the last quarter. Primecap Management Co. CA boosted its position in shares of Glaukos by 49.8% during the 4th quarter. Primecap Management Co. CA now owns 3,376,928 shares of the medical instruments supplier’s stock valued at $381,289,000 after acquiring an additional 1,123,140 shares during the last quarter. State Street Corp grew its holdings in shares of Glaukos by 0.9% in the fourth quarter. State Street Corp now owns 2,122,402 shares of the medical instruments supplier’s stock valued at $239,640,000 after purchasing an additional 18,040 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Glaukos by 3.5% in the second quarter. Ameriprise Financial Inc. now owns 1,999,252 shares of the medical instruments supplier’s stock valued at $206,503,000 after purchasing an additional 68,497 shares in the last quarter. 99.04% of the stock is owned by institutional investors.

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.