Glaukos (NYSE:GKOS) Downgraded to Underweight Rating by Morgan Stanley

Morgan Stanley lowered shares of Glaukos (NYSE:GKOS - Free Report) from an equal weight rating to an underweight rating in a research report released on Monday, Marketbeat.com reports. The brokerage currently has $120.00 price objective on the medical instruments supplier's stock.

Other equities analysts have also issued reports about the company. BTIG Research lifted their price objective on Glaukos from $140.00 to $149.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. Piper Sandler set a $140.00 price target on Glaukos in a research report on Thursday, October 17th. JPMorgan Chase & Co. increased their price objective on Glaukos from $130.00 to $145.00 and gave the company an "overweight" rating in a research report on Tuesday, November 5th. Truist Financial boosted their target price on shares of Glaukos from $145.00 to $152.00 and gave the stock a "buy" rating in a research report on Monday, October 14th. Finally, StockNews.com raised shares of Glaukos from a "sell" rating to a "hold" rating in a report on Monday, October 21st. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $136.18.

Glaukos Stock Performance

GKOS traded down $4.57 on Monday, hitting $139.08. The company had a trading volume of 478,848 shares, compared to its average volume of 569,678. Glaukos has a 1-year low of $59.58 and a 1-year high of $146.86. The company has a debt-to-equity ratio of 0.19, a current ratio of 5.54 and a quick ratio of 4.71. The company's fifty day moving average price is $134.13 and its 200 day moving average price is $124.96. The stock has a market cap of $7.67 billion, a price-to-earnings ratio of -47.08 and a beta of 1.02.

Glaukos (NYSE:GKOS - Get Free Report) last posted its earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.48) by $0.20. The business had revenue of $96.70 million for the quarter, compared to analyst estimates of $91.50 million. Glaukos had a negative net margin of 42.43% and a negative return on equity of 18.99%. Glaukos's revenue was up 23.9% compared to the same quarter last year. During the same period last year, the business posted ($0.50) EPS. Equities analysts predict that Glaukos will post -1.91 earnings per share for the current fiscal year.

Insider Transactions at Glaukos

In other news, Director Gilbert H. Kliman sold 3,000 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $130.67, for a total value of $392,010.00. Following the completion of the transaction, the director now directly owns 32,336 shares of the company's stock, valued at approximately $4,225,345.12. This represents a 8.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Joseph E. Gilliam sold 2,275 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $138.97, for a total value of $316,156.75. Following the transaction, the chief operating officer now owns 102,169 shares of the company's stock, valued at $14,198,425.93. This represents a 2.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Glaukos

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. HighTower Advisors LLC lifted its position in shares of Glaukos by 3.3% during the third quarter. HighTower Advisors LLC now owns 3,207 shares of the medical instruments supplier's stock worth $416,000 after purchasing an additional 103 shares in the last quarter. EFG Asset Management North America Corp. lifted its holdings in Glaukos by 0.5% during the 2nd quarter. EFG Asset Management North America Corp. now owns 27,205 shares of the medical instruments supplier's stock worth $3,216,000 after buying an additional 128 shares in the last quarter. Values First Advisors Inc. bought a new position in Glaukos in the 3rd quarter valued at $25,000. New York State Teachers Retirement System increased its stake in shares of Glaukos by 0.4% in the 3rd quarter. New York State Teachers Retirement System now owns 48,143 shares of the medical instruments supplier's stock valued at $6,272,000 after buying an additional 200 shares during the period. Finally, KBC Group NV raised its position in shares of Glaukos by 16.2% during the third quarter. KBC Group NV now owns 1,445 shares of the medical instruments supplier's stock worth $188,000 after acquiring an additional 201 shares during the last quarter. 99.04% of the stock is owned by institutional investors and hedge funds.

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.