Glaukos (NYSE:GKOS) Reaches New 52-Week Low - What's Next?

Glaukos Co. (NYSE:GKOS - Get Free Report)'s stock price reached a new 52-week low during trading on Thursday . The company traded as low as $88.75 and last traded at $90.15, with a volume of 473789 shares trading hands. The stock had previously closed at $100.04.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on GKOS. Piper Sandler reaffirmed an "overweight" rating and set a $180.00 price objective (up from $140.00) on shares of Glaukos in a report on Monday, January 27th. Mizuho raised shares of Glaukos from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $140.00 to $200.00 in a research report on Wednesday, February 19th. Stifel Nicolaus raised their price target on Glaukos from $153.00 to $175.00 and gave the company a "buy" rating in a research report on Tuesday, December 31st. Needham & Company LLC boosted their price objective on Glaukos from $149.00 to $176.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Finally, Citigroup upgraded Glaukos from a "neutral" rating to a "buy" rating and increased their target price for the company from $132.00 to $162.00 in a research note on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, one has given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $163.25.

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Glaukos Price Performance

The company has a market cap of $4.63 billion, a price-to-earnings ratio of -28.51 and a beta of 0.88. 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 company has a fifty day moving average price of $119.36 and a two-hundred day moving average price of $133.69.

Glaukos (NYSE:GKOS - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The medical instruments supplier reported ($0.40) earnings per share for the quarter, missing analysts' consensus estimates of ($0.38) by ($0.02). The business had revenue of $105.50 million for the quarter, compared to analyst estimates of $100.72 million. Glaukos had a negative return on equity of 16.53% and a negative net margin of 39.04%. As a group, equities research analysts anticipate that Glaukos Co. will post -1.08 EPS for the current fiscal year.

Insider Activity at Glaukos

In related news, CFO Alex R. Thurman sold 1,520 shares of the business's stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $106.84, for a total value of $162,396.80. Following the sale, the chief financial officer now owns 53,431 shares of the company's stock, valued at $5,708,568.04. The trade was a 2.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Tomas Navratil sold 3,416 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $147.14, for a total value of $502,630.24. Following the transaction, the insider now owns 72,437 shares of the company's stock, valued at $10,658,380.18. This represents a 4.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Glaukos

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. William Blair Investment Management LLC bought a new position in shares of Glaukos in the fourth quarter valued at approximately $121,390,000. Alliancebernstein L.P. boosted its stake in Glaukos by 1,235.4% in the fourth quarter. Alliancebernstein L.P. now owns 816,153 shares of the medical instruments supplier's stock worth $122,374,000 after purchasing an additional 755,035 shares in the last quarter. Norges Bank bought a new stake in shares of Glaukos during the fourth quarter worth $84,490,000. Gilder Gagnon Howe & Co. LLC increased its stake in shares of Glaukos by 25.3% in the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 825,276 shares of the medical instruments supplier's stock valued at $123,742,000 after buying an additional 166,677 shares in the last quarter. Finally, Voya Investment Management LLC raised its holdings in shares of Glaukos by 266.2% in the fourth quarter. Voya Investment Management LLC now owns 200,698 shares of the medical instruments supplier's stock valued at $30,093,000 after buying an additional 145,890 shares during the last quarter. 99.04% of the stock is currently 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.