Glaukos (NYSE:GKOS) Trading Down 6.3% - Should You Sell?

Glaukos Co. (NYSE:GKOS - Get Free Report)'s stock price dropped 6.3% on Monday . The stock traded as low as $112.13 and last traded at $112.43. Approximately 148,654 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 716,805 shares. The stock had previously closed at $120.02.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Stephens raised shares of Glaukos to a "strong-buy" rating in a research note on Monday, December 2nd. Truist Financial increased their price objective on Glaukos from $152.00 to $185.00 and gave the stock a "buy" rating in a research report on Wednesday, December 18th. Piper Sandler reissued an "overweight" rating and set a $180.00 target price (up previously from $140.00) on shares of Glaukos in a research note on Monday, January 27th. Mizuho raised Glaukos from a "neutral" rating to an "outperform" rating and upped their price target for the company from $140.00 to $200.00 in a research note on Wednesday, February 19th. Finally, BTIG Research raised their price objective on Glaukos from $140.00 to $149.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $163.25.

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Glaukos Stock Down 7.9 %

The business has a fifty day moving average of $147.87 and a 200 day moving average of $139.14. The company has a market capitalization of $5.84 billion, a PE ratio of -35.99 and a beta of 1.04. The company has a current ratio of 5.54, a quick ratio of 4.71 and a debt-to-equity ratio of 0.19.

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

Insider Activity at Glaukos

In other news, COO Joseph E. Gilliam sold 3,328 shares of Glaukos stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $149.85, for a total value of $498,700.80. Following the completion of the transaction, the chief operating officer now owns 102,169 shares in the company, valued at approximately $15,310,024.65. This trade represents a 3.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gilbert H. Kliman sold 2,000 shares of Glaukos stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $144.01, for a total value of $288,020.00. Following the completion of the transaction, the director now owns 32,336 shares of the company's stock, valued at $4,656,707.36. The trade was a 5.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,744 shares of company stock worth $2,792,151 in the last three months. 6.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Glaukos

Hedge funds and other institutional investors have recently made changes to their positions in the stock. WCM Investment Management LLC boosted its stake in shares of Glaukos by 45.7% in the 3rd quarter. WCM Investment Management LLC now owns 99,155 shares of the medical instruments supplier's stock valued at $12,721,000 after buying an additional 31,084 shares during the period. BNP Paribas Financial Markets lifted its stake in Glaukos by 186.9% during the third quarter. BNP Paribas Financial Markets now owns 13,726 shares of the medical instruments supplier's stock worth $1,788,000 after purchasing an additional 8,942 shares during the last quarter. First Turn Management LLC purchased a new stake in Glaukos during the third quarter worth approximately $12,520,000. Harbor Capital Advisors Inc. purchased a new stake in Glaukos during the fourth quarter worth approximately $3,679,000. Finally, Victory Capital Management Inc. lifted its stake in Glaukos by 421.8% during the third quarter. Victory Capital Management Inc. now owns 79,211 shares of the medical instruments supplier's stock worth $10,320,000 after purchasing an additional 64,031 shares during the last quarter. Hedge funds and other institutional investors own 99.04% of the company's stock.

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.