Glaukos (NYSE:GKOS) Shares Gap Down - Here's What Happened

Glaukos Co. (NYSE:GKOS - Get Free Report) shares gapped down before the market opened on Tuesday . The stock had previously closed at $131.38, but opened at $125.00. Glaukos shares last traded at $126.75, with a volume of 337,633 shares.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of Glaukos from $130.00 to $145.00 and gave the stock an "overweight" rating in a research note on Tuesday. Truist Financial boosted their target price on shares of Glaukos from $145.00 to $152.00 and gave the company a "buy" rating in a research note on Monday, October 14th. Piper Sandler set a $140.00 target price on shares of Glaukos in a research note on Thursday, October 17th. BTIG Research boosted their target price on shares of Glaukos from $131.00 to $139.00 and gave the company a "buy" rating in a research note on Wednesday, August 28th. Finally, Wells Fargo & Company boosted their target price on shares of Glaukos from $135.00 to $145.00 and gave the company an "overweight" rating in a research note on Tuesday. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $134.55.

Glaukos Price Performance

The stock has a market capitalization of $7.02 billion, a P/E ratio of -39.72 and a beta of 1.02. The company has a current ratio of 5.48, a quick ratio of 4.67 and a debt-to-equity ratio of 0.19. The company has a fifty day simple moving average of $129.64 and a two-hundred day simple moving average of $119.98.

Glaukos (NYSE:GKOS - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.48) by $0.20. The firm had revenue of $96.70 million during the quarter, compared to analysts' expectations of $91.50 million. Glaukos had a negative return on equity of 22.51% and a negative net margin of 47.39%. The company's quarterly revenue was up 23.9% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.50) EPS. Sell-side analysts expect that Glaukos Co. will post -2.16 EPS for the current fiscal year.

Insider Activity at Glaukos

In related news, COO Joseph E. Gilliam sold 5,000 shares of the business's stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $129.36, for a total value of $646,800.00. Following the completion of the transaction, the chief operating officer now directly owns 102,169 shares in the company, valued at approximately $13,216,581.84. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Glaukos news, Director Aimee S. Weisner sold 25,000 shares of the company's stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $120.00, for a total transaction of $3,000,000.00. Following the completion of the transaction, the director now owns 30,119 shares of the company's stock, valued at $3,614,280. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Joseph E. Gilliam sold 5,000 shares of the company's stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $129.36, for a total value of $646,800.00. Following the transaction, the chief operating officer now directly owns 102,169 shares of the company's stock, valued at approximately $13,216,581.84. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 41,525 shares of company stock worth $5,142,029. 6.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Glaukos

Institutional investors and hedge funds have recently made changes to their positions in the stock. Values First Advisors Inc. bought a new stake in shares of Glaukos during the 3rd quarter worth approximately $25,000. GAMMA Investing LLC raised its stake in Glaukos by 68.8% in the 2nd quarter. GAMMA Investing LLC now owns 1,192 shares of the medical instruments supplier's stock valued at $141,000 after acquiring an additional 486 shares during the period. Fifth Third Wealth Advisors LLC bought a new stake in Glaukos in the 2nd quarter valued at $187,000. Brighton Jones LLC bought a new stake in Glaukos in the 2nd quarter valued at $208,000. Finally, Procyon Advisors LLC bought a new stake in Glaukos in the 3rd quarter valued at $210,000. 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.