StockNews.com Lowers Glaukos (NYSE:GKOS) to Sell

Glaukos (NYSE:GKOS - Get Free Report) was downgraded by research analysts at StockNews.com from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Friday.

Several other research analysts have also weighed in on the stock. Wells Fargo & Company upped their target price on shares of Glaukos from $120.00 to $135.00 and gave the stock an "overweight" rating in a research report on Thursday, August 1st. Needham & Company LLC raised their price objective on shares of Glaukos from $131.00 to $137.00 and gave the stock a "buy" rating in a research note on Thursday, August 1st. Piper Sandler upped their target price on Glaukos from $110.00 to $140.00 and gave the company an "overweight" rating in a research note on Thursday, August 1st. Truist Financial reissued a "buy" rating and set a $145.00 price target (up previously from $141.00) on shares of Glaukos in a research report on Thursday, August 1st. Finally, JPMorgan Chase & Co. upped their price objective on Glaukos from $108.00 to $110.00 and gave the company an "overweight" rating in a research report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, Glaukos has an average rating of "Moderate Buy" and an average target price of $128.45.

Glaukos Stock Performance

NYSE GKOS traded up $1.23 on Friday, reaching $133.82. The stock had a trading volume of 448,813 shares, compared to its average volume of 585,652. The stock has a market cap of $6.74 billion, a P/E ratio of -46.47 and a beta of 1.05. Glaukos has a 12-month low of $59.22 and a 12-month high of $136.36. The business's 50-day moving average price is $122.24 and its 200 day moving average price is $107.60. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.68 and a current ratio of 5.48.

Glaukos (NYSE:GKOS - Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The medical instruments supplier reported ($0.52) EPS for the quarter, meeting analysts' consensus estimates of ($0.52). The company had revenue of $95.70 million for the quarter, compared to analyst estimates of $88.86 million. Glaukos had a negative net margin of 47.39% and a negative return on equity of 22.51%. Glaukos's quarterly revenue was up 19.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.55) earnings per share. As a group, equities analysts expect that Glaukos will post -2.25 earnings per share for the current year.

Insider Buying and Selling at Glaukos

In related news, COO Joseph E. Gilliam sold 2,500 shares of the company's stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $113.50, for a total value of $283,750.00. Following the sale, the chief operating officer now directly owns 101,845 shares of the company's stock, valued at $11,559,407.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Glaukos news, COO Joseph E. Gilliam sold 2,500 shares of the company's stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $113.50, for a total transaction of $283,750.00. Following the sale, the chief operating officer now owns 101,845 shares in the company, valued at $11,559,407.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Marc Stapley sold 6,250 shares of Glaukos stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $125.93, for a total value of $787,062.50. Following the completion of the transaction, the director now owns 34,076 shares of the company's stock, valued at approximately $4,291,190.68. The disclosure for this sale can be found here. Insiders have sold a total of 41,000 shares of company stock valued at $4,990,740 in the last three months. Corporate insiders own 6.40% of the company's stock.

Hedge Funds Weigh In On Glaukos

A number of large investors have recently bought and sold shares of the business. National Bank of Canada FI bought a new stake in Glaukos in the fourth quarter valued at $46,000. Quadrant Capital Group LLC lifted its position in Glaukos by 54.8% in the 4th quarter. Quadrant Capital Group LLC now owns 929 shares of the medical instruments supplier's stock valued at $74,000 after purchasing an additional 329 shares during the last quarter. Caldwell Sutter Capital Inc. boosted its stake in Glaukos by 5,860.0% during the 1st quarter. Caldwell Sutter Capital Inc. now owns 1,490 shares of the medical instruments supplier's stock valued at $140,000 after purchasing an additional 1,465 shares during the period. GAMMA Investing LLC grew its position in Glaukos by 68.8% in the 2nd quarter. GAMMA Investing LLC now owns 1,192 shares of the medical instruments supplier's stock worth $141,000 after purchasing an additional 486 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC acquired a new stake in shares of Glaukos in the second quarter valued at approximately $187,000. 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.

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