Glaukos (NYSE:GKOS) Trading Down 3.4%

Glaukos Co. (NYSE:GKOS - Get Free Report)'s share price traded down 3.4% during trading on Tuesday . The stock traded as low as $119.82 and last traded at $120.00. 333,578 shares traded hands during trading, a decline of 43% from the average session volume of 581,144 shares. The stock had previously closed at $124.27.

Wall Street Analysts Forecast Growth

Several analysts recently commented on GKOS shares. Piper Sandler raised their target price on Glaukos from $110.00 to $140.00 and gave the stock an "overweight" rating in a report on Thursday, August 1st. BTIG Research lifted their target price on shares of Glaukos from $131.00 to $139.00 and gave the company a "buy" rating in a report on Wednesday, August 28th. Morgan Stanley increased their price target on shares of Glaukos from $100.00 to $120.00 and gave the stock an "equal weight" rating in a report on Monday, July 15th. Wells Fargo & Company lifted their price objective on shares of Glaukos from $120.00 to $135.00 and gave the company an "overweight" rating in a report on Thursday, August 1st. Finally, Truist Financial reissued a "buy" rating and set a $145.00 target price (up from $141.00) on shares of Glaukos in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $129.82.

Glaukos Stock Down 2.2 %

The stock has a market capitalization of $6.12 billion, a price-to-earnings ratio of -43.15 and a beta of 1.03. The business has a 50-day moving average of $124.57 and a 200-day moving average of $110.63. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.67 and a current ratio of 5.48.

Glaukos (NYSE:GKOS - Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The medical instruments supplier reported ($0.52) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.52). The business had revenue of $95.70 million during the quarter, compared to analysts' expectations of $88.86 million. Glaukos had a negative net margin of 47.39% and a negative return on equity of 22.51%. The business's revenue for the quarter was up 19.0% on a year-over-year basis. During the same period last year, the business earned ($0.55) earnings per share. On average, sell-side analysts expect that Glaukos Co. will post -2.18 EPS for the current year.

Insider Buying and Selling at Glaukos

In related news, Director Marc Stapley sold 6,250 shares of the business's stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $125.93, for a total transaction of $787,062.50. Following the completion of the transaction, the director now owns 34,076 shares in the company, valued at $4,291,190.68. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Glaukos news, Director Gilbert H. Kliman sold 3,000 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $130.67, for a total value of $392,010.00. Following the transaction, the director now directly owns 32,336 shares in the company, valued at $4,225,345.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Marc Stapley sold 6,250 shares of the firm's stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $125.93, for a total transaction of $787,062.50. Following the sale, the director now directly owns 34,076 shares in the company, valued at approximately $4,291,190.68. The disclosure for this sale can be found here. Insiders have sold 41,500 shares of company stock valued at $5,099,000 in the last quarter. Corporate insiders own 6.40% of the company's stock.

Hedge Funds Weigh In On Glaukos

Several large investors have recently bought and sold shares of the stock. Point72 Asset Management L.P. acquired a new stake in shares of Glaukos in the second quarter valued at approximately $67,460,000. Primecap Management Co. CA boosted its stake in Glaukos by 43.9% during the 2nd quarter. Primecap Management Co. CA now owns 1,220,815 shares of the medical instruments supplier's stock worth $144,483,000 after purchasing an additional 372,180 shares during the period. Norges Bank purchased a new position in Glaukos during the 4th quarter worth $28,807,000. Allspring Global Investments Holdings LLC increased its stake in Glaukos by 148.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 412,376 shares of the medical instruments supplier's stock valued at $48,805,000 after purchasing an additional 246,322 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Glaukos in the fourth quarter valued at about $15,065,000. Institutional investors and hedge funds 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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