Glaukos (NYSE:GKOS) Stock Rating Lowered by Wall Street Zen

Glaukos (NYSE:GKOS) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

A number of other equities research analysts have also recently commented on GKOS. William Blair reaffirmed an “outperform” rating on shares of Glaukos in a report on Tuesday, May 26th. Truist Financial increased their price objective on Glaukos from $160.00 to $180.00 and gave the company a “buy” rating in a report on Thursday. BTIG Research reissued a “buy” rating and issued a $164.00 target price on shares of Glaukos in a research report on Monday, July 13th. JPMorgan Chase & Co. boosted their target price on Glaukos from $120.00 to $140.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Finally, Citigroup upped their price target on Glaukos from $162.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Thirteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Glaukos currently has a consensus rating of “Moderate Buy” and an average target price of $154.85.

Glaukos Price Performance

Shares of NYSE:GKOS opened at $156.97 on Friday. The company has a market capitalization of $9.22 billion, a P/E ratio of -47.86 and a beta of 0.75. The company’s 50-day moving average is $134.39 and its 200 day moving average is $122.08. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.73 and a current ratio of 5.43. Glaukos has a fifty-two week low of $73.16 and a fifty-two week high of $161.53.

Glaukos (NYSE:GKOS) last posted its quarterly earnings data on Wednesday, April 29th. The medical instruments supplier reported ($0.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.12. The business had revenue of $150.57 million during the quarter, compared to the consensus estimate of $137.00 million. Glaukos had a negative net margin of 34.34% and a negative return on equity of 6.92%. The firm’s quarterly revenue was up 41.2% compared to the same quarter last year. During the same quarter last year, the company posted ($0.22) earnings per share. On average, equities research analysts forecast that Glaukos will post -0.57 earnings per share for the current year.

Insider Buying and Selling at Glaukos

In other Glaukos news, COO Joseph E. Gilliam sold 19,573 shares of the business’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $143.54, for a total transaction of $2,809,508.42. Following the sale, the chief operating officer owned 73,419 shares of the company’s stock, valued at $10,538,563.26. The trade was a 21.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Alex R. Thurman sold 10,000 shares of the stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $140.00, for a total value of $1,400,000.00. Following the sale, the chief financial officer owned 43,681 shares in the company, valued at approximately $6,115,340. This represents a 18.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 61,273 shares of company stock valued at $8,882,003 over the last 90 days. 5.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Glaukos

A number of hedge funds and other institutional investors have recently made changes to their positions in GKOS. Janus Henderson Group PLC boosted its stake in Glaukos by 77.2% in the 1st quarter. Janus Henderson Group PLC now owns 5,348,395 shares of the medical instruments supplier’s stock worth $575,844,000 after purchasing an additional 2,329,608 shares during the period. Wellington Management Group LLP grew its holdings in Glaukos by 10.4% during the 3rd quarter. Wellington Management Group LLP now owns 3,580,670 shares of the medical instruments supplier’s stock valued at $292,004,000 after buying an additional 336,266 shares in the last quarter. Primecap Management Co. CA increased its position in shares of Glaukos by 49.8% during the fourth quarter. Primecap Management Co. CA now owns 3,376,928 shares of the medical instruments supplier’s stock valued at $381,289,000 after buying an additional 1,123,140 shares during the period. State Street Corp increased its position in shares of Glaukos by 0.9% during the fourth quarter. State Street Corp now owns 2,122,402 shares of the medical instruments supplier’s stock valued at $239,640,000 after buying an additional 18,040 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Glaukos by 3.5% in the second quarter. Ameriprise Financial Inc. now owns 1,999,252 shares of the medical instruments supplier’s stock worth $206,503,000 after buying an additional 68,497 shares in the last quarter. 99.04% of the stock is currently owned by institutional investors.

Glaukos Company Profile

Glaukos Corporation is a medical technology company specializing in the development, manufacturing and commercialization of innovative therapies for patients with glaucoma and other chronic eye diseases. The company’s core offerings focus on micro-invasive glaucoma surgery (MIGS), designed to reduce intraocular pressure and manage glaucoma more safely and effectively than traditional surgical approaches. Glaukos’s flagship products include the iStent, iStent inject and iStent infinite trabecular micro-bypass stents, which are implanted during cataract surgery to improve aqueous outflow and help control eye pressure.

Beyond its MIGS portfolio, Glaukos has expanded into sustained drug-delivery solutions.