Glaukos (NYSE:GKOS) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of Glaukos (NYSE:GKOS) from a buy rating to a hold rating in a research note released on Saturday morning.

Several other analysts have also issued reports on GKOS. Needham & Company LLC upped their target price on Glaukos from $125.00 to $127.00 and gave the stock a “buy” rating in a report on Wednesday, February 18th. Truist Financial boosted their price target on Glaukos from $120.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, December 18th. Citigroup upped their price objective on Glaukos from $113.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. UBS Group raised their target price on shares of Glaukos from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, December 23rd. Finally, BTIG Research restated a “buy” rating and set a $131.00 target price on shares of Glaukos in a report on Wednesday, February 18th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Glaukos has an average rating of “Moderate Buy” and an average target price of $133.69.

Glaukos Price Performance

NYSE GKOS opened at $120.27 on Friday. The company has a quick ratio of 4.06, a current ratio of 4.69 and a debt-to-equity ratio of 0.10. Glaukos has a 12-month low of $73.16 and a 12-month high of $130.69. The company has a market capitalization of $6.91 billion, a PE ratio of -36.89 and a beta of 0.70. The firm’s 50 day moving average is $115.47 and its 200-day moving average is $99.23.

Glaukos (NYSE:GKOS) last announced its earnings results on Tuesday, February 17th. The medical instruments supplier reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.06). The business had revenue of $143.12 million for the quarter, compared to analyst estimates of $132.16 million. Glaukos had a negative return on equity of 7.00% and a negative net margin of 36.99%.The business’s revenue for the quarter was up 35.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.40) EPS. Equities research analysts anticipate that Glaukos will post -1.08 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Marc Stapley sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $127.71, for a total value of $1,915,650.00. Following the transaction, the director owned 37,449 shares of the company’s stock, valued at approximately $4,782,611.79. This represents a 28.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Joseph E. Gilliam sold 10,498 shares of the business’s stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $127.68, for a total value of $1,340,384.64. Following the completion of the sale, the chief operating officer owned 92,366 shares of the company’s stock, valued at $11,793,290.88. This trade represents a 10.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 325,000 shares of company stock valued at $37,739,259. 6.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Glaukos

A number of institutional investors have recently modified their holdings of GKOS. UMB Bank n.a. increased its position in Glaukos by 102.6% during the third quarter. UMB Bank n.a. now owns 312 shares of the medical instruments supplier’s stock worth $25,000 after acquiring an additional 158 shares during the period. First Horizon Corp boosted its holdings in Glaukos by 1,715.4% in the 4th quarter. First Horizon Corp now owns 236 shares of the medical instruments supplier’s stock valued at $27,000 after purchasing an additional 223 shares during the period. Los Angeles Capital Management LLC acquired a new position in shares of Glaukos during the 4th quarter worth approximately $28,000. Larson Financial Group LLC increased its holdings in shares of Glaukos by 62.0% during the fourth quarter. Larson Financial Group LLC now owns 345 shares of the medical instruments supplier’s stock worth $39,000 after purchasing an additional 132 shares during the period. Finally, REAP Financial Group LLC bought a new position in shares of Glaukos during the third quarter worth approximately $40,000. Institutional investors own 99.04% of the company’s stock.

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.