Glaukos (NYSE:GKOS) Downgraded by Wall Street Zen to Hold

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

A number of other equities research analysts have also recently issued reports on GKOS. Citigroup upped their target price on Glaukos from $162.00 to $175.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. JPMorgan Chase & Co. boosted their price objective on shares of Glaukos from $120.00 to $140.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. HC Wainwright began coverage on shares of Glaukos in a report on Monday, July 6th. They set a “buy” rating and a $168.00 price objective for the company. Piper Sandler reiterated an “overweight” rating and issued a $165.00 target price on shares of Glaukos in a research note on Wednesday, July 1st. Finally, Needham & Company LLC lifted their target price on shares of Glaukos from $136.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, June 17th. Thirteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $154.85.

Glaukos Stock Performance

Shares of GKOS opened at $156.97 on Friday. The firm has a market cap of $9.22 billion, a price-to-earnings ratio of -47.86 and a beta of 0.75. The company’s fifty day moving average is $134.39 and its 200-day moving average is $122.04. The company has a quick ratio of 4.73, a current ratio of 5.43 and a debt-to-equity ratio of 0.10. Glaukos has a 12 month low of $73.16 and a 12 month high of $161.53.

Glaukos (NYSE:GKOS) last issued 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. Glaukos had a negative net margin of 34.34% and a negative return on equity of 6.92%. The firm had revenue of $150.57 million during the quarter, compared to analysts’ expectations of $137.00 million. During the same period in the prior year, the company posted ($0.22) earnings per share. Glaukos’s revenue for the quarter was up 41.2% on a year-over-year basis. Equities analysts expect that Glaukos will post -0.57 EPS for the current fiscal year.

Insider Buying and Selling at Glaukos

In other Glaukos news, COO Joseph E. Gilliam sold 19,573 shares of the company’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $143.54, for a total value of $2,809,508.42. Following the sale, the chief operating officer directly owned 73,419 shares in the company, valued at $10,538,563.26. This represents a 21.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Gilbert H. Kliman sold 5,000 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $140.76, for a total transaction of $703,800.00. Following the completion of the sale, the director owned 35,528 shares in the company, valued at $5,000,921.28. This represents a 12.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 61,273 shares of company stock worth $8,882,003. Corporate insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Glaukos

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Janus Henderson Group PLC boosted its holdings in shares of 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 acquiring an additional 2,329,608 shares in the last quarter. Primecap Management Co. CA raised its position in Glaukos by 49.8% in the 4th quarter. Primecap Management Co. CA now owns 3,376,928 shares of the medical instruments supplier’s stock valued at $381,289,000 after purchasing an additional 1,123,140 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Glaukos by 209.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,350,425 shares of the medical instruments supplier’s stock worth $152,476,000 after purchasing an additional 913,458 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Glaukos by 75.3% during the fourth quarter. Millennium Management LLC now owns 1,609,699 shares of the medical instruments supplier’s stock worth $181,751,000 after purchasing an additional 691,289 shares during the last quarter. Finally, UBS Group AG increased its stake in shares of Glaukos by 316.0% in the fourth quarter. UBS Group AG now owns 873,942 shares of the medical instruments supplier’s stock valued at $98,677,000 after buying an additional 663,849 shares in the last quarter. 99.04% of the stock is currently owned by institutional investors and hedge funds.

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.