Stephens Issues Pessimistic Forecast for Glaukos (NYSE:GKOS) Stock Price

Glaukos (NYSE:GKOS) had its price objective cut by investment analysts at Stephens from $140.00 to $115.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the medical instruments supplier’s stock. Stephens’ target price indicates a potential upside of 31.28% from the stock’s current price.

Several other research analysts have also weighed in on GKOS. Stifel Nicolaus lowered their target price on shares of Glaukos from $140.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday. Wells Fargo & Company lowered Glaukos from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $160.00 to $86.00 in a research note on Thursday. Needham & Company LLC dropped their price objective on Glaukos from $176.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday. Mizuho reduced their price objective on Glaukos from $200.00 to $175.00 and set an “outperform” rating for the company in a report on Wednesday, April 16th. Finally, Piper Sandler lowered their target price on Glaukos from $180.00 to $165.00 and set an “overweight” rating on the stock in a report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Glaukos currently has a consensus rating of “Moderate Buy” and an average target price of $137.62.

Glaukos Price Performance

Shares of NYSE:GKOS opened at $87.60 on Friday. Glaukos has a 52 week low of $77.10 and a 52 week high of $163.71. The company has a 50-day moving average price of $97.60 and a 200 day moving average price of $128.82. The company has a market cap of $5.00 billion, a P/E ratio of -30.52 and a beta of 0.88. The company has a quick ratio of 4.71, a current ratio of 5.54 and a debt-to-equity ratio of 0.19.

Glaukos (NYSE:GKOS) last posted its quarterly earnings results on Wednesday, April 30th. The medical instruments supplier reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.11. The business had revenue of $106.66 million during the quarter, compared to analysts’ expectations of $102.78 million. Glaukos had a negative return on equity of 16.53% and a negative net margin of 39.04%. The company’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same period last year, the firm earned ($0.70) EPS. Research analysts predict that Glaukos will post -1.08 earnings per share for the current year.

Insider Transactions at Glaukos

In other Glaukos news, CFO Alex R. Thurman sold 1,520 shares of Glaukos stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $106.84, for a total value of $162,396.80. Following the transaction, the chief financial officer now owns 53,431 shares in the company, valued at $5,708,568.04. This trade represents a 2.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Tomas Navratil sold 3,416 shares of the company’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $147.14, for a total value of $502,630.24. Following the sale, the insider now owns 72,437 shares of the company’s stock, valued at approximately $10,658,380.18. The trade was a 4.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Glaukos

Institutional investors have recently added to or reduced their stakes in the company. Bessemer Group Inc. grew its holdings in shares of Glaukos by 133.9% during the 1st quarter. Bessemer Group Inc. now owns 276 shares of the medical instruments supplier’s stock worth $27,000 after purchasing an additional 158 shares during the period. Whipplewood Advisors LLC grew its stake in Glaukos by 3,957.1% during the first quarter. Whipplewood Advisors LLC now owns 284 shares of the medical instruments supplier’s stock worth $28,000 after buying an additional 277 shares during the period. IFP Advisors Inc acquired a new stake in shares of Glaukos in the fourth quarter worth $43,000. First Horizon Advisors Inc. raised its stake in shares of Glaukos by 72.9% in the 1st quarter. First Horizon Advisors Inc. now owns 377 shares of the medical instruments supplier’s stock valued at $37,000 after acquiring an additional 159 shares during the period. Finally, Versant Capital Management Inc lifted its holdings in shares of Glaukos by 583.9% during the 1st quarter. Versant Capital Management Inc now owns 383 shares of the medical instruments supplier’s stock valued at $38,000 after acquiring an additional 327 shares in the last quarter. Hedge funds and other institutional investors own 99.04% of the company’s stock.

About Glaukos

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.