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

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

A number of other brokerages have also commented on GKOS. Citigroup boosted their target price on Glaukos from $113.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Piper Sandler reaffirmed an “overweight” rating and set a $165.00 target price on shares of Glaukos in a research report on Wednesday, January 14th. Wells Fargo & Company lifted their price target on shares of Glaukos from $122.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday. Stifel Nicolaus upped their price objective on shares of Glaukos from $115.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Finally, William Blair upgraded shares of Glaukos to a “strong-buy” rating in a report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $133.69.

Glaukos Price Performance

Shares of NYSE GKOS opened at $120.41 on Friday. The company has a market capitalization of $6.92 billion, a PE ratio of -36.93 and a beta of 0.70. The company has a quick ratio of 4.47, a current ratio of 4.69 and a debt-to-equity ratio of 0.10. The firm has a fifty day simple moving average of $115.30 and a 200 day simple moving average of $98.86. Glaukos has a twelve month low of $73.16 and a twelve month high of $142.95.

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

Insider Buying and Selling at Glaukos

In other Glaukos news, CFO Alex R. Thurman sold 315 shares of the business’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $105.00, for a total value of $33,075.00. Following the transaction, the chief financial officer owned 50,488 shares of the company’s stock, valued at approximately $5,301,240. The trade was a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Thomas William Burns sold 186,945 shares of the firm’s stock in a transaction on Friday, January 16th. The shares were sold at an average price of $115.00, for a total value of $21,498,675.00. Following the sale, the chief executive officer directly owned 153,775 shares of the company’s stock, valued at approximately $17,684,125. This represents a 54.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 310,315 shares of company stock valued at $36,011,634 in the last quarter. 5.80% of the stock is owned by company insiders.

Institutional Trading of Glaukos

Large investors have recently added to or reduced their stakes in the stock. Riverbridge Partners LLC increased its position in Glaukos by 41.0% in the third quarter. Riverbridge Partners LLC now owns 569,644 shares of the medical instruments supplier’s stock worth $46,454,000 after buying an additional 165,673 shares during the last quarter. Holocene Advisors LP lifted its position in shares of Glaukos by 40.1% during the 2nd quarter. Holocene Advisors LP now owns 1,045,886 shares of the medical instruments supplier’s stock valued at $108,030,000 after buying an additional 299,118 shares during the last quarter. State of New Jersey Common Pension Fund D grew its stake in shares of Glaukos by 4.2% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 19,905 shares of the medical instruments supplier’s stock worth $2,056,000 after acquiring an additional 800 shares during the period. Baird Financial Group Inc. increased its holdings in Glaukos by 17.7% in the 2nd quarter. Baird Financial Group Inc. now owns 63,379 shares of the medical instruments supplier’s stock worth $6,546,000 after acquiring an additional 9,545 shares during the last quarter. Finally, Public Sector Pension Investment Board increased its holdings in Glaukos by 14.8% in the 3rd quarter. Public Sector Pension Investment Board now owns 223,708 shares of the medical instruments supplier’s stock worth $18,243,000 after acquiring an additional 28,866 shares during the last quarter. Hedge funds and other institutional investors own 99.04% of the company’s stock.

About Glaukos

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.