Glaukos (NYSE:GKOS) Rating Lowered to Sell at StockNews.com

StockNews.com downgraded shares of Glaukos (NYSE:GKOSGet Rating) from a hold rating to a sell rating in a report published on Tuesday morning.

GKOS has been the topic of a number of other research reports. Piper Sandler increased their price objective on shares of Glaukos from $55.00 to $60.00 and gave the stock a neutral rating in a research report on Thursday, November 3rd. Citigroup increased their price objective on shares of Glaukos from $54.00 to $57.00 in a research report on Wednesday, October 5th. JPMorgan Chase & Co. cut their price objective on shares of Glaukos from $52.00 to $48.00 and set an underweight rating on the stock in a research report on Thursday, November 3rd. Stephens began coverage on shares of Glaukos in a research report on Thursday, October 13th. They issued an overweight rating and a $69.00 price target on the stock. Finally, Needham & Company LLC dropped their price target on shares of Glaukos from $66.00 to $65.00 and set a buy rating on the stock in a research report on Thursday, November 3rd. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Glaukos presently has an average rating of Hold and a consensus price target of $60.13.

Glaukos Stock Performance

Shares of Glaukos stock opened at $47.22 on Tuesday. The company has a current ratio of 7.40, a quick ratio of 6.84 and a debt-to-equity ratio of 0.64. The business has a 50-day moving average price of $53.01 and a two-hundred day moving average price of $49.16. Glaukos has a 1-year low of $33.33 and a 1-year high of $64.49. The company has a market cap of $2.25 billion, a P/E ratio of -24.85 and a beta of 1.26.

Glaukos (NYSE:GKOSGet Rating) last released its quarterly earnings data on Wednesday, November 2nd. The medical instruments supplier reported ($0.45) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.08. The company had revenue of $71.27 million for the quarter, compared to analysts’ expectations of $67.88 million. Glaukos had a negative net margin of 31.45% and a negative return on equity of 16.16%. As a group, analysts anticipate that Glaukos will post -2.2 EPS for the current year.

Hedge Funds Weigh In On Glaukos

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Glaukos by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 5,380,720 shares of the medical instruments supplier’s stock worth $286,470,000 after buying an additional 23,473 shares in the last quarter. State Street Corp increased its stake in shares of Glaukos by 1.0% during the 2nd quarter. State Street Corp now owns 1,698,257 shares of the medical instruments supplier’s stock worth $77,135,000 after purchasing an additional 16,315 shares during the last quarter. Fred Alger Management LLC grew its stake in Glaukos by 34.3% in the 3rd quarter. Fred Alger Management LLC now owns 1,402,110 shares of the medical instruments supplier’s stock valued at $74,648,000 after buying an additional 358,360 shares in the last quarter. Point72 Asset Management L.P. grew its stake in Glaukos by 13.8% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,321,902 shares of the medical instruments supplier’s stock valued at $60,041,000 after buying an additional 160,347 shares in the last quarter. Finally, Lord Abbett & CO. LLC purchased a new position in Glaukos in the 3rd quarter valued at approximately $61,056,000. Institutional investors own 93.09% of the company’s stock.

Glaukos Company Profile

(Get Rating)

Glaukos Corporation, an ophthalmic medical technology and pharmaceutical company, focuses on the development of novel therapies for the treatment of glaucoma, corneal disorders, and retinal diseases. It offers iStent, iStent inject, iStent inject W micro-bypass stents that enhance aqueous humor outflow inserted in cataract surgery to treat mild-to-moderate open-angle glaucoma.

Further Reading

Analyst Recommendations for Glaukos (NYSE:GKOS)

Receive News & Ratings for Glaukos Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Glaukos and related companies with MarketBeat.com's FREE daily email newsletter.