Glaukos (NYSE:GKOS) Downgraded by StockNews.com to “Sell”

StockNews.com downgraded shares of Glaukos (NYSE:GKOS) from a hold rating to a sell rating in a research note released on Thursday.

A number of other equities analysts have also weighed in on GKOS. TheStreet raised Glaukos from a d+ rating to a c- rating in a research report on Thursday, June 1st. Stifel Nicolaus upped their price target on shares of Glaukos from $65.00 to $77.00 in a research report on Monday, June 26th. Wells Fargo & Company upped their price target on shares of Glaukos from $63.00 to $75.00 and gave the company an equal weight rating in a research report on Friday, July 14th. Piper Sandler upped their price target on shares of Glaukos from $80.00 to $85.00 and gave the company an overweight rating in a research report on Monday, July 31st. Finally, Needham & Company LLC reaffirmed a buy rating and set a $89.00 price target on shares of Glaukos in a research report on Thursday, August 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Glaukos has a consensus rating of Hold and a consensus target price of $77.56.

Glaukos Price Performance

Shares of NYSE:GKOS opened at $74.38 on Thursday. Glaukos has a fifty-two week low of $40.45 and a fifty-two week high of $80.28. The business has a 50-day simple moving average of $74.20 and a two-hundred day simple moving average of $61.60. The company has a debt-to-equity ratio of 0.72, a quick ratio of 5.66 and a current ratio of 6.28. The firm has a market cap of $3.62 billion, a price-to-earnings ratio of -28.17 and a beta of 1.22.

Glaukos (NYSE:GKOS) last issued its earnings results on Wednesday, August 2nd. The medical instruments supplier reported ($0.55) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.02. Glaukos had a negative return on equity of 19.53% and a negative net margin of 42.61%. The business had revenue of $80.40 million during the quarter, compared to analyst estimates of $74.73 million. During the same quarter in the previous year, the firm earned ($0.83) EPS. Glaukos’s revenue was up 10.6% on a year-over-year basis. On average, analysts expect that Glaukos will post -2.25 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Gilbert H. Kliman sold 10,000 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $74.56, for a total value of $745,600.00. Following the completion of the sale, the director now directly owns 29,725 shares of the company’s stock, valued at approximately $2,216,296. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Glaukos news, Director Gilbert H. Kliman sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $74.56, for a total value of $745,600.00. Following the completion of the transaction, the director now directly owns 29,725 shares in the company, valued at approximately $2,216,296. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas William Burns sold 26,810 shares of the company’s stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $70.19, for a total value of $1,881,793.90. Following the completion of the transaction, the chief executive officer now owns 673,963 shares of the company’s stock, valued at $47,305,462.97. The disclosure for this sale can be found here. In the last ninety days, insiders sold 156,809 shares of company stock valued at $11,626,132. 7.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC boosted its stake in Glaukos by 257.8% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,238 shares of the medical instruments supplier’s stock worth $62,000 after purchasing an additional 892 shares during the period. Silverarc Capital Management LLC bought a new position in shares of Glaukos during the 2nd quarter valued at approximately $71,000. Captrust Financial Advisors boosted its position in shares of Glaukos by 17.1% during the 2nd quarter. Captrust Financial Advisors now owns 1,738 shares of the medical instruments supplier’s stock valued at $79,000 after acquiring an additional 254 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Glaukos by 28.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,557 shares of the medical instruments supplier’s stock valued at $111,000 after acquiring an additional 345 shares during the last quarter. Finally, State of Wyoming boosted its position in shares of Glaukos by 28.0% during the 2nd quarter. State of Wyoming now owns 1,565 shares of the medical instruments supplier’s stock valued at $111,000 after acquiring an additional 342 shares during the last quarter. 99.04% of the stock is currently owned by institutional investors.

Glaukos Company Profile

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.