Glaukos (NYSE:GKOS) Upgraded by StockNews.com to “Hold”

Glaukos (NYSE:GKOS) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Monday.

Several other analysts have also recently issued reports on GKOS. Piper Sandler set a $140.00 target price on shares of Glaukos in a research report on Thursday. Needham & Company LLC upped their target price on shares of Glaukos from $131.00 to $137.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Wells Fargo & Company upped their target price on shares of Glaukos from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Morgan Stanley upped their target price on shares of Glaukos from $100.00 to $120.00 and gave the company an “equal weight” rating in a research report on Monday, July 15th. Finally, Truist Financial upped their target price on shares of Glaukos from $145.00 to $152.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $130.45.

Glaukos Price Performance

GKOS stock traded down $0.98 during mid-day trading on Monday, hitting $132.39. The company had a trading volume of 528,763 shares, compared to its average volume of 573,471. The company has a market capitalization of $6.67 billion, a price-to-earnings ratio of -45.97 and a beta of 1.02. Glaukos has a 12-month low of $59.22 and a 12-month high of $136.60. The company has a quick ratio of 4.67, a current ratio of 5.48 and a debt-to-equity ratio of 0.19. The company has a 50-day moving average price of $128.53 and a 200 day moving average price of $117.54.

Glaukos (NYSE:GKOS) last announced its quarterly earnings results on Wednesday, July 31st. The medical instruments supplier reported ($0.52) EPS for the quarter, hitting the consensus estimate of ($0.52). The business had revenue of $95.70 million for the quarter, compared to analysts’ expectations of $88.86 million. Glaukos had a negative net margin of 47.39% and a negative return on equity of 22.51%. The business’s quarterly revenue was up 19.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.55) EPS. On average, research analysts anticipate that Glaukos will post -2.18 earnings per share for the current year.

Insider Activity at Glaukos

In related news, Director Aimee S. Weisner sold 25,000 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $120.00, for a total transaction of $3,000,000.00. Following the transaction, the director now directly owns 30,119 shares in the company, valued at approximately $3,614,280. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Aimee S. Weisner sold 25,000 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $120.00, for a total transaction of $3,000,000.00. Following the transaction, the director now directly owns 30,119 shares in the company, valued at approximately $3,614,280. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Marc Stapley sold 6,250 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $125.93, for a total transaction of $787,062.50. Following the completion of the transaction, the director now owns 34,076 shares in the company, valued at $4,291,190.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 39,250 shares of company stock worth $4,825,873. Insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Glaukos

A number of hedge funds have recently added to or reduced their stakes in the stock. Trust Point Inc. grew its stake in Glaukos by 3.5% in the 3rd quarter. Trust Point Inc. now owns 11,343 shares of the medical instruments supplier’s stock worth $1,478,000 after acquiring an additional 386 shares in the last quarter. Creative Planning lifted its position in shares of Glaukos by 64.1% in the 3rd quarter. Creative Planning now owns 12,643 shares of the medical instruments supplier’s stock worth $1,647,000 after purchasing an additional 4,937 shares during the period. Procyon Advisors LLC purchased a new stake in shares of Glaukos in the 3rd quarter worth approximately $210,000. Exchange Traded Concepts LLC purchased a new stake in shares of Glaukos in the 3rd quarter worth approximately $755,000. Finally, Inspire Investing LLC lifted its position in shares of Glaukos by 6.9% in the 3rd quarter. Inspire Investing LLC now owns 3,193 shares of the medical instruments supplier’s stock worth $416,000 after purchasing an additional 206 shares during the period. 99.04% of the stock is currently owned by institutional investors.

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.