Glaukos (NYSE:GKOS) Sets New 52-Week Low – Here’s Why

Glaukos Co. (NYSE:GKOS)’s stock price hit a new 52-week low on Thursday . The company traded as low as $88.75 and last traded at $90.15, with a volume of 473789 shares traded. The stock had previously closed at $100.04.

Wall Street Analyst Weigh In

Several analysts recently issued reports on GKOS shares. Needham & Company LLC lifted their price target on shares of Glaukos from $149.00 to $176.00 and gave the company a “buy” rating in a research report on Friday, February 21st. UBS Group assumed coverage on shares of Glaukos in a research report on Friday, December 6th. They set a “buy” rating and a $182.00 target price for the company. Truist Financial lifted their price target on Glaukos from $152.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Stifel Nicolaus increased their price objective on Glaukos from $153.00 to $175.00 and gave the stock a “buy” rating in a research note on Tuesday, December 31st. Finally, Citigroup raised Glaukos from a “neutral” rating to a “buy” rating and lifted their target price for the company from $132.00 to $162.00 in a research report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, one has given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Glaukos currently has an average rating of “Moderate Buy” and an average target price of $163.25.

Glaukos Trading Down 13.2 %

The company has a debt-to-equity ratio of 0.19, a current ratio of 5.54 and a quick ratio of 4.71. The firm has a fifty day simple moving average of $126.91 and a two-hundred day simple moving average of $135.14. The firm has a market capitalization of $4.91 billion, a P/E ratio of -30.25 and a beta of 0.99.

Glaukos (NYSE:GKOS) last announced its quarterly earnings data on Thursday, February 20th. The medical instruments supplier reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.02). The firm had revenue of $105.50 million during the quarter, compared to the consensus estimate of $100.72 million. Glaukos had a negative net margin of 39.04% and a negative return on equity of 16.53%. On average, equities research analysts anticipate that Glaukos Co. will post -1.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Glaukos

In other news, insider Tomas Navratil sold 3,416 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $147.14, for a total value of $502,630.24. Following the sale, the insider now directly owns 72,437 shares of the company’s stock, valued at approximately $10,658,380.18. This represents a 4.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Alex R. Thurman sold 1,520 shares of the firm’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $106.84, for a total transaction of $162,396.80. Following the completion of the transaction, the chief financial officer now owns 53,431 shares of the company’s stock, valued at $5,708,568.04. This trade represents a 2.77 % 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

Large investors have recently added to or reduced their stakes in the business. Versant Capital Management Inc raised its holdings in shares of Glaukos by 583.9% in 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. IFP Advisors Inc purchased a new stake in Glaukos in the fourth quarter valued at approximately $43,000. Asset Planning Inc bought a new stake in Glaukos during the fourth quarter valued at approximately $90,000. CoreCap Advisors LLC grew its stake in Glaukos by 36.4% in the 4th quarter. CoreCap Advisors LLC now owns 750 shares of the medical instruments supplier’s stock worth $112,000 after buying an additional 200 shares in the last quarter. Finally, Picton Mahoney Asset Management bought a new position in shares of Glaukos in the 4th quarter worth $125,000. Institutional investors own 99.04% of the company’s stock.

Glaukos Company Profile

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.