Glaukos (NYSE:GKOS) Rating Lowered to Underweight at Morgan Stanley

Glaukos (NYSE:GKOS) was downgraded by equities researchers at Morgan Stanley from an “equal weight” rating to an “underweight” rating in a research note issued to investors on Monday, MarketBeat.com reports. They presently have a $120.00 target price on the medical instruments supplier’s stock. Morgan Stanley’s target price indicates a potential downside of 16.46% from the company’s current price.

GKOS has been the topic of several other reports. Truist Financial lifted their price target on shares of Glaukos from $145.00 to $152.00 and gave the company a “buy” rating in a research note on Monday, October 14th. JPMorgan Chase & Co. lifted their target price on Glaukos from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. StockNews.com raised Glaukos from a “sell” rating to a “hold” rating in a research report on Monday, October 21st. Piper Sandler set a $140.00 price target on Glaukos in a research report on Thursday, October 17th. Finally, Wells Fargo & Company upped their price objective on Glaukos from $135.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Glaukos has a consensus rating of “Moderate Buy” and a consensus target price of $135.45.

Glaukos Stock Up 0.7 %

NYSE:GKOS opened at $143.65 on Monday. The stock has a 50-day simple moving average of $134.13 and a 200 day simple moving average of $124.96. Glaukos has a 52-week low of $59.58 and a 52-week high of $146.86. The company has a market cap of $7.92 billion, a PE ratio of -47.57 and a beta of 1.02. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.71 and a current ratio of 5.54.

Glaukos (NYSE:GKOS) last released its quarterly earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.20. Glaukos had a negative return on equity of 18.99% and a negative net margin of 42.43%. The firm had revenue of $96.70 million during the quarter, compared to the consensus estimate of $91.50 million. During the same quarter in the prior year, the firm posted ($0.50) EPS. The business’s revenue was up 23.9% on a year-over-year basis. On average, sell-side analysts expect that Glaukos will post -1.91 EPS for the current fiscal year.

Insider Buying and Selling at Glaukos

In related news, Director Gilbert H. Kliman sold 3,000 shares of Glaukos stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $130.67, for a total transaction of $392,010.00. Following the completion of the sale, the director now owns 32,336 shares of the company’s stock, valued at approximately $4,225,345.12. The trade was a 8.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Joseph E. Gilliam sold 2,275 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $138.97, for a total transaction of $316,156.75. Following the completion of the transaction, the chief operating officer now directly owns 102,169 shares in the company, valued at approximately $14,198,425.93. This represents a 2.18 % 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 Trading of Glaukos

Several hedge funds have recently added to or reduced their stakes in the company. Values First Advisors Inc. acquired a new position in Glaukos in the 3rd quarter valued at $25,000. Harvest Fund Management Co. Ltd grew its stake in shares of Glaukos by 2,263.2% in the third quarter. Harvest Fund Management Co. Ltd now owns 898 shares of the medical instruments supplier’s stock valued at $117,000 after acquiring an additional 860 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Glaukos by 68.8% in the second quarter. GAMMA Investing LLC now owns 1,192 shares of the medical instruments supplier’s stock valued at $141,000 after acquiring an additional 486 shares in the last quarter. Fifth Third Wealth Advisors LLC bought a new position in Glaukos during the second quarter worth about $187,000. Finally, KBC Group NV raised its stake in Glaukos by 16.2% in the 3rd quarter. KBC Group NV now owns 1,445 shares of the medical instruments supplier’s stock worth $188,000 after purchasing an additional 201 shares in the last quarter. 99.04% of the stock is owned by institutional investors and hedge funds.

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.