Glaukos (NYSE:GKOS) Shares Down 9.8% – What’s Next?

Glaukos Co. (NYSE:GKOS)’s stock price fell 9.8% during mid-day trading on Monday . The company traded as low as $94.60 and last traded at $94.00. 661,123 shares changed hands during mid-day trading, a decline of 16% from the average session volume of 791,675 shares. The stock had previously closed at $104.19.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GKOS. BTIG Research upped their price objective on shares of Glaukos from $140.00 to $149.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Truist Financial upped their price target on shares of Glaukos from $152.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Citigroup raised shares of Glaukos from a “neutral” rating to a “buy” rating and increased their price target for the stock from $132.00 to $162.00 in a research note on Wednesday, December 11th. Needham & Company LLC boosted their price objective on shares of Glaukos from $149.00 to $176.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Finally, Stephens raised Glaukos to a “strong-buy” rating in a research report on Monday, December 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Glaukos presently has a consensus rating of “Moderate Buy” and a consensus price target of $163.25.

Glaukos Trading Down 7.6 %

The firm has a fifty day moving average of $145.94 and a 200-day moving average of $138.90. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.71 and a current ratio of 5.54. The stock has a market capitalization of $5.45 billion, a price-to-earnings ratio of -33.56 and a beta of 0.99.

Glaukos (NYSE:GKOS) last posted its earnings results 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 company had revenue of $105.50 million during the quarter, compared to analyst estimates of $100.72 million. Glaukos had a negative net margin of 39.04% and a negative return on equity of 16.53%. As a group, equities analysts predict that Glaukos Co. will post -1.08 earnings per share for the current fiscal year.

Insider Transactions at Glaukos

In related news, insider Tomas Navratil sold 3,416 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $147.14, for a total value of $502,630.24. Following the completion of the sale, the insider now directly owns 72,437 shares of the company’s stock, valued at $10,658,380.18. The trade was a 4.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gilbert H. Kliman sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $150.28, for a total value of $1,502,800.00. Following the completion of the sale, the director now owns 32,336 shares of the company’s stock, valued at $4,859,454.08. This trade represents a 23.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,744 shares of company stock valued at $2,792,151. Corporate insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Amalgamated Bank lifted its holdings in Glaukos by 4.5% in the third quarter. Amalgamated Bank now owns 15,926 shares of the medical instruments supplier’s stock worth $2,075,000 after acquiring an additional 679 shares during the last quarter. Crossmark Global Holdings Inc. lifted its holdings in shares of Glaukos by 15.8% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 4,051 shares of the medical instruments supplier’s stock worth $527,000 after purchasing an additional 554 shares during the last quarter. Versor Investments LP acquired a new position in Glaukos during the 3rd quarter valued at approximately $457,000. WCM Investment Management LLC boosted its position in Glaukos by 45.7% during the 3rd quarter. WCM Investment Management LLC now owns 99,155 shares of the medical instruments supplier’s stock valued at $12,721,000 after purchasing an additional 31,084 shares during the period. Finally, Victory Capital Management Inc. grew its stake in Glaukos by 421.8% during the 3rd quarter. Victory Capital Management Inc. now owns 79,211 shares of the medical instruments supplier’s stock worth $10,320,000 after buying an additional 64,031 shares during the last quarter. 99.04% of the stock is owned by institutional investors and hedge funds.

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.