Glaukos (NYSE:GKOS) Sets New 1-Year Low – Here’s What Happened

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

Wall Street Analyst Weigh In

Several brokerages have recently commented on GKOS. Mizuho upgraded Glaukos from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $140.00 to $200.00 in a research report on Wednesday, February 19th. UBS Group started coverage on shares of Glaukos in a research note on Friday, December 6th. They set a “buy” rating and a $182.00 price target on the stock. Wells Fargo & Company upped their price objective on shares of Glaukos from $153.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Truist Financial lifted their target price 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. Finally, Stifel Nicolaus raised their price objective on Glaukos from $153.00 to $175.00 and gave the company a “buy” rating in a research note on Tuesday, December 31st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $163.25.

Glaukos Price Performance

The company has a market cap of $4.91 billion, a PE ratio of -30.25 and a beta of 0.99. The business has a 50 day moving average of $126.91 and a 200 day moving average of $135.14. The company has a debt-to-equity ratio of 0.19, a current ratio of 5.54 and a quick ratio of 4.71.

Glaukos (NYSE:GKOS) last posted its earnings results on Thursday, February 20th. The medical instruments supplier reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.02). Glaukos had a negative return on equity of 16.53% and a negative net margin of 39.04%. The company had revenue of $105.50 million during the quarter, compared to analysts’ expectations of $100.72 million. As a group, research analysts predict that Glaukos Co. will post -1.08 EPS for the current year.

Insiders Place Their Bets

In related news, insider Tomas Navratil sold 3,416 shares of the company’s stock in a transaction on Friday, February 14th. The stock was 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 $10,658,380.18. This represents a 4.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Alex R. Thurman sold 1,520 shares of the firm’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $106.84, for a total value of $162,396.80. Following the transaction, the chief financial officer now directly owns 53,431 shares of the company’s stock, valued at $5,708,568.04. This represents a 2.77 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Glaukos

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. State of Wyoming lifted its holdings in shares of Glaukos by 2.3% during the fourth quarter. State of Wyoming now owns 3,245 shares of the medical instruments supplier’s stock valued at $487,000 after purchasing an additional 72 shares during the last quarter. Quadrant Capital Group LLC raised its stake in Glaukos by 3.3% during the fourth quarter. Quadrant Capital Group LLC now owns 2,300 shares of the medical instruments supplier’s stock valued at $345,000 after buying an additional 73 shares during the last quarter. Mutual of America Capital Management LLC boosted its holdings in Glaukos by 1.1% in the fourth quarter. Mutual of America Capital Management LLC now owns 8,353 shares of the medical instruments supplier’s stock worth $1,252,000 after acquiring an additional 89 shares in the last quarter. HighTower Advisors LLC grew its stake in shares of Glaukos by 2.8% in the fourth quarter. HighTower Advisors LLC now owns 3,298 shares of the medical instruments supplier’s stock worth $495,000 after acquiring an additional 91 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its holdings in shares of Glaukos by 0.4% during the fourth quarter. Louisiana State Employees Retirement System now owns 26,700 shares of the medical instruments supplier’s stock valued at $4,003,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 99.04% of the company’s stock.

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.