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

Glaukos Co. (NYSE:GKOS) shares traded down 9.8% during mid-day trading on Monday . The stock traded as low as $94.60 and last traded at $94.00. 661,123 shares were traded 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

Several research analysts have weighed in on the company. Stephens upgraded Glaukos to a “strong-buy” rating in a research report on Monday, December 2nd. Needham & Company LLC raised their price target on shares of Glaukos from $149.00 to $176.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Citigroup upgraded shares of Glaukos from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $132.00 to $162.00 in a research note on Wednesday, December 11th. UBS Group began coverage on shares of Glaukos in a research report on Friday, December 6th. They set a “buy” rating and a $182.00 target price on the stock. Finally, Morgan Stanley downgraded shares of Glaukos from an “equal weight” rating to an “underweight” rating and set a $120.00 price target for the company. 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 issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Glaukos has an average rating of “Moderate Buy” and an average target price of $163.25.

Glaukos Trading Up 5.1 %

The firm’s 50-day simple moving average is $143.84 and its 200 day simple moving average is $138.41. The firm has a market capitalization of $5.75 billion, a price-to-earnings ratio of -35.38 and a beta of 0.99. 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 quarterly earnings results on Thursday, February 20th. The medical instruments supplier reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.02). The business had revenue of $105.50 million for the quarter, compared to analyst estimates of $100.72 million. Glaukos had a negative return on equity of 16.53% and a negative net margin of 39.04%. Equities analysts expect that Glaukos Co. will post -1.08 earnings per share for the current year.

Insider Activity at Glaukos

In related news, insider Tomas Navratil sold 3,416 shares of Glaukos stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $147.14, for a total transaction of $502,630.24. Following the sale, the insider now directly owns 72,437 shares in the company, valued at $10,658,380.18. This trade represents a 4.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Joseph E. Gilliam sold 3,328 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $149.85, for a total transaction of $498,700.80. Following the completion of the transaction, the chief operating officer now owns 102,169 shares of the company’s stock, valued at approximately $15,310,024.65. This trade represents a 3.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,744 shares of company stock valued at $2,504,131 in the last quarter. Insiders own 6.40% of the company’s stock.

Institutional Trading of Glaukos

Several institutional investors have recently modified their holdings of GKOS. WCM Investment Management LLC lifted its holdings 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 worth $12,721,000 after buying an additional 31,084 shares during the period. BNP Paribas Financial Markets raised its position in shares of Glaukos by 186.9% during the third quarter. BNP Paribas Financial Markets now owns 13,726 shares of the medical instruments supplier’s stock worth $1,788,000 after acquiring an additional 8,942 shares during the last quarter. First Turn Management LLC acquired a new position in shares of Glaukos in the third quarter worth approximately $12,520,000. Harbor Capital Advisors Inc. bought a new stake in Glaukos in the fourth quarter valued at approximately $3,679,000. Finally, Victory Capital Management Inc. increased its position 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 valued at $10,320,000 after purchasing an additional 64,031 shares during the period. 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.