Citigroup Issues Pessimistic Forecast for Glaukos (NYSE:GKOS) Stock Price

Key Points

• Citigroup has reduced its target price for Glaukos (NYSE:GKOS) from $140.00 to $110.00, while still maintaining a "buy" rating, indicating a potential upside from the recent stock price.
• Glaukos shares have declined 3.0% in mid-day trading, currently priced at $84.04, with a reported 12-month high of $163.71.
• The company reported a quarterly earnings loss of ($0.24) per share, which was better than analysts' expectations, and a year-over-year revenue increase of 29.7%.

Glaukos (NYSE:GKOS - Get Free Report) had its target price reduced by equities research analysts at Citigroup from $140.00 to $110.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the medical instruments supplier's stock. Citigroup's target price would suggest a potential upside of 30.90% from the company's previous close.

Several other research analysts have also recently commented on GKOS. William Blair upgraded Glaukos to a "strong-buy" rating in a research note on Thursday, July 31st. Zacks Research downgraded shares of Glaukos from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 15th. Truist Financial cut their price target on shares of Glaukos from $126.00 to $120.00 and set a "buy" rating on the stock in a report on Monday, September 22nd. Wells Fargo & Company raised their price objective on shares of Glaukos from $86.00 to $92.00 and gave the stock an "equal weight" rating in a report on Thursday, July 31st. Finally, BTIG Research reaffirmed a "buy" rating and set a $118.00 price target on shares of Glaukos in a research report on Wednesday, September 10th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $118.00.

Glaukos Stock Down 3.0%

Shares of GKOS traded down $2.59 during mid-day trading on Tuesday, reaching $84.04. 185,571 shares of the stock traded hands, compared to its average volume of 923,736. The stock has a fifty day simple moving average of $88.33 and a 200 day simple moving average of $93.17. Glaukos has a 12-month low of $77.10 and a 12-month high of $163.71. The company has a quick ratio of 4.69, a current ratio of 5.51 and a debt-to-equity ratio of 0.09. The firm has a market cap of $4.82 billion, a price-to-earnings ratio of -51.19 and a beta of 0.76.

Glaukos (NYSE:GKOS - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The medical instruments supplier reported ($0.24) earnings per share for the quarter, beating analysts' consensus estimates of ($0.26) by $0.02. Glaukos had a negative net margin of 21.43% and a negative return on equity of 8.59%. The business had revenue of $124.12 million during the quarter, compared to analyst estimates of $115.49 million. During the same period last year, the business earned ($0.52) EPS. The business's revenue was up 29.7% on a year-over-year basis. Glaukos has set its FY 2025 guidance at EPS. Sell-side analysts expect that Glaukos will post -1.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Glaukos

A number of hedge funds and other institutional investors have recently bought and sold shares of GKOS. Bessemer Group Inc. grew its holdings in shares of Glaukos by 133.9% during the first quarter. Bessemer Group Inc. now owns 276 shares of the medical instruments supplier's stock valued at $27,000 after purchasing an additional 158 shares during the last quarter. First Horizon Advisors Inc. grew its stake in Glaukos by 72.9% during the 1st quarter. First Horizon Advisors Inc. now owns 377 shares of the medical instruments supplier's stock worth $37,000 after buying an additional 159 shares during the last quarter. Park Place Capital Corp increased its position in Glaukos by 68.4% in the second quarter. Park Place Capital Corp now owns 399 shares of the medical instruments supplier's stock worth $41,000 after buying an additional 162 shares during the period. AlphaQuest LLC lifted its stake in Glaukos by 5,754.5% in the second quarter. AlphaQuest LLC now owns 644 shares of the medical instruments supplier's stock valued at $67,000 after buying an additional 633 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of Glaukos by 16.2% during the second quarter. Smartleaf Asset Management LLC now owns 973 shares of the medical instruments supplier's stock valued at $99,000 after acquiring an additional 136 shares during the period. 99.04% of the stock is currently 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.

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