Glaukos (NYSE:GKOS) Downgraded by Wall Street Zen to Hold

Key Points

• Wall Street Zen downgraded Glaukos from “buy” to “hold,” though broader analyst sentiment remains positive with 12 Buy ratings, 1 Hold, and 1 Sell. The stock still carries a consensus rating of Moderate Buy and an average price target of $149.17.
• Glaukos reported better-than-expected quarterly results, posting a smaller-than-expected loss of $0.18 per share on revenue of $150.57 million, which beat estimates and rose 41.2% year over year. Analysts now expect the company to post a loss of $0.57 per share for the full fiscal year.
• Insiders have been selling shares recently, including Director Leana Wen and CFO Alex R. Thurman, with 45,305 shares sold over the last 90 days worth about $6.26 million. Despite the selling, institutional investors still own 99.04% of the company.

Glaukos (NYSE:GKOS - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Sunday.

Several other brokerages have also recently weighed in on GKOS. BTIG Research reiterated a "buy" rating and issued a $162.00 price target on shares of Glaukos in a research report on Wednesday, June 10th. Citigroup increased their price objective on Glaukos from $140.00 to $162.00 and gave the stock a "buy" rating in a report on Thursday, June 11th. Needham & Company LLC raised their target price on Glaukos from $136.00 to $150.00 and gave the stock a "buy" rating in a research note on Wednesday. William Blair reaffirmed an "outperform" rating on shares of Glaukos in a report on Tuesday, May 26th. Finally, JPMorgan Chase & Co. lifted their target price on Glaukos from $120.00 to $140.00 and gave the company an "overweight" rating in a report on Thursday, April 30th. Twelve equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $149.17.

Glaukos Stock Up 0.1%

Shares of NYSE GKOS opened at $130.88 on Friday. The stock's fifty day moving average is $125.43 and its 200 day moving average is $117.07. The stock has a market capitalization of $7.69 billion, a P/E ratio of -39.90 and a beta of 0.82. Glaukos has a 52 week low of $73.16 and a 52 week high of $148.11. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.73 and a current ratio of 5.43.

Glaukos (NYSE:GKOS - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The medical instruments supplier reported ($0.18) earnings per share for the quarter, beating analysts' consensus estimates of ($0.30) by $0.12. The business had revenue of $150.57 million during the quarter, compared to analyst estimates of $137.00 million. Glaukos had a negative net margin of 34.34% and a negative return on equity of 6.92%. Glaukos's revenue was up 41.2% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.22) EPS. Sell-side analysts forecast that Glaukos will post -0.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Leana Wen sold 1,700 shares of the firm's stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $143.35, for a total value of $243,695.00. Following the sale, the director directly owned 19,739 shares of the company's stock, valued at $2,829,585.65. This trade represents a 7.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Alex R. Thurman sold 10,000 shares of Glaukos stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $140.00, for a total transaction of $1,400,000.00. Following the sale, the chief financial officer owned 43,681 shares of the company's stock, valued at approximately $6,115,340. The trade was a 18.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 45,305 shares of company stock worth $6,259,395. Insiders own 5.90% of the company's stock.

Institutional Trading of Glaukos

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wealth Alliance LLC increased its holdings in Glaukos by 4.5% in the 1st quarter. Wealth Alliance LLC now owns 2,297 shares of the medical instruments supplier's stock valued at $247,000 after acquiring an additional 98 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Glaukos by 9.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,383 shares of the medical instruments supplier's stock valued at $158,000 after purchasing an additional 122 shares during the last quarter. Larson Financial Group LLC grew its position in shares of Glaukos by 62.0% during the fourth quarter. Larson Financial Group LLC now owns 345 shares of the medical instruments supplier's stock valued at $39,000 after purchasing an additional 132 shares in the last quarter. CWM LLC grew its position in shares of Glaukos by 25.2% during the fourth quarter. CWM LLC now owns 710 shares of the medical instruments supplier's stock valued at $80,000 after purchasing an additional 143 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its holdings in shares of Glaukos by 1.7% in the fourth quarter. Commonwealth Equity Services LLC now owns 8,383 shares of the medical instruments supplier's stock worth $947,000 after purchasing an additional 144 shares during the last quarter. Hedge funds and other institutional investors own 99.04% of the company's stock.

About Glaukos

Glaukos Corporation is a medical technology company specializing in the development, manufacturing and commercialization of innovative therapies for patients with glaucoma and other chronic eye diseases. The company's core offerings focus on micro-invasive glaucoma surgery (MIGS), designed to reduce intraocular pressure and manage glaucoma more safely and effectively than traditional surgical approaches. Glaukos's flagship products include the iStent, iStent inject and iStent infinite trabecular micro-bypass stents, which are implanted during cataract surgery to improve aqueous outflow and help control eye pressure.

Beyond its MIGS portfolio, Glaukos has expanded into sustained drug-delivery solutions.

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