Glaukos (NYSE:GKOS) Lowered to Equal Weight Rating by Wells Fargo & Company

Glaukos (NYSE:GKOS - Get Free Report) was downgraded by equities researchers at Wells Fargo & Company from an "overweight" rating to an "equal weight" rating in a report released on Thursday, MarketBeat.com reports. They presently have a $86.00 price target on the medical instruments supplier's stock, down from their prior price target of $160.00. Wells Fargo & Company's price target would suggest a potential upside of 0.14% from the company's previous close.

Several other research firms also recently issued reports on GKOS. Truist Financial dropped their target price on Glaukos from $185.00 to $140.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Piper Sandler cut their price target on shares of Glaukos from $180.00 to $165.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. Mizuho reduced their price target on Glaukos from $200.00 to $175.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 16th. Finally, Needham & Company LLC raised their target price on shares of Glaukos from $149.00 to $176.00 and gave the stock a "buy" rating in a report on Friday, February 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $133.92.

Glaukos Stock Performance

Shares of NYSE:GKOS traded down $0.98 during midday trading on Thursday, reaching $85.88. The company had a trading volume of 310,439 shares, compared to its average volume of 947,976. The stock has a market cap of $4.90 billion, a P/E ratio of -29.95 and a beta of 0.88. The company has a current ratio of 5.54, a quick ratio of 4.71 and a debt-to-equity ratio of 0.19. Glaukos has a 52-week low of $77.10 and a 52-week high of $163.71. The company's 50 day moving average price is $96.93 and its 200 day moving average price is $128.49.

Glaukos (NYSE:GKOS - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The medical instruments supplier reported ($0.22) EPS for the quarter, topping analysts' consensus estimates of ($0.33) by $0.11. Glaukos had a negative net margin of 39.04% and a negative return on equity of 16.53%. The company had revenue of $106.66 million for the quarter, compared to analysts' expectations of $102.78 million. During the same quarter in the previous year, the firm posted ($0.70) EPS. Glaukos's revenue was up 24.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Glaukos will post -1.08 EPS for the current fiscal year.

Insider Activity at Glaukos

In related news, CFO Alex R. Thurman sold 1,520 shares of the business's stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $106.84, for a total transaction of $162,396.80. Following the completion of the transaction, the chief financial officer now directly owns 53,431 shares in the company, valued at approximately $5,708,568.04. The trade was a 2.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Tomas Navratil sold 3,416 shares of Glaukos stock in a transaction 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 completion of the sale, the insider now owns 72,437 shares in the company, valued at approximately $10,658,380.18. This represents a 4.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Glaukos

Several hedge funds and other institutional investors have recently modified their holdings of the business. Barclays PLC grew its holdings in shares of Glaukos by 394.4% in the third quarter. Barclays PLC now owns 89,699 shares of the medical instruments supplier's stock worth $11,686,000 after purchasing an additional 71,556 shares during the last quarter. Tidal Investments LLC increased its holdings in Glaukos by 83.1% during the 3rd quarter. Tidal Investments LLC now owns 14,908 shares of the medical instruments supplier's stock worth $1,942,000 after purchasing an additional 6,767 shares during the period. Franklin Resources Inc. increased its stake in shares of Glaukos by 80.1% during the third quarter. Franklin Resources Inc. now owns 15,621 shares of the medical instruments supplier's stock valued at $2,031,000 after buying an additional 6,948 shares during the period. GAMMA Investing LLC lifted its position in shares of Glaukos by 28.3% in the 4th quarter. GAMMA Investing LLC now owns 2,213 shares of the medical instruments supplier's stock worth $332,000 after purchasing an additional 488 shares during the period. Finally, Harbor Capital Advisors Inc. bought a new position in shares of Glaukos during the fourth quarter valued at approximately $3,679,000. 99.04% of the stock is currently owned by hedge funds and other institutional investors.

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.