Glaukos (NYSE:GKOS) Downgraded by Wells Fargo & Company to "Equal Weight"

Glaukos (NYSE:GKOS - Get Free Report) was downgraded by Wells Fargo & Company from an "overweight" rating to an "equal weight" rating in a research note issued to investors on Thursday,Finviz reports. They currently have a $86.00 price objective on the medical instruments supplier's stock. Wells Fargo & Company's target price points to a potential downside of 8.92% from the company's previous close.

Several other research firms have also recently issued reports on GKOS. Mizuho lowered their target price on shares of Glaukos from $200.00 to $175.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 16th. Needham & Company LLC lifted their price objective on Glaukos from $149.00 to $176.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Truist Financial reduced their target price on Glaukos from $185.00 to $140.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Finally, Piper Sandler lowered their price target on Glaukos from $180.00 to $165.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $150.00.

Glaukos Stock Performance

Shares of Glaukos stock opened at $94.42 on Thursday. The business's fifty day simple moving average is $99.10 and its 200 day simple moving average is $129.41. The company has a current ratio of 5.54, a quick ratio of 4.71 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $5.39 billion, a P/E ratio of -32.90 and a beta of 0.88. Glaukos has a 12 month low of $77.91 and a 12 month high of $163.71.

Glaukos (NYSE:GKOS - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The medical instruments supplier reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.11. The business had revenue of $106.66 million during the quarter, compared to analyst estimates of $102.78 million. Glaukos had a negative return on equity of 16.53% and a negative net margin of 39.04%. Glaukos's revenue was up 24.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.70) earnings per share. As a group, analysts anticipate that Glaukos will post -1.08 EPS for the current year.

Insider Activity

In other Glaukos news, insider Tomas Navratil sold 3,416 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now owns 72,437 shares in the company, valued at approximately $10,658,380.18. This trade represents a 4.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Alex R. Thurman sold 1,520 shares of the business's stock in a transaction that occurred 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 in the company, valued at $5,708,568.04. This trade represents a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.40% of the company's stock.

Institutional Investors Weigh In On Glaukos

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

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