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

Key Points

• Glaukos was downgraded by Wall Street Zen from buy to hold, even though most analysts remain positive on the stock.
• Other firms largely maintained bullish views, with several raising price targets; MarketBeat says Glaukos has a Moderate Buy consensus and an average price target of $146.17.
• The company recently beat quarterly expectations, reporting $(0.18) EPS versus an expected $(0.30) and revenue of $150.57 million, up 41.2% year over year.

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

Several other analysts have also weighed in on the company. William Blair reissued an "outperform" rating on shares of Glaukos in a report on Tuesday. Stifel Nicolaus set a $170.00 price objective on Glaukos in a report on Thursday, April 30th. JPMorgan Chase & Co. lifted their price objective on Glaukos from $120.00 to $140.00 and gave the stock an "overweight" rating in a report on Thursday, April 30th. Wells Fargo & Company lifted their price objective on Glaukos from $135.00 to $138.00 and gave the stock an "overweight" rating in a report on Thursday, April 30th. Finally, Citigroup lifted their price objective on Glaukos from $135.00 to $140.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Twelve investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $146.17.

Glaukos Stock Performance

GKOS opened at $103.08 on Friday. The firm has a market capitalization of $6.05 billion, a P/E ratio of -31.43 and a beta of 0.94. The stock's 50 day moving average price is $121.31 and its two-hundred day moving average price is $114.27. The company has a quick ratio of 4.73, a current ratio of 5.43 and a debt-to-equity ratio of 0.10. Glaukos has a 12-month low of $73.16 and a 12-month high of $148.11.

Glaukos (NYSE:GKOS - Get Free Report) last released its earnings results on Wednesday, April 29th. The medical instruments supplier reported ($0.18) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.30) by $0.12. The firm had revenue of $150.57 million for the quarter, compared to analyst estimates of $137.00 million. Glaukos had a negative return on equity of 6.92% and a negative net margin of 34.34%.The company's revenue was up 41.2% on a year-over-year basis. During the same quarter last year, the firm posted ($0.22) EPS. On average, equities analysts forecast that Glaukos will post -0.57 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Alex R. Thurman sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $140.00, for a total transaction of $1,400,000.00. Following the completion of the transaction, the chief financial officer owned 43,681 shares in the company, valued at $6,115,340. This trade represents a 18.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Leana Wen sold 1,700 shares of the firm's stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $143.35, for a total value of $243,695.00. Following the transaction, the director owned 19,739 shares of the company's stock, valued at $2,829,585.65. This trade represents a 7.93% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 45,930 shares of company stock worth $6,321,363 over the last 90 days. Corporate insiders own 5.90% of the company's stock.

Hedge Funds Weigh In On Glaukos

Several institutional investors have recently bought and sold shares of GKOS. First Horizon Corp increased its position in Glaukos by 1,715.4% in the 4th quarter. First Horizon Corp now owns 236 shares of the medical instruments supplier's stock valued at $27,000 after acquiring an additional 223 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in Glaukos in the 4th quarter valued at about $28,000. UMB Bank n.a. increased its position in Glaukos by 102.6% in the 3rd quarter. UMB Bank n.a. now owns 312 shares of the medical instruments supplier's stock valued at $25,000 after acquiring an additional 158 shares in the last quarter. Larson Financial Group LLC increased its position in Glaukos by 62.0% in the 4th quarter. Larson Financial Group LLC now owns 345 shares of the medical instruments supplier's stock valued at $39,000 after acquiring an additional 132 shares in the last quarter. Finally, Parallel Advisors LLC increased its position in Glaukos by 159.2% in the 1st quarter. Parallel Advisors LLC now owns 368 shares of the medical instruments supplier's stock valued at $40,000 after acquiring an additional 226 shares in the last quarter. 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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