Glaukos (NYSE:GKOS) Given New $72.00 Price Target at Morgan Stanley

Glaukos (NYSE:GKOS - Get Free Report) had its price objective reduced by Morgan Stanley from $110.00 to $72.00 in a report released on Tuesday,Benzinga reports. The firm currently has an "underweight" rating on the medical instruments supplier's stock. Morgan Stanley's price target indicates a potential downside of 16.08% from the stock's previous close.

GKOS has been the topic of a number of other research reports. Stifel Nicolaus dropped their target price on shares of Glaukos from $140.00 to $115.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Piper Sandler lowered their target price on shares of Glaukos from $180.00 to $165.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Stephens cut their price target on Glaukos from $140.00 to $115.00 and set an "overweight" rating on the stock in a research note on Friday. Truist Financial reissued a "buy" rating and issued a $135.00 target price (down from $140.00) on shares of Glaukos in a research note on Thursday, May 1st. Finally, Needham & Company LLC cut their price objective on shares of Glaukos from $176.00 to $115.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $133.92.

Glaukos Trading Down 1.2 %

GKOS stock traded down $1.07 during midday trading on Tuesday, hitting $85.79. The company had a trading volume of 141,425 shares, compared to its average volume of 673,537. The stock has a market cap of $4.90 billion, a price-to-earnings ratio of -29.89 and a beta of 0.88. The stock's 50 day moving average price is $96.93 and its 200 day moving average price is $128.49. 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.

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

Insiders Place Their Bets

In related news, insider Tomas Navratil sold 3,416 shares of the business's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $147.14, for a total transaction of $502,630.24. Following the transaction, the insider now directly owns 72,437 shares in the company, valued at approximately $10,658,380.18. The trade was a 4.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal 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 stock was sold at an average price of $106.84, for a total value of $162,396.80. Following the transaction, the chief financial officer now owns 53,431 shares in the company, valued at approximately $5,708,568.04. This represents a 2.77 % 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 Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in GKOS. Bessemer Group Inc. raised its stake in Glaukos by 133.9% during the 1st quarter. Bessemer Group Inc. now owns 276 shares of the medical instruments supplier's stock valued at $27,000 after acquiring an additional 158 shares during the last quarter. Whipplewood Advisors LLC grew its stake in shares of Glaukos by 3,957.1% during the 1st quarter. Whipplewood Advisors LLC now owns 284 shares of the medical instruments supplier's stock worth $28,000 after purchasing an additional 277 shares during the period. IFP Advisors Inc purchased a new stake in Glaukos during the fourth quarter worth about $43,000. First Horizon Advisors Inc. grew its position in Glaukos by 72.9% during the first 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 period. Finally, Versant Capital Management Inc lifted its position in shares of Glaukos by 583.9% during the 1st quarter. Versant Capital Management Inc now owns 383 shares of the medical instruments supplier's stock valued at $38,000 after acquiring an additional 327 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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