Morgan Stanley Lowers Glaukos (NYSE:GKOS) Price Target to $72.00

Glaukos (NYSE:GKOS - Free Report) had its price objective trimmed by Morgan Stanley from $110.00 to $72.00 in a research note published on Tuesday,Benzinga reports. The brokerage currently has an underweight rating on the medical instruments supplier's stock.

Other analysts also recently issued research reports about the company. Wells Fargo & Company downgraded Glaukos from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $160.00 to $86.00 in a research report on Thursday, May 1st. Needham & Company LLC dropped their price target on shares of Glaukos from $176.00 to $115.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Mizuho lowered their price objective on Glaukos from $200.00 to $175.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 16th. 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 report on Tuesday, April 15th. Finally, Truist Financial restated 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. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $134.67.

Glaukos Stock Performance

GKOS stock traded down $0.60 during mid-day trading on Tuesday, reaching $89.94. 511,969 shares of the stock traded hands, compared to its average volume of 682,126. The company has a quick ratio of 4.71, a current ratio of 5.54 and a debt-to-equity ratio of 0.19. The business has a 50-day moving average of $94.87 and a two-hundred day moving average of $127.31. The firm has a market capitalization of $5.14 billion, a PE ratio of -31.34 and a beta of 0.83. Glaukos has a 52 week low of $77.10 and a 52 week high of $163.71.

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

Insider Activity at Glaukos

In other Glaukos 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 value of $162,396.80. Following the completion of the sale, the chief financial officer now owns 53,431 shares in the company, valued at approximately $5,708,568.04. The trade was a 2.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Tomas Navratil sold 3,416 shares of the company's 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 sale, the insider now owns 72,437 shares of the company's stock, valued at $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 Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of GKOS. William Blair Investment Management LLC bought a new stake in shares of Glaukos during the fourth quarter valued at approximately $121,390,000. Alliancebernstein L.P. lifted its position in Glaukos by 1,235.4% during the 4th quarter. Alliancebernstein L.P. now owns 816,153 shares of the medical instruments supplier's stock valued at $122,374,000 after acquiring an additional 755,035 shares during the period. Norges Bank bought a new stake in Glaukos during the fourth quarter worth about $84,490,000. Westfield Capital Management Co. LP grew its holdings in Glaukos by 34.3% in the first quarter. Westfield Capital Management Co. LP now owns 1,084,184 shares of the medical instruments supplier's stock worth $106,705,000 after purchasing an additional 277,033 shares during the period. Finally, Gilder Gagnon Howe & Co. LLC increased its stake in shares of Glaukos by 25.3% during the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 825,276 shares of the medical instruments supplier's stock valued at $123,742,000 after purchasing an additional 166,677 shares in the last quarter. Institutional investors own 99.04% of the company's stock.

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.