Glaukos (NYSE:GKOS) Trading Down 4.3% - Time to Sell?

Key Points

• Glaukos Corporation's shares fell by 4.3% on Friday, trading between $82.41 and $82.17, with a reported volume decrease of 79% from average levels.
• Analysts have mixed ratings for Glaukos, with a consensus of "Moderate Buy" and a price target of $124.83, following recent upgrades and downgrades from various research firms.
• The company beat earnings estimates with a reported revenue increase of 29.7% year-over-year, totaling $124.12 million, despite posting a loss of ($0.24) EPS.

Glaukos Corporation (NYSE:GKOS - Get Free Report)'s share price dropped 4.3% during mid-day trading on Friday . The stock traded as low as $82.41 and last traded at $82.17. Approximately 190,458 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 929,016 shares. The stock had previously closed at $85.84.

Analyst Ratings Changes

GKOS has been the subject of several recent research reports. BTIG Research reaffirmed a "buy" rating and issued a $118.00 price objective on shares of Glaukos in a research note on Wednesday, September 10th. Zacks Research downgraded Glaukos from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 15th. Truist Financial lowered their price objective on Glaukos from $126.00 to $120.00 and set a "buy" rating for the company in a research note on Monday. William Blair raised Glaukos to a "strong-buy" rating in a research note on Thursday, July 31st. Finally, Wells Fargo & Company upped their target price on Glaukos from $86.00 to $92.00 and gave the company an "equal weight" rating in a report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $123.58.

Glaukos Trading Up 1.5%

The company has a fifty day moving average of $90.99 and a 200 day moving average of $94.36. The company has a quick ratio of 4.69, a current ratio of 5.51 and a debt-to-equity ratio of 0.09.

Glaukos (NYSE:GKOS - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The medical instruments supplier reported ($0.24) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.26) by $0.02. The firm had revenue of $124.12 million for the quarter, compared to analysts' expectations of $115.49 million. Glaukos had a negative return on equity of 8.59% and a negative net margin of 21.43%.The company's revenue for the quarter was up 29.7% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.52) EPS. Glaukos has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Glaukos Corporation will post -1.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Glaukos

A number of institutional investors and hedge funds have recently modified their holdings of the business. Valeo Financial Advisors LLC boosted its holdings in shares of Glaukos by 1.5% during the 1st quarter. Valeo Financial Advisors LLC now owns 7,817 shares of the medical instruments supplier's stock worth $769,000 after buying an additional 117 shares in the last quarter. LVW Advisors LLC boosted its holdings in shares of Glaukos by 5.9% during the 1st quarter. LVW Advisors LLC now owns 2,408 shares of the medical instruments supplier's stock worth $237,000 after buying an additional 135 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Glaukos by 16.2% during the 2nd quarter. Smartleaf Asset Management LLC now owns 973 shares of the medical instruments supplier's stock worth $99,000 after buying an additional 136 shares in the last quarter. Bessemer Group Inc. boosted its holdings in shares of Glaukos by 133.9% during the 1st quarter. Bessemer Group Inc. now owns 276 shares of the medical instruments supplier's stock worth $27,000 after buying an additional 158 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its holdings in shares of Glaukos by 72.9% during the 1st 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 in the last quarter. 99.04% of the stock is currently owned by institutional investors.

About Glaukos

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.