Glaukos (NYSE:GKOS) Shares Down 6.6% After Analyst Downgrade

Glaukos Co. (NYSE:GKOS - Get Free Report) traded down 6.6% during mid-day trading on Wednesday after Mizuho lowered their price target on the stock from $200.00 to $175.00. Mizuho currently has an outperform rating on the stock. Glaukos traded as low as $88.00 and last traded at $88.25. 273,197 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 882,460 shares. The stock had previously closed at $94.52.

GKOS has been the topic of a number of other research reports. Wells Fargo & Company raised their target price on Glaukos from $153.00 to $160.00 and gave the company an "overweight" rating in a report on Friday, February 21st. Piper Sandler reduced their target price on shares of Glaukos from $180.00 to $165.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. Truist Financial decreased their price objective on Glaukos from $185.00 to $140.00 and set a "buy" rating for the company in a report on Friday, April 11th. Needham & Company LLC raised their price target on Glaukos from $149.00 to $176.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Finally, Stifel Nicolaus upped their target price on shares of Glaukos from $153.00 to $175.00 and gave the stock a "buy" rating in a report on Tuesday, December 31st. One investment analyst has rated the stock with a sell rating, one has given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $156.17.

Insider Activity at Glaukos

In related 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 transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Alex R. Thurman sold 1,520 shares of the company'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 transaction of $162,396.80. Following the completion of the sale, the chief financial officer now directly owns 53,431 shares of the company's stock, valued at $5,708,568.04. The trade was a 2.77 % decrease in their position. The disclosure for this sale can be found here. 6.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Glaukos

Institutional investors and hedge funds have recently modified their holdings of the company. Whipplewood Advisors LLC raised its position in shares of Glaukos by 3,957.1% in the first quarter. Whipplewood Advisors LLC now owns 284 shares of the medical instruments supplier's stock worth $28,000 after acquiring an additional 277 shares during the period. Versant Capital Management Inc grew its position in shares of Glaukos by 583.9% in the first quarter. Versant Capital Management Inc now owns 383 shares of the medical instruments supplier's stock valued at $38,000 after purchasing an additional 327 shares in the last quarter. IFP Advisors Inc purchased a new position in shares of Glaukos during the 4th quarter worth $43,000. Asset Planning Inc acquired a new position in Glaukos in the 4th quarter valued at about $90,000. Finally, CoreCap Advisors LLC increased its stake in Glaukos by 36.4% during the fourth quarter. CoreCap Advisors LLC now owns 750 shares of the medical instruments supplier's stock worth $112,000 after acquiring an additional 200 shares during the last quarter. Institutional investors and hedge funds own 99.04% of the company's stock.

Glaukos Stock Down 2.6 %

The business has a 50-day moving average of $108.10 and a 200-day moving average of $131.41. The stock has a market capitalization of $4.98 billion, a price-to-earnings ratio of -30.64 and a beta of 0.88. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.71 and a current ratio of 5.54.

Glaukos (NYSE:GKOS - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The medical instruments supplier reported ($0.40) earnings per share for the quarter, missing analysts' consensus estimates of ($0.38) by ($0.02). The company had revenue of $105.50 million for the quarter, compared to analysts' expectations of $100.72 million. Glaukos had a negative return on equity of 16.53% and a negative net margin of 39.04%. On average, sell-side analysts expect that Glaukos Co. will post -1.08 EPS for the current year.

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.