Glaukos (NYSE:GKOS) Stock Price Down 4.5% - Here's Why

Key Points

• Glaukos shares fell 4.5% in Wednesday trading, with volume well below average, dropping as low as $120.30 after closing at $126.34 the prior session.
• Despite the decline, analysts remain constructive: multiple firms raised price targets, and the stock carries a consensus Moderate Buy rating with an average target of $146.17.
• The company’s latest earnings beat expectations, posting revenue of $150.57 million and a smaller-than-expected loss of $0.18 per share, while revenue grew 41.2% year over year.

Shares of Glaukos Corporation (NYSE:GKOS - Get Free Report) traded down 4.5% during trading on Wednesday . The stock traded as low as $120.30 and last traded at $120.6020. 271,822 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 873,276 shares. The stock had previously closed at $126.34.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Wells Fargo & Company upped their price target on shares of Glaukos from $135.00 to $138.00 and gave the company an "overweight" rating in a research note on Thursday, April 30th. Citigroup upped their price target on shares of Glaukos from $135.00 to $140.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Needham & Company LLC upped their price target on shares of Glaukos from $127.00 to $136.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Stifel Nicolaus set a $170.00 price target on shares of Glaukos in a research note on Thursday, April 30th. Finally, BTIG Research restated a "buy" rating and issued a $162.00 price target on shares of Glaukos in a research note on Wednesday. Twelve analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $146.17.

Glaukos Price Performance

The business's 50 day moving average is $123.04 and its 200-day moving average is $115.74. The firm has a market capitalization of $7.19 billion, a P/E ratio of -37.31 and a beta of 0.82. 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 (NYSE:GKOS - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $150.57 million for the quarter, compared to analysts' expectations of $137.00 million. Glaukos had a negative net margin of 34.34% and a negative return on equity of 6.92%. The firm's quarterly revenue was up 41.2% compared to the same quarter last year. During the same period last year, the firm posted ($0.22) earnings per share. As a group, sell-side analysts predict that Glaukos Corporation will post -0.57 EPS for the current fiscal year.

Insider Activity

In related news, Director Leana Wen sold 1,700 shares of Glaukos stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $143.35, for a total value of $243,695.00. Following the transaction, the director directly owned 19,739 shares of the company's stock, valued at $2,829,585.65. This trade represents a 7.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gilbert H. Kliman sold 5,000 shares of Glaukos stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $140.76, for a total transaction of $703,800.00. Following the completion of the transaction, the director directly owned 35,528 shares in the company, valued at $5,000,921.28. This trade represents a 12.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 45,930 shares of company stock valued at $6,321,363. 5.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in GKOS. Janus Henderson Group PLC lifted its holdings in shares of Glaukos by 77.2% in the first quarter. Janus Henderson Group PLC now owns 5,348,395 shares of the medical instruments supplier's stock worth $575,844,000 after acquiring an additional 2,329,608 shares during the last quarter. Primecap Management Co. CA lifted its holdings in shares of Glaukos by 49.8% in the fourth quarter. Primecap Management Co. CA now owns 3,376,928 shares of the medical instruments supplier's stock worth $381,289,000 after acquiring an additional 1,123,140 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Glaukos by 209.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,350,425 shares of the medical instruments supplier's stock worth $152,476,000 after acquiring an additional 913,458 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Glaukos by 75.3% in the fourth quarter. Millennium Management LLC now owns 1,609,699 shares of the medical instruments supplier's stock worth $181,751,000 after acquiring an additional 691,289 shares during the last quarter. Finally, UBS Group AG lifted its holdings in shares of Glaukos by 316.0% in the fourth quarter. UBS Group AG now owns 873,942 shares of the medical instruments supplier's stock worth $98,677,000 after acquiring an additional 663,849 shares during 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.