Glaukos (NYSE:GKOS) Stock Price Down 5.2% - Here's What Happened

Key Points

• Glaukos Corporation’s stock price fell by 5.2%, closing at $82.96 after peaking at $83.35 during the day's trading.
• Analyst ratings vary; while UBS and Mizuho set target prices of $134.00 and $130.00 respectively, Zacks downgraded the stock to a "hold" rating.
• Despite the recent drop in stock price, Glaukos reported a 29.7% year-over-year revenue increase, with quarterly earnings exceeding estimates by $0.02.

Glaukos Corporation (NYSE:GKOS - Get Free Report) dropped 5.2% during trading on Friday . The company traded as low as $83.35 and last traded at $82.96. Approximately 220,366 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 926,969 shares. The stock had previously closed at $87.47.

Analyst Upgrades and Downgrades

GKOS has been the topic of a number of research reports. UBS Group boosted their target price on shares of Glaukos from $125.00 to $134.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Mizuho set a $130.00 price target on shares of Glaukos in a research note on Thursday, July 31st. Zacks Research downgraded shares of Glaukos from a "strong-buy" rating to a "hold" rating in a report on Friday, August 15th. Wells Fargo & Company raised their price objective on shares of Glaukos from $86.00 to $92.00 and gave the stock an "equal weight" rating in a report on Thursday, July 31st. Finally, BTIG Research reiterated a "buy" rating and set a $118.00 target price on shares of Glaukos in a research report on Wednesday. One equities research 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 assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $124.83.

Glaukos Stock Performance

The firm's 50-day moving average price is $93.90 and its 200 day moving average price is $96.08. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.69 and a current ratio of 5.51. The company has a market cap of $4.76 billion, a price-to-earnings ratio of -50.22 and a beta of 0.77.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Bessemer Group Inc. grew its holdings in Glaukos by 133.9% during the first quarter. Bessemer Group Inc. now owns 276 shares of the medical instruments supplier's stock valued at $27,000 after purchasing an additional 158 shares during the period. Whipplewood Advisors LLC lifted its stake in Glaukos by 3,957.1% in the first quarter. Whipplewood Advisors LLC now owns 284 shares of the medical instruments supplier's stock valued at $28,000 after buying an additional 277 shares in the last quarter. First Horizon Advisors Inc. lifted its stake in Glaukos by 72.9% in the first quarter. First Horizon Advisors Inc. now owns 377 shares of the medical instruments supplier's stock valued at $37,000 after buying an additional 159 shares in the last quarter. Versant Capital Management Inc lifted its stake in 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 buying an additional 327 shares in the last quarter. Finally, Park Place Capital Corp lifted its stake in Glaukos by 68.4% in the second quarter. Park Place Capital Corp now owns 399 shares of the medical instruments supplier's stock valued at $41,000 after buying an additional 162 shares in the last quarter. Institutional investors and hedge funds 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.

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