Glaukos (NYSE:GKOS) Trading Down 4.7% - What's Next?

Glaukos Corporation (NYSE:GKOS - Get Free Report) fell 4.7% during mid-day trading on Tuesday . The stock traded as low as $98.71 and last traded at $99.33. 152,101 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 741,214 shares. The stock had previously closed at $104.19.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GKOS. Needham & Company LLC reduced their price target on shares of Glaukos from $176.00 to $115.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Stifel Nicolaus reduced their price target on shares of Glaukos from $140.00 to $115.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Morgan Stanley reduced their price target on shares of Glaukos from $110.00 to $72.00 and set an "underweight" rating on the stock in a report on Tuesday, May 6th. Wells Fargo & Company lowered shares of Glaukos from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $160.00 to $86.00 in a research report on Thursday, May 1st. Finally, Stephens cut their price objective on shares of Glaukos from $140.00 to $115.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $134.67.

Glaukos Stock Down 4.9%

The stock has a market capitalization of $5.66 billion, a P/E ratio of -41.81 and a beta of 0.82. The company has a debt-to-equity ratio of 0.09, a current ratio of 6.49 and a quick ratio of 5.62. The stock's fifty day moving average is $97.18 and its two-hundred day moving average is $113.91.

Glaukos (NYSE:GKOS - Get Free Report) last issued its earnings results on Wednesday, April 30th. The medical instruments supplier reported ($0.22) earnings per share for the quarter, topping analysts' consensus estimates of ($0.33) by $0.11. The firm had revenue of $106.66 million during the quarter, compared to analysts' expectations of $102.78 million. Glaukos had a negative net margin of 31.40% and a negative return on equity of 10.66%. The firm's revenue for the quarter was up 24.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.70) earnings per share. As a group, research analysts predict that Glaukos Corporation will post -1.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Glaukos

Several hedge funds have recently made changes to their positions in GKOS. Bessemer Group Inc. raised 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 valued at $27,000 after purchasing an additional 158 shares in the last quarter. Whipplewood Advisors LLC raised its holdings in shares of Glaukos by 3,957.1% during the 1st quarter. Whipplewood Advisors LLC now owns 284 shares of the medical instruments supplier's stock valued at $28,000 after purchasing an additional 277 shares in the last quarter. First Horizon Advisors Inc. raised 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 valued at $37,000 after purchasing an additional 159 shares in the last quarter. Versant Capital Management Inc raised its holdings in shares of Glaukos by 583.9% during the 1st 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. Finally, CoreCap Advisors LLC raised its holdings in shares of Glaukos by 36.4% during the 4th quarter. CoreCap Advisors LLC now owns 750 shares of the medical instruments supplier's stock valued at $112,000 after purchasing an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 99.04% of the company's stock.

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.

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