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Glaukos (NYSE:GKOS) Trading Down 4.7% - Here's Why

Glaukos logo with Medical background

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

Analyst Ratings Changes

A number of research analysts have commented on GKOS shares. Wells Fargo & Company downgraded Glaukos from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $160.00 to $86.00 in a research note on Thursday, May 1st. Mizuho decreased their price target on Glaukos from $200.00 to $175.00 and set an "outperform" rating for the company in a research note on Wednesday, April 16th. Stephens decreased their price target on Glaukos from $140.00 to $115.00 and set an "overweight" rating for the company in a research note on Friday, May 2nd. BTIG Research restated a "buy" rating on shares of Glaukos in a research note on Monday. Finally, Morgan Stanley decreased their target price on Glaukos from $110.00 to $72.00 and set an "underweight" rating for the company in a research note on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $134.67.

Read Our Latest Stock Analysis on Glaukos

Glaukos Stock Performance

The firm has a 50 day moving average of $98.28 and a two-hundred day moving average of $112.66. The company has a debt-to-equity ratio of 0.09, a quick ratio of 5.62 and a current ratio of 6.49. The stock has a market cap of $5.59 billion, a P/E ratio of -41.25 and a beta of 0.82.

Glaukos (NYSE:GKOS - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The medical instruments supplier reported ($0.22) EPS for the quarter, beating the consensus estimate 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 return on equity of 10.66% and a negative net margin of 31.40%. The company's revenue for the quarter was up 24.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.70) EPS. On average, research analysts predict that Glaukos Corporation will post -1.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Glaukos

Several large investors have recently added to or reduced their stakes in GKOS. Bessemer Group Inc. raised its holdings in shares of Glaukos by 133.9% in 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. Whipplewood Advisors LLC raised its holdings in shares of Glaukos by 3,957.1% in the 1st quarter. Whipplewood Advisors LLC now owns 284 shares of the medical instruments supplier's stock worth $28,000 after buying an additional 277 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in shares of Glaukos by 72.9% in 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. Versant Capital Management Inc raised its holdings in shares of Glaukos by 583.9% in the 1st quarter. Versant Capital Management Inc now owns 383 shares of the medical instruments supplier's stock worth $38,000 after buying an additional 327 shares in the last quarter. Finally, Park Place Capital Corp raised its holdings in shares of Glaukos by 68.4% in the 2nd quarter. Park Place Capital Corp now owns 399 shares of the medical instruments supplier's stock worth $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.

About Glaukos

(Get Free Report)

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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