Glaukos (NYSE:GKOS) Trading Down 9.9% - Time to Sell?

Key Points

• Glaukos Corporation's stock price dropped by 9.9% to $84.70, with a trading volume increase to 965,464 shares compared to the average of 927,431 shares.
• Analysts have mixed ratings, with a consensus rating of "Moderate Buy" and a target price of $127.42, though recent changes have seen price targets range from $92.00 to $135.00.
• The company reported a revenue increase of 29.7% year-over-year and posted an earnings per share of ($0.24), exceeding expectations by $0.02.

Glaukos Corporation (NYSE:GKOS - Get Free Report)'s stock price fell 9.9% on Thursday . The company traded as low as $86.56 and last traded at $84.70. 965,464 shares changed hands during mid-day trading, an increase of 4% from the average session volume of 927,431 shares. The stock had previously closed at $94.05.

Analysts Set New Price Targets

Several research firms have issued reports on GKOS. BTIG Research restated a "buy" rating on shares of Glaukos in a research report on Monday, July 14th. Wells Fargo & Company increased their price target on shares of Glaukos from $86.00 to $92.00 and gave the stock an "equal weight" rating in a research note on Thursday. Stifel Nicolaus decreased their target price on Glaukos from $140.00 to $115.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Mizuho set a $130.00 target price on Glaukos in a research note on Thursday. Finally, Truist Financial reaffirmed a "buy" rating and issued a $135.00 price target (down from $140.00) on shares of Glaukos in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $127.42.

Glaukos Trading Down 7.7%

The business's 50-day moving average is $98.44 and its two-hundred day moving average is $109.49. The company has a current ratio of 6.49, a quick ratio of 5.62 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $4.96 billion, a PE ratio of -36.63 and a beta of 0.82.

Glaukos (NYSE:GKOS - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The medical instruments supplier reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.02. Glaukos had a negative return on equity of 10.66% and a negative net margin of 31.40%. The business had revenue of $124.12 million for the quarter, compared to the consensus estimate of $115.49 million. During the same quarter last year, the business posted ($0.52) EPS. The business's revenue was up 29.7% on a year-over-year basis. On average, analysts predict that Glaukos Corporation will post -1.08 earnings per share for the current year.

Institutional Investors Weigh In On Glaukos

Several large investors have recently made changes to their positions in the stock. Bessemer Group Inc. grew its position 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 worth $27,000 after purchasing an additional 158 shares in the last quarter. OneAscent Financial Services LLC acquired a new position in Glaukos during the first quarter valued at approximately $408,000. Harbor Capital Advisors Inc. lifted its position in shares of Glaukos by 59.5% during the 1st quarter. Harbor Capital Advisors Inc. now owns 39,132 shares of the medical instruments supplier's stock worth $3,851,000 after buying an additional 14,593 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Glaukos by 35.2% during the 1st quarter. SG Americas Securities LLC now owns 4,924 shares of the medical instruments supplier's stock valued at $485,000 after purchasing an additional 1,283 shares during the last quarter. Finally, Comerica Bank boosted its position in Glaukos by 664.5% in the fourth quarter. Comerica Bank now owns 151,538 shares of the medical instruments supplier's stock valued at $22,722,000 after buying an additional 131,715 shares in the last quarter. 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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