Glaukos (NYSE:GKOS) Sets New 12-Month Low – Here’s Why

Glaukos Co. (NYSE:GKOS) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $88.75 and last traded at $90.15, with a volume of 473789 shares. The stock had previously closed at $100.04.

Analyst Ratings Changes

Several research analysts have commented on the stock. Stifel Nicolaus raised their price target on shares of Glaukos from $153.00 to $175.00 and gave the company a “buy” rating in a report on Tuesday, December 31st. Piper Sandler restated an “overweight” rating and set a $180.00 target price (up from $140.00) on shares of Glaukos in a research report on Monday, January 27th. Truist Financial raised their price target on Glaukos from $152.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Citigroup raised Glaukos from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $132.00 to $162.00 in a report on Wednesday, December 11th. Finally, Needham & Company LLC raised their target price on shares of Glaukos from $149.00 to $176.00 and gave the company a “buy” rating in a research note on Friday, February 21st. One investment analyst has rated the stock with a sell rating, one has given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $163.25.

Glaukos Stock Performance

The company has a market cap of $4.73 billion, a P/E ratio of -29.14 and a beta of 0.99. The business has a 50 day moving average price of $123.88 and a two-hundred day moving average price of $134.52. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.71 and a current ratio of 5.54.

Glaukos (NYSE:GKOS) last announced its quarterly earnings data on Thursday, February 20th. The medical instruments supplier reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.02). Glaukos had a negative net margin of 39.04% and a negative return on equity of 16.53%. The company had revenue of $105.50 million during the quarter, compared to the consensus estimate of $100.72 million. On average, sell-side analysts anticipate that Glaukos Co. will post -1.08 earnings per share for the current year.

Insider Buying and Selling at Glaukos

In related news, insider Tomas Navratil sold 3,416 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $147.14, for a total value of $502,630.24. Following the completion of the sale, the insider now owns 72,437 shares of the company’s stock, valued at $10,658,380.18. This trade represents a 4.50 % 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, CFO Alex R. Thurman sold 1,520 shares of the business’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $106.84, for a total transaction of $162,396.80. Following the transaction, the chief financial officer now directly owns 53,431 shares in the company, valued at approximately $5,708,568.04. The trade was a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Glaukos

Several institutional investors and hedge funds have recently modified their holdings of GKOS. State of Wyoming raised its stake in Glaukos by 2.3% in the fourth quarter. State of Wyoming now owns 3,245 shares of the medical instruments supplier’s stock worth $487,000 after buying an additional 72 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in shares of Glaukos by 3.3% during the 4th quarter. Quadrant Capital Group LLC now owns 2,300 shares of the medical instruments supplier’s stock worth $345,000 after acquiring an additional 73 shares during the period. Mutual of America Capital Management LLC raised its position in shares of Glaukos by 1.1% in the 4th quarter. Mutual of America Capital Management LLC now owns 8,353 shares of the medical instruments supplier’s stock worth $1,252,000 after acquiring an additional 89 shares in the last quarter. HighTower Advisors LLC lifted its stake in shares of Glaukos by 2.8% in the 4th quarter. HighTower Advisors LLC now owns 3,298 shares of the medical instruments supplier’s stock valued at $495,000 after purchasing an additional 91 shares during the period. Finally, Louisiana State Employees Retirement System boosted its position in shares of Glaukos by 0.4% during the fourth quarter. Louisiana State Employees Retirement System now owns 26,700 shares of the medical instruments supplier’s stock valued at $4,003,000 after purchasing an additional 100 shares in the last quarter. 99.04% of the stock is owned by hedge funds and other institutional investors.

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.