Glaukos (NYSE:GKOS) Stock Price Down 3.4%

Glaukos Co. (NYSE:GKOS) traded down 3.4% on Tuesday . The stock traded as low as $119.82 and last traded at $120.00. 333,578 shares changed hands during trading, a decline of 43% from the average session volume of 581,144 shares. The stock had previously closed at $124.27.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on GKOS shares. Wells Fargo & Company boosted their price objective on shares of Glaukos from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. BTIG Research boosted their price target on shares of Glaukos from $131.00 to $139.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Citigroup cut Glaukos from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $130.00 to $132.00 in a research report on Wednesday, July 10th. Morgan Stanley increased their price target on shares of Glaukos from $100.00 to $120.00 and gave the company an “equal weight” rating in a report on Monday, July 15th. Finally, Stifel Nicolaus boosted their price objective on shares of Glaukos from $130.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Glaukos presently has an average rating of “Moderate Buy” and an average price target of $129.82.

Glaukos Trading Down 2.2 %

The business’s 50-day simple moving average is $124.57 and its two-hundred day simple moving average is $110.63. The stock has a market capitalization of $6.12 billion, a price-to-earnings ratio of -43.15 and a beta of 1.03. The company has a debt-to-equity ratio of 0.19, a current ratio of 5.48 and a quick ratio of 4.67.

Glaukos (NYSE:GKOS) last announced its quarterly earnings results on Wednesday, July 31st. The medical instruments supplier reported ($0.52) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.52). Glaukos had a negative return on equity of 22.51% and a negative net margin of 47.39%. The firm had revenue of $95.70 million during the quarter, compared to the consensus estimate of $88.86 million. During the same period in the prior year, the firm earned ($0.55) EPS. The firm’s quarterly revenue was up 19.0% compared to the same quarter last year. On average, research analysts anticipate that Glaukos Co. will post -2.18 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Gilbert H. Kliman sold 3,000 shares of Glaukos stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $130.67, for a total transaction of $392,010.00. Following the sale, the director now owns 32,336 shares in the company, valued at $4,225,345.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Gilbert H. Kliman sold 3,000 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $130.67, for a total value of $392,010.00. Following the completion of the transaction, the director now directly owns 32,336 shares in the company, valued at $4,225,345.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Marc Stapley sold 6,250 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $125.93, for a total transaction of $787,062.50. Following the sale, the director now directly owns 34,076 shares of the company’s stock, valued at $4,291,190.68. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,500 shares of company stock worth $5,099,000. 6.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Glaukos

A number of hedge funds and other institutional investors have recently modified their holdings of the business. National Bank of Canada FI acquired a new stake in Glaukos during the 4th quarter valued at approximately $46,000. Charles Schwab Investment Management Inc. grew its position in shares of Glaukos by 1.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 392,240 shares of the medical instruments supplier’s stock worth $31,179,000 after buying an additional 5,450 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Glaukos by 3.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 923,526 shares of the medical instruments supplier’s stock worth $73,412,000 after buying an additional 31,213 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in Glaukos by 54.8% in the fourth quarter. Quadrant Capital Group LLC now owns 929 shares of the medical instruments supplier’s stock valued at $74,000 after acquiring an additional 329 shares in the last quarter. Finally, Norges Bank acquired a new stake in Glaukos in the fourth quarter valued at $28,807,000. 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.