Glaukos (NYSE:GKOS) Cut to “Underweight” at Morgan Stanley

Morgan Stanley downgraded shares of Glaukos (NYSE:GKOS) from an equal weight rating to an underweight rating in a research note issued to investors on Monday morning, MarketBeat.com reports. Morgan Stanley currently has $120.00 target price on the medical instruments supplier’s stock.

Several other analysts have also weighed in on GKOS. Truist Financial lifted their price objective on Glaukos from $145.00 to $152.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Stifel Nicolaus lifted their price objective on Glaukos from $130.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. JPMorgan Chase & Co. boosted their price target on Glaukos from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. StockNews.com raised Glaukos from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. Finally, Wells Fargo & Company boosted their price target on Glaukos from $135.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Glaukos currently has an average rating of “Moderate Buy” and a consensus price target of $136.18.

Glaukos Price Performance

Shares of NYSE:GKOS opened at $138.27 on Monday. Glaukos has a 1-year low of $59.58 and a 1-year high of $146.86. The firm has a market capitalization of $7.62 billion, a PE ratio of -45.78 and a beta of 1.03. The business’s 50 day moving average is $134.76 and its 200-day moving average is $125.44. The company has a current ratio of 5.54, a quick ratio of 4.71 and a debt-to-equity ratio of 0.19.

Glaukos (NYSE:GKOS) last announced its quarterly earnings data on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.48) by $0.20. Glaukos had a negative return on equity of 18.99% and a negative net margin of 42.43%. The company had revenue of $96.70 million for the quarter, compared to analyst estimates of $91.50 million. During the same quarter last year, the firm earned ($0.50) EPS. Glaukos’s revenue for the quarter was up 23.9% compared to the same quarter last year. Sell-side analysts predict that Glaukos will post -1.91 earnings per share for the current year.

Insider Buying and Selling at Glaukos

In other news, COO Joseph E. Gilliam sold 2,275 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $138.97, for a total transaction of $316,156.75. Following the completion of the sale, the chief operating officer now owns 102,169 shares in the company, valued at $14,198,425.93. The trade was a 2.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gilbert H. Kliman sold 3,000 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $130.67, for a total value of $392,010.00. Following the sale, the director now owns 32,336 shares of the company’s stock, valued at approximately $4,225,345.12. The trade was a 8.49 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Glaukos

A number of institutional investors and hedge funds have recently made changes to their positions in GKOS. Cetera Advisors LLC acquired a new stake in shares of Glaukos during the first quarter worth $213,000. GAMMA Investing LLC grew its stake in shares of Glaukos by 68.8% during the second quarter. GAMMA Investing LLC now owns 1,192 shares of the medical instruments supplier’s stock worth $141,000 after purchasing an additional 486 shares during the period. LVW Advisors LLC acquired a new stake in shares of Glaukos during the second quarter worth $213,000. Sequoia Financial Advisors LLC acquired a new stake in shares of Glaukos during the second quarter worth $229,000. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Glaukos during the second quarter worth $6,832,000. 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.