Glaukos (NYSE:GKOS) Shares Gap Down to $117.17

Shares of Glaukos Co. (NYSE:GKOS) gapped down prior to trading on Thursday . The stock had previously closed at $117.17, but opened at $111.00. Glaukos shares last traded at $111.97, with a volume of 145,114 shares traded.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Stifel Nicolaus lifted their target price on shares of Glaukos from $110.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, June 5th. Wells Fargo & Company lifted their price objective on Glaukos from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday. Truist Financial reissued a “buy” rating and issued a $145.00 target price (up previously from $141.00) on shares of Glaukos in a report on Thursday. Jefferies Financial Group upgraded Glaukos from a “hold” rating to a “buy” rating and boosted their price target for the company from $84.00 to $125.00 in a research note on Monday, May 6th. Finally, Mizuho increased their price target on shares of Glaukos from $85.00 to $100.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $127.73.

Glaukos Price Performance

The firm has a 50 day moving average of $116.81 and a 200-day moving average of $102.92. The company has a current ratio of 5.48, a quick ratio of 4.68 and a debt-to-equity ratio of 0.19. The company has a market cap of $5.85 billion, a P/E ratio of -40.33 and a beta of 1.05.

Glaukos (NYSE:GKOS) last announced its quarterly earnings data on Wednesday, July 31st. The medical instruments supplier reported ($0.52) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.52). Glaukos had a negative net margin of 47.39% and a negative return on equity of 22.51%. The business had revenue of $95.70 million during the quarter, compared to analyst estimates of $88.86 million. During the same period last year, the firm posted ($0.55) EPS. The company’s revenue was up 19.0% on a year-over-year basis. On average, equities research analysts predict that Glaukos Co. will post -2.25 EPS for the current year.

Insider Activity

In related news, CFO Alex R. Thurman sold 353 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $110.51, for a total value of $39,010.03. Following the sale, the chief financial officer now owns 51,647 shares in the company, valued at $5,707,509.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Marc Stapley sold 6,250 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $112.80, for a total value of $705,000.00. Following the completion of the sale, the director now directly owns 32,360 shares of the company’s stock, valued at approximately $3,650,208. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Alex R. Thurman sold 353 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $110.51, for a total value of $39,010.03. Following the transaction, the chief financial officer now directly owns 51,647 shares in the company, valued at approximately $5,707,509.97. The disclosure for this sale can be found here. Insiders sold a total of 18,943 shares of company stock worth $2,147,190 over the last 90 days. Corporate insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Trust Point Inc. purchased a new position in shares of Glaukos during the fourth quarter valued at approximately $555,000. International Assets Investment Management LLC purchased a new stake in shares of Glaukos during the fourth quarter valued at $259,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Glaukos by 2.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,542 shares of the medical instruments supplier’s stock valued at $1,951,000 after buying an additional 610 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in Glaukos by 3,894.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 72,978 shares of the medical instruments supplier’s stock valued at $5,801,000 after buying an additional 71,151 shares during the period. Finally, Louisiana State Employees Retirement System bought a new position in Glaukos in the 4th quarter worth about $1,940,000. 99.04% of the stock is owned by hedge funds and other institutional investors.

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.