Glaukos (NYSE:GKOS) Shares Gap Down – Here’s What Happened

Glaukos Co. (NYSE:GKOS) shares gapped down before the market opened on Tuesday . The stock had previously closed at $131.38, but opened at $125.00. Glaukos shares last traded at $126.75, with a volume of 337,633 shares traded.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Wells Fargo & Company increased their price target on shares of Glaukos from $135.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday. JPMorgan Chase & Co. increased their price target on shares of Glaukos from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday. BTIG Research increased their price target on shares of Glaukos from $131.00 to $139.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. StockNews.com raised shares of Glaukos from a “sell” rating to a “hold” rating in a report on Monday, October 21st. Finally, Citigroup cut shares of Glaukos from a “buy” rating to a “neutral” rating and raised their target price for the company from $130.00 to $132.00 in a report on Wednesday, July 10th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $134.55.

Glaukos Trading Down 2.5 %

The business’s 50-day moving average is $129.64 and its two-hundred day moving average is $119.98. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.67 and a current ratio of 5.48. The stock has a market capitalization of $7.04 billion, a PE ratio of -39.72 and a beta of 1.02.

Glaukos (NYSE:GKOS) last released its earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.20. Glaukos had a negative return on equity of 22.51% and a negative net margin of 47.39%. The company had revenue of $96.70 million during the quarter, compared to the consensus estimate of $91.50 million. During the same quarter last year, the company earned ($0.50) earnings per share. Glaukos’s quarterly revenue was up 23.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Glaukos Co. will post -2.16 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 Glaukos 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 transaction, the chief operating officer now owns 102,169 shares of the company’s stock, valued at $14,198,425.93. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, COO Joseph E. Gilliam sold 2,275 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $138.97, for a total value of $316,156.75. Following the completion of the transaction, the chief operating officer now owns 102,169 shares of the company’s stock, valued at approximately $14,198,425.93. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gilbert H. Kliman sold 3,000 shares of the business’s stock in a transaction dated 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 $4,225,345.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,525 shares of company stock valued at $5,142,029. 6.40% of the stock is owned by company insiders.

Institutional Trading of Glaukos

A number of institutional investors have recently modified their holdings of the company. Values First Advisors Inc. purchased a new position in Glaukos in the 3rd quarter worth approximately $25,000. GAMMA Investing LLC boosted its holdings in Glaukos by 68.8% in the 2nd quarter. GAMMA Investing LLC now owns 1,192 shares of the medical instruments supplier’s stock worth $141,000 after acquiring an additional 486 shares during the period. Fifth Third Wealth Advisors LLC purchased a new position in Glaukos in the 2nd quarter worth approximately $187,000. Brighton Jones LLC purchased a new position in Glaukos in the 2nd quarter worth approximately $208,000. Finally, Procyon Advisors LLC purchased a new position in Glaukos in the 3rd quarter worth approximately $210,000. Hedge funds and other 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.