Glaukos (NYSE:GKOS) Lowered to “Sell” at StockNews.com
Glaukos (NYSE:GKOS – Get Free Report) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Wednesday.
A number of other equities research analysts have also issued reports on the company. JPMorgan Chase & Co. dropped their target price on Glaukos from $71.00 to $66.00 and set a “neutral” rating on the stock in a research report on Thursday, November 2nd. Stifel Nicolaus reissued a “buy” rating and issued a $90.00 price objective on shares of Glaukos in a research report on Tuesday, September 26th. Needham & Company LLC decreased their target price on shares of Glaukos from $89.00 to $83.00 and set a “buy” rating for the company in a research report on Thursday, November 2nd. TheStreet lowered shares of Glaukos from a “c-” rating to a “d+” rating in a research note on Friday, November 24th. Finally, Morgan Stanley began coverage on shares of Glaukos in a research note on Monday. They set an “equal weight” rating and a $65.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Glaukos presently has a consensus rating of “Moderate Buy” and a consensus target price of $80.36.
View Our Latest Stock Analysis on Glaukos
Glaukos Stock Down 4.3 %
GKOS stock traded down $2.79 during mid-day trading on Wednesday, hitting $62.23. 467,155 shares of the company were exchanged, compared to its average volume of 463,472. The firm has a market cap of $3.04 billion, a P/E ratio of -23.13 and a beta of 1.11. Glaukos has a 1-year low of $40.45 and a 1-year high of $80.28. The company has a debt-to-equity ratio of 0.74, a quick ratio of 5.36 and a current ratio of 5.95. The firm’s 50 day simple moving average is $66.60 and its 200 day simple moving average is $69.52.
Glaukos (NYSE:GKOS – Get Free Report) last issued its quarterly earnings data on Wednesday, November 1st. The medical instruments supplier reported ($0.50) EPS for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.06. The business had revenue of $78.05 million for the quarter, compared to analyst estimates of $75.25 million. Glaukos had a negative net margin of 42.61% and a negative return on equity of 20.82%. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period last year, the business posted ($0.45) earnings per share. On average, sell-side analysts predict that Glaukos will post -2.2 EPS for the current fiscal year.
Insider Buying and Selling
In other Glaukos news, CEO Thomas William Burns sold 45,000 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $71.98, for a total value of $3,239,100.00. Following the transaction, the chief executive officer now directly owns 54,785 shares of the company’s stock, valued at approximately $3,943,424.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 7.80% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in GKOS. Vanguard Group Inc. grew its position in Glaukos by 0.4% during the third quarter. Vanguard Group Inc. now owns 5,380,720 shares of the medical instruments supplier’s stock worth $286,470,000 after buying an additional 23,473 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Glaukos by 6.8% in the first quarter. Wellington Management Group LLP now owns 4,684,699 shares of the medical instruments supplier’s stock worth $234,703,000 after purchasing an additional 299,043 shares during the period. Brown Capital Management LLC raised its stake in Glaukos by 7.1% in the first quarter. Brown Capital Management LLC now owns 2,904,658 shares of the medical instruments supplier’s stock valued at $145,523,000 after purchasing an additional 191,849 shares in the last quarter. Braidwell LP lifted its position in Glaukos by 8.7% during the first quarter. Braidwell LP now owns 1,806,651 shares of the medical instruments supplier’s stock worth $90,513,000 after purchasing an additional 144,800 shares during the period. Finally, State Street Corp grew its stake in Glaukos by 1.8% during the second quarter. State Street Corp now owns 1,782,347 shares of the medical instruments supplier’s stock worth $126,921,000 after buying an additional 31,471 shares in the last quarter. 99.04% of the stock is owned by institutional investors.
Glaukos Company Profile (Get Free Report)
Glaukos Corporation, an ophthalmic medical technology and pharmaceutical company, focuses on the development of novel therapies for the treatment of glaucoma, corneal disorders, and retinal diseases. It offers iStent, iStent inject, iStent inject W micro-bypass stents that enhance aqueous humor outflow inserted in cataract surgery to treat mild-to-moderate open-angle glaucoma.
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Original: MarketBeat News Feed: Glaukos (NYSE:GKOS) Lowered to “Sell” at StockNews.com