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

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 trading hands.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on GKOS shares. Jefferies Financial Group raised Glaukos from a “hold” rating to a “buy” rating and lifted their price objective for the company from $84.00 to $125.00 in a report on Monday, May 6th. Wells Fargo & Company upped their price objective on shares of Glaukos from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday. Piper Sandler raised their target price on shares of Glaukos from $110.00 to $140.00 and gave the company an “overweight” rating in a report on Thursday. Needham & Company LLC upped their price target on shares of Glaukos from $131.00 to $137.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Citigroup cut shares of Glaukos from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $130.00 to $132.00 in a research note on Wednesday, July 10th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $127.73.

Glaukos Stock Performance

The company has a fifty day moving average of $116.81 and a two-hundred day moving average of $102.92. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.68 and a current ratio of 5.48. The company has a market cap of $5.85 billion, a price-to-earnings ratio of -40.33 and a beta of 1.05.

Glaukos (NYSE:GKOS) last posted its earnings results on Wednesday, July 31st. The medical instruments supplier reported ($0.52) EPS for the quarter, hitting the consensus estimate 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 for the quarter, compared to the consensus estimate of $88.86 million. During the same period last year, the company earned ($0.55) EPS. The firm’s revenue was up 19.0% compared to the same quarter last year. Equities research analysts anticipate that Glaukos Co. will post -2.25 EPS for the current year.

Insider Buying and Selling at Glaukos

In related news, CFO Alex R. Thurman sold 353 shares of the stock in a transaction on Friday, May 10th. The stock was 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Alex R. Thurman sold 353 shares of the firm’s stock in a transaction dated 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 owns 51,647 shares of the company’s stock, valued at approximately $5,707,509.97. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Joseph E. Gilliam sold 2,250 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $121.39, for a total value of $273,127.50. Following the completion of the transaction, the chief operating officer now owns 101,845 shares in the company, valued at approximately $12,362,964.55. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,943 shares of company stock valued at $2,147,190. Company insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of GKOS. Rhumbline Advisers boosted its holdings in shares of Glaukos by 3.7% in the 2nd quarter. Rhumbline Advisers now owns 141,091 shares of the medical instruments supplier’s stock worth $16,698,000 after buying an additional 5,079 shares during the last quarter. Natixis Advisors LLC raised its position in Glaukos by 12.5% in the second quarter. Natixis Advisors LLC now owns 37,297 shares of the medical instruments supplier’s stock worth $4,414,000 after acquiring an additional 4,158 shares during the period. Commonwealth Equity Services LLC increased its position in Glaukos by 20.7% in the second quarter. Commonwealth Equity Services LLC now owns 5,620 shares of the medical instruments supplier’s stock worth $665,000 after buying an additional 963 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Glaukos by 11.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,725 shares of the medical instruments supplier’s stock valued at $1,269,000 after buying an additional 1,104 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Glaukos by 148.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 412,376 shares of the medical instruments supplier’s stock valued at $48,805,000 after buying an additional 246,322 shares during the last quarter. Institutional investors own 99.04% of the company’s stock.

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.