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

Glaukos Co. (NYSE:GKOS)’s share price 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.

Analyst Upgrades and Downgrades

GKOS has been the subject of several recent research reports. Stifel Nicolaus lifted their price target on Glaukos from $130.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Truist Financial boosted their target price on shares of Glaukos from $145.00 to $152.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Citigroup lowered shares of Glaukos from a “buy” rating to a “neutral” rating and raised their price target for the company from $130.00 to $132.00 in a research report on Wednesday, July 10th. Needham & Company LLC increased their target price on shares of Glaukos from $131.00 to $137.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Wells Fargo & Company lifted their price target on Glaukos from $135.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Glaukos currently has a consensus rating of “Moderate Buy” and an average target price of $134.55.

Glaukos Price Performance

The company has a quick ratio of 4.67, a current ratio of 5.48 and a debt-to-equity ratio of 0.19. The company has a 50 day moving average of $129.59 and a 200 day moving average of $120.34.

Glaukos (NYSE:GKOS) last posted its quarterly earnings results 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. The firm had revenue of $96.70 million for the quarter, compared to the consensus estimate of $91.50 million. Glaukos had a negative net margin of 42.43% and a negative return on equity of 20.28%. The company’s revenue for the quarter was up 23.9% on a year-over-year basis. During the same period last year, the firm posted ($0.50) earnings per share. On average, sell-side analysts forecast that Glaukos Co. will post -2.16 earnings per share for the current year.

Insider Activity

In other news, Director Marc Stapley sold 6,250 shares of Glaukos stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $125.93, for a total transaction of $787,062.50. Following the transaction, the director now owns 34,076 shares in the company, valued at $4,291,190.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Glaukos news, COO Joseph E. Gilliam sold 5,000 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $129.36, for a total transaction of $646,800.00. Following the completion of the sale, the chief operating officer now owns 102,169 shares of the company’s stock, valued at $13,216,581.84. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Marc Stapley sold 6,250 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $125.93, for a total value of $787,062.50. Following the completion of the transaction, the director now directly owns 34,076 shares in the company, valued at approximately $4,291,190.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,525 shares of company stock worth $2,142,029 over the last ninety days. Corporate insiders own 6.40% of the company’s stock.

Institutional Trading of Glaukos

Institutional investors and hedge funds have recently bought and sold shares of the stock. Assenagon Asset Management S.A. purchased a new stake in shares of Glaukos in the 2nd quarter valued at approximately $6,832,000. Natixis purchased a new stake in Glaukos in the first quarter valued at approximately $614,000. Vanguard Group Inc. lifted its stake in Glaukos by 1.4% during the first quarter. Vanguard Group Inc. now owns 5,308,897 shares of the medical instruments supplier’s stock worth $500,576,000 after purchasing an additional 72,159 shares in the last quarter. UniSuper Management Pty Ltd purchased a new position in shares of Glaukos during the first quarter worth $913,000. Finally, Duality Advisers LP acquired a new stake in shares of Glaukos in the first quarter valued at $3,476,000. 99.04% of the stock is currently owned by hedge funds and other institutional investors.

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.