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

Glaukos Co. (NYSE:GKOS)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $143.65, but opened at $140.00. Glaukos shares last traded at $140.80, with a volume of 22,890 shares traded.

Analyst Ratings Changes

Several research firms have commented on GKOS. Truist Financial boosted their target price on Glaukos from $145.00 to $152.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Stifel Nicolaus raised their target price on shares of Glaukos from $145.00 to $153.00 and gave the company a “buy” rating in a research report on Monday. Morgan Stanley cut Glaukos from an “equal weight” rating to an “underweight” rating and set a $120.00 price objective for the company. in a report on Monday. Piper Sandler set a $140.00 price target on shares of Glaukos in a research note on Thursday, October 17th. Finally, JPMorgan Chase & Co. lifted their price target on Glaukos from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Glaukos has an average rating of “Moderate Buy” and an average price target of $136.18.

Glaukos Price Performance

The business has a fifty day moving average price of $134.13 and a 200 day moving average price of $124.96. The company has a market cap of $7.78 billion, a price-to-earnings ratio of -47.08 and a beta of 1.02. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.71 and a current ratio of 5.54.

Glaukos (NYSE:GKOS) last announced its quarterly 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 18.99% and a negative net margin of 42.43%. The firm had revenue of $96.70 million for the quarter, compared to analyst estimates of $91.50 million. During the same period last year, the firm posted ($0.50) earnings per share. The business’s revenue for the quarter was up 23.9% on a year-over-year basis. As a group, research analysts anticipate that Glaukos Co. will post -1.91 earnings per share for the current year.

Insider Activity at Glaukos

In other Glaukos news, Director Gilbert H. Kliman sold 3,000 shares of Glaukos stock in a transaction on Monday, September 9th. The shares were sold at an average price of $130.67, for a total value of $392,010.00. Following the completion of the sale, the director now directly owns 32,336 shares of the company’s stock, valued at approximately $4,225,345.12. The trade was a 8.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Joseph E. Gilliam sold 2,275 shares of the stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $138.97, for a total transaction of $316,156.75. Following the transaction, the chief operating officer now directly owns 102,169 shares in the company, valued at $14,198,425.93. This trade represents a 2.18 % decrease in their position. The disclosure for this sale can be found here. 6.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Glaukos

A number of institutional investors have recently modified their holdings of the company. HighTower Advisors LLC increased its stake in Glaukos by 3.3% during the 3rd quarter. HighTower Advisors LLC now owns 3,207 shares of the medical instruments supplier’s stock valued at $416,000 after purchasing an additional 103 shares in the last quarter. EFG Asset Management North America Corp. boosted its holdings in Glaukos by 0.5% during the 2nd quarter. EFG Asset Management North America Corp. now owns 27,205 shares of the medical instruments supplier’s stock worth $3,216,000 after acquiring an additional 128 shares during the last quarter. Values First Advisors Inc. bought a new stake in shares of Glaukos in the 3rd quarter worth $25,000. New York State Teachers Retirement System raised its holdings in shares of Glaukos by 0.4% in the third quarter. New York State Teachers Retirement System now owns 48,143 shares of the medical instruments supplier’s stock valued at $6,272,000 after purchasing an additional 200 shares during the last quarter. Finally, KBC Group NV boosted its holdings in shares of Glaukos by 16.2% during the 3rd quarter. KBC Group NV now owns 1,445 shares of the medical instruments supplier’s stock valued at $188,000 after acquiring an additional 201 shares during the last quarter. 99.04% of the stock is owned by institutional investors and hedge funds.

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.