Glaukos (NYSE:GKOS) Downgraded by Morgan Stanley to “Underweight”

Glaukos (NYSE:GKOS) was downgraded by investment analysts at Morgan Stanley from an “equal weight” rating to an “underweight” rating in a research report issued on Monday, Marketbeat Ratings reports. They presently have a $120.00 price target on the medical instruments supplier’s stock. Morgan Stanley’s price objective would suggest a potential downside of 16.46% from the company’s current price.

Other research analysts also recently issued reports about the stock. Wells Fargo & Company upped their price target on shares of Glaukos from $135.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Truist Financial upped their target price on Glaukos from $145.00 to $152.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Stifel Nicolaus lifted their price target on Glaukos from $130.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. BTIG Research upped their price objective on Glaukos from $140.00 to $149.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, StockNews.com upgraded shares of Glaukos from a “sell” rating to a “hold” rating in a report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $135.45.

Glaukos Price Performance

Shares of GKOS stock opened at $143.65 on Monday. The business has a fifty day simple moving average of $134.13 and a 200 day simple moving average of $124.96. The company has a market cap of $7.92 billion, a P/E ratio of -47.57 and a beta of 1.02. The company has a quick ratio of 4.71, a current ratio of 5.54 and a debt-to-equity ratio of 0.19. Glaukos has a twelve month low of $59.58 and a twelve month high of $146.86.

Glaukos (NYSE:GKOS) last announced its quarterly earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.48) by $0.20. The company had revenue of $96.70 million for the quarter, compared to analyst estimates of $91.50 million. Glaukos had a negative net margin of 42.43% and a negative return on equity of 18.99%. The firm’s revenue was up 23.9% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.50) EPS. On average, sell-side analysts forecast that Glaukos will post -1.91 EPS for the current fiscal year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Glaukos

Institutional investors and hedge funds have recently made changes to their positions in the business. HighTower Advisors LLC increased its holdings in Glaukos by 3.3% in the third quarter. HighTower Advisors LLC now owns 3,207 shares of the medical instruments supplier’s stock worth $416,000 after purchasing an additional 103 shares in the last quarter. EFG Asset Management North America Corp. grew its position in shares of 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 buying an additional 128 shares during the period. Values First Advisors Inc. bought a new stake in shares of Glaukos in the 3rd quarter valued at $25,000. New York State Teachers Retirement System lifted its position in shares of Glaukos by 0.4% during the 3rd 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 acquiring an additional 200 shares during the period. Finally, KBC Group NV boosted its stake in Glaukos by 16.2% during the third quarter. KBC Group NV now owns 1,445 shares of the medical instruments supplier’s stock worth $188,000 after acquiring an additional 201 shares in 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.