Citigroup Downgrades Glaukos (NYSE:GKOS) to Neutral

Glaukos (NYSE:GKOS) was downgraded by equities research analysts at Citigroup from a “buy” rating to a “neutral” rating in a note issued to investors on Wednesday, Marketbeat Ratings reports. They currently have a $132.00 price target on the medical instruments supplier’s stock, up from their prior price target of $130.00. Citigroup’s target price indicates a potential upside of 7.11% from the company’s current price.

A number of other equities analysts also recently issued reports on the company. StockNews.com upgraded Glaukos from a “sell” rating to a “hold” rating in a report on Friday, July 5th. Wells Fargo & Company lifted their price target on shares of Glaukos from $110.00 to $120.00 and gave the company an “overweight” rating in a research report on Monday, June 3rd. JPMorgan Chase & Co. upped their price objective on shares of Glaukos from $108.00 to $110.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. BTIG Research lifted their target price on shares of Glaukos from $107.00 to $112.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Finally, Stifel Nicolaus boosted their price target on Glaukos from $110.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, June 5th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Glaukos currently has a consensus rating of “Moderate Buy” and a consensus price target of $112.45.

Glaukos Trading Up 2.6 %

Shares of GKOS opened at $123.24 on Wednesday. Glaukos has a 1-year low of $59.22 and a 1-year high of $123.56. The company has a current ratio of 5.38, a quick ratio of 4.68 and a debt-to-equity ratio of 0.78. The firm’s 50-day moving average price is $112.94 and its 200-day moving average price is $98.63. The firm has a market capitalization of $6.21 billion, a price-to-earnings ratio of -42.79 and a beta of 1.06.

Glaukos (NYSE:GKOS) last posted its quarterly earnings data on Wednesday, May 1st. The medical instruments supplier reported ($0.70) earnings per share for the quarter, missing the consensus estimate of ($0.58) by ($0.12). Glaukos had a negative net margin of 43.15% and a negative return on equity of 24.69%. The firm had revenue of $85.60 million for the quarter, compared to the consensus estimate of $79.60 million. During the same period in the previous year, the firm posted ($0.59) earnings per share. The business’s revenue was up 15.8% compared to the same quarter last year. Sell-side analysts anticipate that Glaukos will post -2.24 EPS for the current year.

Insider Transactions at Glaukos

In related news, COO Joseph E. Gilliam sold 2,250 shares of the stock in a transaction on Friday, July 5th. The stock was sold at an average price of $121.39, for a total transaction of $273,127.50. Following the sale, the chief operating officer now directly owns 101,845 shares of the company’s stock, valued at $12,362,964.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other 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 transaction of $39,010.03. Following the transaction, the chief financial officer now directly owns 51,647 shares of the company’s stock, valued at approximately $5,707,509.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Joseph E. Gilliam sold 2,250 shares of the firm’s stock in a transaction on Friday, July 5th. The stock was 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 $12,362,964.55. The disclosure for this sale can be found here. Insiders sold 21,444 shares of company stock worth $2,411,171 over the last quarter. 6.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Harbor Capital Advisors Inc. increased its position in shares of Glaukos by 34.0% during the 4th quarter. Harbor Capital Advisors Inc. now owns 27,306 shares of the medical instruments supplier’s stock valued at $2,171,000 after purchasing an additional 6,922 shares during the last quarter. Trust Point Inc. bought a new position in Glaukos in the fourth quarter worth approximately $555,000. International Assets Investment Management LLC purchased a new position in shares of Glaukos during the 4th quarter worth $259,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Glaukos by 2.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,542 shares of the medical instruments supplier’s stock valued at $1,951,000 after acquiring an additional 610 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Glaukos by 3,894.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 72,978 shares of the medical instruments supplier’s stock valued at $5,801,000 after acquiring an additional 71,151 shares during the period. 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.