Glaukos (NYSE:GKOS) Stock Rating Lowered by Morgan Stanley

Morgan Stanley downgraded shares of Glaukos (NYSE:GKOS) from an equal weight rating to an underweight rating in a research report sent to investors on Monday morning, Marketbeat Ratings reports. They currently have $120.00 target price on the medical instruments supplier’s stock.

Several other research firms have also recently weighed in on GKOS. StockNews.com raised Glaukos from a “sell” rating to a “hold” rating in a research report on Monday, October 21st. BTIG Research upped their price objective on Glaukos from $140.00 to $149.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. JPMorgan Chase & Co. upped their price objective on Glaukos from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Truist Financial upped their price objective on Glaukos from $145.00 to $152.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Finally, Piper Sandler set a $140.00 price objective on Glaukos in a research report on Thursday, October 17th. 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 stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $136.18.

Glaukos Stock Up 1.7 %

NYSE:GKOS opened at $138.27 on Monday. Glaukos has a 1 year low of $59.58 and a 1 year high of $146.86. The company has a current ratio of 5.54, a quick ratio of 4.71 and a debt-to-equity ratio of 0.19. The stock has a market cap of $7.62 billion, a price-to-earnings ratio of -45.78 and a beta of 1.03. The stock has a 50-day moving average price of $134.76 and a two-hundred day moving average price of $125.44.

Glaukos (NYSE:GKOS) last posted its earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share (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 during the quarter, compared to analysts’ expectations of $91.50 million. During the same period in the previous year, the firm earned ($0.50) earnings per share. The company’s revenue was up 23.9% on a year-over-year basis. As a group, equities analysts expect that Glaukos will post -1.91 earnings per share for the current year.

Insider Buying and Selling at Glaukos

In other Glaukos news, COO Joseph E. Gilliam sold 2,275 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $138.97, for a total value of $316,156.75. Following the sale, the chief operating officer now owns 102,169 shares in the company, valued at $14,198,425.93. This represents a 2.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gilbert H. Kliman sold 3,000 shares of the company’s stock in a transaction that occurred 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 owns 32,336 shares in the company, valued at $4,225,345.12. This represents a 8.49 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Glaukos

A number of large investors have recently made changes to their positions in GKOS. Values First Advisors Inc. bought a new position in shares of Glaukos during the third quarter worth approximately $25,000. Harvest Fund Management Co. Ltd increased its stake in shares of Glaukos by 2,263.2% during the third quarter. Harvest Fund Management Co. Ltd now owns 898 shares of the medical instruments supplier’s stock worth $117,000 after purchasing an additional 860 shares during the period. GAMMA Investing LLC increased its stake in shares of Glaukos by 68.8% during the second quarter. GAMMA Investing LLC now owns 1,192 shares of the medical instruments supplier’s stock worth $141,000 after purchasing an additional 486 shares during the period. Fifth Third Wealth Advisors LLC bought a new position in shares of Glaukos during the second quarter worth approximately $187,000. Finally, KBC Group NV increased its stake in shares of 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 purchasing an additional 201 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.