Glaukos (NYSE:GKOS) Trading Down 6.3% – Here’s What Happened

Shares of Glaukos Co. (NYSE:GKOS) fell 6.3% on Monday . The stock traded as low as $112.13 and last traded at $112.43. 148,654 shares were traded during mid-day trading, a decline of 79% from the average session volume of 716,805 shares. The stock had previously closed at $120.02.

Wall Street Analyst Weigh In

Several research firms have commented on GKOS. Stifel Nicolaus raised their target price on shares of Glaukos from $153.00 to $175.00 and gave the company a “buy” rating in a research note on Tuesday, December 31st. Wells Fargo & Company raised their price objective on shares of Glaukos from $153.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. BTIG Research upped their target price on Glaukos from $140.00 to $149.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Citigroup raised Glaukos from a “neutral” rating to a “buy” rating and raised their target price for the company from $132.00 to $162.00 in a research note on Wednesday, December 11th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Glaukos from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Glaukos has an average rating of “Moderate Buy” and an average price target of $163.25.

Glaukos Stock Performance

The firm’s 50 day simple moving average is $150.22 and its 200-day simple moving average is $139.55. The company has a market capitalization of $6.17 billion, a price-to-earnings ratio of -38.02 and a beta of 1.04. 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 issued its quarterly earnings results on Thursday, February 20th. The medical instruments supplier reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.02). The business had revenue of $105.50 million for the quarter, compared to analysts’ expectations of $100.72 million. Glaukos had a negative net margin of 39.04% and a negative return on equity of 16.53%. Analysts expect that Glaukos Co. will post -1.08 EPS for the current year.

Insider Activity

In related news, insider Tomas Navratil sold 3,416 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $147.14, for a total transaction of $502,630.24. Following the completion of the sale, the insider now directly owns 72,437 shares in the company, valued at approximately $10,658,380.18. This trade represents a 4.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gilbert H. Kliman sold 2,000 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $144.01, for a total value of $288,020.00. Following the completion of the transaction, the director now owns 32,336 shares in the company, valued at $4,656,707.36. This trade represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,744 shares of company stock worth $2,792,151 in the last 90 days. Company insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Glaukos

Hedge funds and other institutional investors have recently made changes to their positions in the company. IFP Advisors Inc acquired a new position in Glaukos in the fourth quarter worth approximately $43,000. Asset Planning Inc bought a new stake in Glaukos in the fourth quarter worth approximately $90,000. CoreCap Advisors LLC increased its stake in shares of Glaukos by 36.4% during the 4th quarter. CoreCap Advisors LLC now owns 750 shares of the medical instruments supplier’s stock worth $112,000 after purchasing an additional 200 shares during the last quarter. Harvest Fund Management Co. Ltd raised its holdings in shares of Glaukos by 2,263.2% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 898 shares of the medical instruments supplier’s stock valued at $117,000 after purchasing an additional 860 shares in the last quarter. Finally, Picton Mahoney Asset Management acquired a new stake in shares of Glaukos in the 4th quarter valued at $125,000. 99.04% of the stock is 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.