Several other brokerages have also issued reports on GKOS. Zacks Investment Research raised Glaukos from a “sell” rating to a “hold” rating and set a $76.00 target price for the company in a research note on Thursday, September 12th. JPMorgan Chase & Co. set a $90.00 target price on Glaukos and gave the stock a “buy” rating in a research note on Thursday, October 10th. Bank of America lowered Glaukos from a “buy” rating to an “underperform” rating and set a $67.00 target price for the company. in a research note on Monday, September 30th. Finally, BTIG Research reissued a “hold” rating on shares of Glaukos in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $74.75.
Shares of GKOS traded down $1.49 during midday trading on Friday, hitting $59.61. 416,314 shares of the company traded hands, compared to its average volume of 431,731. Glaukos has a one year low of $50.60 and a one year high of $84.65. The company has a debt-to-equity ratio of 0.42, a current ratio of 6.32 and a quick ratio of 5.94. The firm has a market cap of $2.23 billion, a P/E ratio of -161.11 and a beta of 1.66. The stock has a 50-day moving average of $63.40 and a 200-day moving average of $67.85.
Glaukos (NYSE:GKOS) last issued its quarterly earnings data on Wednesday, November 6th. The medical instruments supplier reported ($0.10) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.17) by $0.07. The company had revenue of $58.51 million during the quarter, compared to analyst estimates of $56.96 million. Glaukos had a negative return on equity of 4.01% and a negative net margin of 8.60%. Glaukos’s revenue was up 33.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.17) earnings per share. Sell-side analysts forecast that Glaukos will post -0.35 EPS for the current fiscal year.
In related news, CFO Joseph E. Gilliam sold 4,631 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $59.75, for a total transaction of $276,702.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders have sold 10,881 shares of company stock valued at $716,702. 8.70% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. Harvest Fund Management Co. Ltd purchased a new position in shares of Glaukos in the 2nd quarter worth approximately $39,000. Marshall Wace North America L.P. purchased a new position in shares of Glaukos in the 1st quarter worth approximately $55,000. NEXT Financial Group Inc boosted its holdings in shares of Glaukos by 73.7% in the 2nd quarter. NEXT Financial Group Inc now owns 1,129 shares of the medical instruments supplier’s stock worth $85,000 after purchasing an additional 479 shares during the period. First Quadrant L P CA purchased a new position in shares of Glaukos in the 2nd quarter worth approximately $86,000. Finally, Meeder Asset Management Inc. boosted its holdings in shares of Glaukos by 144.2% in the 2nd quarter. Meeder Asset Management Inc. now owns 1,509 shares of the medical instruments supplier’s stock worth $114,000 after purchasing an additional 891 shares during the period.
Glaukos Company Profile
Glaukos Corporation, an ophthalmic medical technology and pharmaceutical company, focuses on the development and commercialization of surgical devices and sustained pharmaceutical therapies designed to treat glaucoma. It offers iStent, a micro-bypass stent for insertion in conjunction with cataract surgery for the reduction of intraocular pressure in adult patients with mild-to-moderate open-angle glaucoma; and iStent inject trabecular micro-bypass stent that allows the surgeon to inject stents into various trabecular meshwork locations through a single corneal entry for the reduction of intraocular pressure in mild-to-moderate open-angle glaucoma in combination with cataract surgery.
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