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

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

A number of other equities analysts also recently issued reports on GKOS. Piper Sandler set a $140.00 price objective on shares of Glaukos in a report on Thursday, October 17th. Truist Financial upped their price objective on shares of Glaukos from $145.00 to $152.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Stifel Nicolaus lifted their target price on shares of Glaukos from $130.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. BTIG Research upped their target price on Glaukos from $140.00 to $149.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, StockNews.com upgraded Glaukos from a “sell” rating to a “hold” rating in a report on Monday, October 21st. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, Glaukos presently has an average rating of “Moderate Buy” and a consensus target price of $136.18.

Glaukos Stock Down 3.2 %

Shares of NYSE:GKOS opened at $139.07 on Monday. The business’s 50-day moving average is $134.36 and its 200-day moving average is $125.16. Glaukos has a 1 year low of $59.58 and a 1 year high of $146.86. The company has a market capitalization of $7.67 billion, a price-to-earnings ratio of -46.05 and a beta of 1.02. The company has a debt-to-equity ratio of 0.19, a current ratio of 5.54 and a quick ratio of 4.71.

Glaukos (NYSE:GKOS) last announced its quarterly earnings data on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.48) by $0.20. Glaukos had a negative net margin of 42.43% and a negative return on equity of 18.99%. The firm had revenue of $96.70 million for the quarter, compared to analyst estimates of $91.50 million. During the same quarter in the prior year, the business earned ($0.50) earnings per share. The business’s quarterly revenue was up 23.9% compared to the same quarter last year. Equities research analysts predict that Glaukos will post -1.91 earnings per share for the current year.

Insider Activity

In related 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 position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Gilbert H. Kliman sold 3,000 shares of the stock in a transaction on Monday, September 9th. The stock was 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 directly owns 32,336 shares in the company, valued at approximately $4,225,345.12. This represents a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Glaukos

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GKOS. HighTower Advisors LLC grew its stake in shares of 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 acquiring an additional 103 shares during the period. EFG Asset Management North America Corp. grew its position in Glaukos by 0.5% in 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 purchasing an additional 128 shares during the period. Values First Advisors Inc. purchased a new stake in Glaukos during the 3rd quarter valued at $25,000. New York State Teachers Retirement System lifted its holdings 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 buying an additional 200 shares during the period. Finally, KBC Group NV lifted its holdings in shares of Glaukos by 16.2% during the 3rd quarter. KBC Group NV now owns 1,445 shares of the medical instruments supplier’s stock valued at $188,000 after buying an additional 201 shares during the period. 99.04% of the stock is owned by institutional investors.

About Glaukos

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.