Glaukos (NYSE:GKOS) Shares Gap Down on Disappointing Earnings

Shares of Glaukos Co. (NYSE:GKOS) gapped down before the market opened on Friday following a dissappointing earnings announcement. The stock had previously closed at $157.36, but opened at $141.35. Glaukos shares last traded at $139.40, with a volume of 991,896 shares changing hands.

The medical instruments supplier reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.02). The company had revenue of $105.50 million during the quarter, compared to the consensus estimate of $100.72 million. Glaukos had a negative return on equity of 18.99% and a negative net margin of 42.43%.

Analysts Set New Price Targets

A number of research firms recently weighed in on GKOS. BTIG Research upped their price objective on shares of Glaukos from $140.00 to $149.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Citigroup raised shares of Glaukos from a “neutral” rating to a “buy” rating and increased their price target for the company from $132.00 to $162.00 in a research report on Wednesday, December 11th. Stephens raised shares of Glaukos to a “strong-buy” rating in a research report on Monday, December 2nd. Stifel Nicolaus increased their price target on shares of Glaukos from $153.00 to $175.00 and gave the company a “buy” rating in a research report on Tuesday, December 31st. Finally, Needham & Company LLC upped their price objective on shares of Glaukos from $149.00 to $176.00 and gave the company a “buy” rating in a report on Friday. One research analyst has rated the stock with a sell rating, one has given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Glaukos presently has an average rating of “Moderate Buy” and a consensus price target of $163.25.

Insider Transactions at Glaukos

In other Glaukos news, insider Tomas Navratil sold 3,416 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $147.14, for a total value of $502,630.24. Following the transaction, the insider now owns 72,437 shares in the company, valued at approximately $10,658,380.18. This trade represents a 4.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Gilbert H. Kliman sold 2,000 shares of the firm’s stock in a transaction on 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. The trade was 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 valued at $2,792,151 in the last 90 days. 6.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Glaukos by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 5,974,971 shares of the medical instruments supplier’s stock worth $895,887,000 after acquiring an additional 101,838 shares during the period. Wellington Management Group LLP grew its position in Glaukos by 294.5% in the 3rd quarter. Wellington Management Group LLP now owns 2,183,766 shares of the medical instruments supplier’s stock valued at $284,501,000 after acquiring an additional 1,630,270 shares in the last quarter. State Street Corp grew its position in Glaukos by 5.3% in the 3rd quarter. State Street Corp now owns 1,954,449 shares of the medical instruments supplier’s stock valued at $254,626,000 after acquiring an additional 98,109 shares in the last quarter. Invesco Ltd. grew its position in Glaukos by 4.9% in the 4th quarter. Invesco Ltd. now owns 1,458,635 shares of the medical instruments supplier’s stock valued at $218,708,000 after acquiring an additional 68,310 shares in the last quarter. Finally, Primecap Management Co. CA grew its position in Glaukos by 2.0% in the 3rd quarter. Primecap Management Co. CA now owns 1,245,185 shares of the medical instruments supplier’s stock valued at $162,223,000 after acquiring an additional 24,370 shares in the last quarter. Hedge funds and other institutional investors own 99.04% of the company’s stock.

Glaukos Stock Down 19.9 %

The firm has a 50 day moving average price of $152.75 and a 200-day moving average price of $139.25. 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 firm has a market cap of $6.95 billion, a PE ratio of -41.73 and a beta of 1.04.

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.