Glaukos (NYSE:GKOS) Issues Quarterly Earnings Results

Glaukos (NYSE:GKOS) posted its quarterly earnings data on Thursday. The medical instruments supplier reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.02), Zacks reports. Glaukos had a negative net margin of 42.43% and a negative return on equity of 18.99%.

Glaukos Stock Down 1.6 %

Shares of GKOS traded down $2.61 during mid-day trading on Thursday, reaching $157.97. 1,091,593 shares of the stock traded hands, compared to its average volume of 568,425. The stock has a fifty day simple moving average of $152.65 and a 200 day simple moving average of $139.03. Glaukos has a 12-month low of $83.90 and a 12-month high of $163.71. The company has a quick ratio of 4.71, a current ratio of 5.54 and a debt-to-equity ratio of 0.19. The firm has a market cap of $8.71 billion, a price-to-earnings ratio of -52.31 and a beta of 1.04.

Analysts Set New Price Targets

Several brokerages recently commented on GKOS. Wells Fargo & Company upped their price target on shares of Glaukos from $145.00 to $153.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Piper Sandler reaffirmed an “overweight” rating and issued a $180.00 target price (up from $140.00) on shares of Glaukos in a research report on Monday, January 27th. Morgan Stanley cut Glaukos from an “equal weight” rating to an “underweight” rating and set a $120.00 target price on the stock. in a report on Monday, December 2nd. Citigroup upgraded Glaukos from a “neutral” rating to a “buy” rating and upped their price target for the stock from $132.00 to $162.00 in a research note on Wednesday, December 11th. Finally, Stifel Nicolaus lifted their price objective on Glaukos from $153.00 to $175.00 and gave the company a “buy” rating in a research note on Tuesday, December 31st. One investment 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 MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $159.42.

Insider Activity

In other Glaukos news, COO Joseph E. Gilliam sold 3,328 shares of Glaukos stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $149.85, for a total transaction of $498,700.80. Following the sale, the chief operating officer now directly owns 102,169 shares in the company, valued at $15,310,024.65. The trade was a 3.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gilbert H. Kliman sold 2,000 shares of the stock in a transaction that occurred 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 transaction, the director now owns 32,336 shares of the company’s stock, valued at approximately $4,656,707.36. This trade represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,744 shares of company stock worth $2,792,151. 6.40% of the stock is currently owned by company insiders.

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.