Glaukos (NYSE:GKOS) Sets New 52-Week Low – Here’s What Happened

Glaukos Co. (NYSE:GKOS)’s stock price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $88.75 and last traded at $90.15, with a volume of 473789 shares trading hands. The stock had previously closed at $100.04.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GKOS. Wells Fargo & Company increased their target price on Glaukos from $153.00 to $160.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Stifel Nicolaus increased their price objective on Glaukos from $153.00 to $175.00 and gave the company a “buy” rating in a research report on Tuesday, December 31st. UBS Group assumed coverage on Glaukos in a research report on Friday, December 6th. They issued a “buy” rating and a $182.00 target price for the company. Needham & Company LLC raised their price target on shares of Glaukos from $149.00 to $176.00 and gave the company a “buy” rating in a report on Friday, February 21st. Finally, Citigroup raised shares of Glaukos from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $132.00 to $162.00 in a report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Glaukos currently has an average rating of “Moderate Buy” and an average price target of $163.25.

Glaukos Stock Down 3.9 %

The company’s 50 day moving average price is $123.88 and its two-hundred day moving average price is $134.52. 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 $4.73 billion, a PE ratio of -29.14 and a beta of 0.99.

Glaukos (NYSE:GKOS) last announced its earnings results on Thursday, February 20th. The medical instruments supplier reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.02). Glaukos had a negative return on equity of 16.53% and a negative net margin of 39.04%. The company had revenue of $105.50 million during the quarter, compared to the consensus estimate of $100.72 million. On average, equities research analysts expect that Glaukos Co. will post -1.08 EPS for the current fiscal year.

Insider Activity at Glaukos

In related news, CFO Alex R. Thurman sold 1,520 shares of Glaukos stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $106.84, for a total transaction of $162,396.80. Following the transaction, the chief financial officer now owns 53,431 shares in the company, valued at approximately $5,708,568.04. The trade was a 2.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Tomas Navratil sold 3,416 shares of the company’s 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 transaction, the insider now directly owns 72,437 shares of the company’s stock, valued at $10,658,380.18. This represents a 4.50 % decrease in their position. The disclosure for this sale can be found here. 6.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Glaukos

Several institutional investors have recently made changes to their positions in GKOS. State of Wyoming boosted its stake in Glaukos by 2.3% in the 4th quarter. State of Wyoming now owns 3,245 shares of the medical instruments supplier’s stock worth $487,000 after purchasing an additional 72 shares during the period. Quadrant Capital Group LLC raised its position in shares of Glaukos by 3.3% during the fourth quarter. Quadrant Capital Group LLC now owns 2,300 shares of the medical instruments supplier’s stock valued at $345,000 after buying an additional 73 shares during the last quarter. Mutual of America Capital Management LLC lifted its holdings in shares of Glaukos by 1.1% in the fourth quarter. Mutual of America Capital Management LLC now owns 8,353 shares of the medical instruments supplier’s stock worth $1,252,000 after buying an additional 89 shares in the last quarter. HighTower Advisors LLC boosted its position in shares of Glaukos by 2.8% during the fourth quarter. HighTower Advisors LLC now owns 3,298 shares of the medical instruments supplier’s stock worth $495,000 after acquiring an additional 91 shares during the last quarter. Finally, Louisiana State Employees Retirement System grew its stake in Glaukos by 0.4% during the fourth quarter. Louisiana State Employees Retirement System now owns 26,700 shares of the medical instruments supplier’s stock valued at $4,003,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 99.04% of the company’s stock.

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.