Glaukos (NYSE:GKOS) Downgraded to Neutral at Citigroup

Citigroup lowered its shares by Glaukos (NYSE:GKOS – Free Report) from a buy rating to a neutral rating in a research note issued on Wednesday, MarketBeat Ratings reports. They now have a $132.00 price target for shares of the medical instruments supplier, up from the previous price target of $130.00.

Other analysts have also issued research reports on the company. BTIG Research raised their price target for Glaukos from $107.00 to $112.00 and gave the stock a buy rating in a report on Thursday, May 2. Stifel Nicolaus raised their price target for Glaukos from $110.00 to $130.00 and gave the stock a buy rating in a report on Wednesday, June 5. Jefferies Financial Group raised their rating for Glaukos from a “hold” to a “buy” and raised their price target for the stock from $84.00 to $125.00 in a report on Monday, May 6. JPMorgan Chase & Co. raised their price target for Glaukos from $108.00 to $110.00 and gave the stock an “overweight” rating in a report on Thursday, May 2. Finally, Needham & Company LLC raised their price target on Glaukos from $108.00 to $113.00 and gave the stock a buy rating in a report on Thursday, May 2. Four equities research analysts rated the stock a hold, while eight gave the company a buy rating. Glaukos has a consensus rating of “Moderate Buy” and an average price target of $112.45, based on data from MarketBeat.com.

Check out our latest analysis of GKOS shares

Glaukos shares fall 1.3%

Shares of NYSE GKOS opened at $120.13 on Wednesday. The company has a debt-to-equity ratio of 0.78, a current ratio of 4.68 and a quick ratio of 5.38. The company has a market capitalization of $6.05 billion, a price-to-earnings ratio of -41.71, and a beta of 1.06. The stock has a 50-day moving average price of $112.58 and a 200-day moving average price of $98.45. Glaukos has a 52-week low of $59.22 and a 52-week high of $123.54.

Glaukos (NYSE:GKOS – Get Free Report) last announced its quarterly financial results on Wednesday, May 1. The medical instrument supplier reported ($0.70) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.12). The company had revenue of $85.60 million for the quarter, compared to analysts’ expectations of $79.60 million. Glaukos had a negative net margin of 43.15% and a negative return on equity of 24.69%. The company’s revenue for the quarter increased by 15.8% year-over-year. In the same quarter last year, the company reported ($0.59) EPS. Sell-side analysts expect Glaukos to post -2.24 EPS for the current year.

Internal activity in Glaukos

In related news, COO Joseph E. Gilliam sold 2,250 shares of the company’s stock in a transaction on Friday, July 5. The shares were sold at an average price of $121.39, for a total value of $273,127.50. Following the transaction, the COO now directly owns 101,845 shares of the company’s stock, valued at approximately $12,362,964.55. The transaction was disclosed in legal documents filed with the SEC, which are available through this hyperlink . In other Glaukos news, CFO Alex R. Thurman sold 442 shares of the company’s stock in a transaction dated Thursday, May 2. The shares were sold at an average price of $105.69, for a total value of $46,714.98. Following the sale, the CFO now directly owns 52,090 shares of the company’s stock, valued at approximately $5,505,392.10. The sale was disclosed in legal documents filed with the Securities and Exchange Commission, which are available on the SEC website. Additionally, COO Joseph E. Gilliam sold 2,250 shares of the company’s stock in a transaction dated Friday, July 5. The shares were sold for an average price of $121.39, for a total value of $273,127.50. Following the sale, the COO now directly owns 101,845 shares of the company’s stock, valued at $12,362,964.55. Disclosure of that sale can be found here. Insiders have sold a total of 21,444 shares of the company’s stock valued at $2,411,171 over the last ninety days. Company insiders own 6.40% of the company’s stock.

Institutional investors rate Glaukos

Hedge funds and other institutional investors have recently added to or reduced their holdings in the stock. Dimensional Fund Advisors LP increased its position in Glaukos by 3.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 923,526 shares of the medical instruments supplier’s stock worth $73,412,000 after purchasing an additional 31,213 shares during the period. Jump Financial LLC increased its holdings in shares of Glaukos by 513.3% in the fourth quarter. Jump Financial LLC now owns 47,589 shares of the medical instruments supplier’s stock worth $3,783,000 after purchasing an additional 39,829 shares in the last quarter. Norges Bank acquired a new stake in Glaukos shares in the fourth quarter worth approximately $28,807,000. Nomura Holdings Inc. increased its holdings in shares of Glaukos by 3.2% in the 4th quarter. Nomura Holdings Inc. now owns 232,034 shares of the medical instruments supplier’s stock valued at $18,444,000 after acquiring an additional 7,146 shares in the last quarter. Finally, Jennison Associates LLC bought a new stake in Glaukos in the 4th quarter valued at approximately $608,000. 99.04% of the stock is owned by institutional investors and hedge funds.

Glaukos Company Profile

(Download the free report)

Glaukos Corporation, a pharmaceutical and medical device company focused on ophthalmology, focuses on developing novel therapies for the treatment of glaucoma, corneal diseases and retinal diseases. It offers the iStent and iStent inject W micro-bypass stents, which enhance the outflow of aqueous humor implanted during cataract surgery to treat mild to moderate open-angle glaucoma.

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