Shares of Glaukos Corporation (NYSE:GKOS – Get Free Report) fell 4.5% on Wednesday . The company traded as low as $120.30 and last traded at $120.6020. 271,822 shares were traded during mid-day trading, a decline of 69% from the average session volume of 873,276 shares. The stock had previously closed at $126.34.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on GKOS. Needham & Company LLC raised their target price on Glaukos from $127.00 to $136.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Wall Street Zen lowered Glaukos from a “buy” rating to a “hold” rating in a report on Saturday, May 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Glaukos in a report on Tuesday, April 21st. William Blair restated an “outperform” rating on shares of Glaukos in a report on Tuesday, May 26th. Finally, Citigroup raised their target price on Glaukos from $140.00 to $162.00 and gave the company a “buy” rating in a report on Thursday. Twelve investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Glaukos has a consensus rating of “Moderate Buy” and an average target price of $148.00.
Read Our Latest Report on GKOS
Glaukos Stock Up 1.5%
Glaukos (NYSE:GKOS – Get Free Report) last released its earnings results on Wednesday, April 29th. The medical instruments supplier reported ($0.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.12. Glaukos had a negative return on equity of 6.92% and a negative net margin of 34.34%.The business had revenue of $150.57 million during the quarter, compared to the consensus estimate of $137.00 million. During the same period last year, the business posted ($0.22) earnings per share. The business’s revenue for the quarter was up 41.2% on a year-over-year basis. Sell-side analysts anticipate that Glaukos Corporation will post -0.57 EPS for the current year.
Insider Transactions at Glaukos
In other Glaukos news, COO Joseph E. Gilliam sold 19,573 shares of the firm’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $143.54, for a total value of $2,809,508.42. Following the completion of the sale, the chief operating officer directly owned 73,419 shares of the company’s stock, valued at $10,538,563.26. This trade represents a 21.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Leana Wen sold 1,700 shares of Glaukos stock in a transaction on Friday, May 1st. The shares were sold at an average price of $143.35, for a total value of $243,695.00. Following the completion of the transaction, the director owned 19,739 shares of the company’s stock, valued at approximately $2,829,585.65. This trade represents a 7.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 45,930 shares of company stock valued at $6,321,363. Corporate insiders own 5.90% of the company’s stock.
Hedge Funds Weigh In On Glaukos
Several hedge funds have recently made changes to their positions in GKOS. Janus Henderson Group PLC grew its position in shares of Glaukos by 77.2% in the first quarter. Janus Henderson Group PLC now owns 5,348,395 shares of the medical instruments supplier’s stock valued at $575,844,000 after purchasing an additional 2,329,608 shares in the last quarter. Primecap Management Co. CA grew its position in shares of Glaukos by 49.8% in the fourth quarter. Primecap Management Co. CA now owns 3,376,928 shares of the medical instruments supplier’s stock valued at $381,289,000 after purchasing an additional 1,123,140 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Glaukos by 209.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,350,425 shares of the medical instruments supplier’s stock valued at $152,476,000 after purchasing an additional 913,458 shares in the last quarter. Millennium Management LLC grew its position in shares of Glaukos by 75.3% in the fourth quarter. Millennium Management LLC now owns 1,609,699 shares of the medical instruments supplier’s stock valued at $181,751,000 after purchasing an additional 691,289 shares in the last quarter. Finally, UBS Group AG grew its position in shares of Glaukos by 316.0% in the fourth quarter. UBS Group AG now owns 873,942 shares of the medical instruments supplier’s stock valued at $98,677,000 after purchasing an additional 663,849 shares in the last quarter. 99.04% of the stock is currently owned by hedge funds and other institutional investors.
Glaukos Company Profile
Glaukos Corporation is a medical technology company specializing in the development, manufacturing and commercialization of innovative therapies for patients with glaucoma and other chronic eye diseases. The company’s core offerings focus on micro-invasive glaucoma surgery (MIGS), designed to reduce intraocular pressure and manage glaucoma more safely and effectively than traditional surgical approaches. Glaukos’s flagship products include the iStent, iStent inject and iStent infinite trabecular micro-bypass stents, which are implanted during cataract surgery to improve aqueous outflow and help control eye pressure.
Beyond its MIGS portfolio, Glaukos has expanded into sustained drug-delivery solutions.
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