Glaukos (NYSE:GKOS) Shares Down 9.8% – Time to Sell?

Glaukos Co. (NYSE:GKOS) fell 9.8% during trading on Monday . The company traded as low as $94.60 and last traded at $94.00. 661,123 shares traded hands during trading, a decline of 16% from the average session volume of 791,675 shares. The stock had previously closed at $104.19.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on GKOS. Stifel Nicolaus raised their price target on Glaukos from $153.00 to $175.00 and gave the company a “buy” rating in a report on Tuesday, December 31st. BTIG Research raised their target price on Glaukos from $140.00 to $149.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Mizuho upgraded shares of Glaukos from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $140.00 to $200.00 in a research report on Wednesday, February 19th. Needham & Company LLC raised their price objective on shares of Glaukos from $149.00 to $176.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Finally, Morgan Stanley lowered shares of Glaukos from an “equal weight” rating to an “underweight” rating and set a $120.00 target price on the stock. in a research report on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $163.25.

Glaukos Stock Up 5.1 %

The business’s fifty day simple moving average is $143.84 and its 200 day simple moving average is $138.41. The stock has a market cap of $5.75 billion, a price-to-earnings ratio of -35.38 and a beta of 0.99. The company has a current ratio of 5.54, a quick ratio of 4.71 and a debt-to-equity ratio of 0.19.

Glaukos (NYSE:GKOS) last announced its quarterly earnings data 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). The company had revenue of $105.50 million for the quarter, compared to analyst estimates of $100.72 million. Glaukos had a negative return on equity of 16.53% and a negative net margin of 39.04%. Equities analysts forecast that Glaukos Co. will post -1.08 earnings per share for the current fiscal year.

Insider Transactions at Glaukos

In other news, Director Gilbert H. Kliman sold 10,000 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $150.28, for a total transaction of $1,502,800.00. Following the completion of the transaction, the director now directly owns 32,336 shares of the company’s stock, valued at $4,859,454.08. This represents a 23.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Tomas Navratil sold 3,416 shares of Glaukos stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $147.14, for a total value of $502,630.24. Following the completion of the sale, the insider now directly owns 72,437 shares in the company, valued at approximately $10,658,380.18. This represents a 4.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,744 shares of company stock valued at $2,504,131 over the last three months. 6.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GKOS. IFP Advisors Inc bought a new stake in shares of Glaukos during the 4th quarter worth approximately $43,000. Asset Planning Inc acquired a new stake in Glaukos during the 4th quarter valued at $90,000. CoreCap Advisors LLC boosted its position in Glaukos by 36.4% during the fourth quarter. CoreCap Advisors LLC now owns 750 shares of the medical instruments supplier’s stock worth $112,000 after purchasing an additional 200 shares during the period. Harvest Fund Management Co. Ltd raised its position in shares of Glaukos by 2,263.2% in the third quarter. Harvest Fund Management Co. Ltd now owns 898 shares of the medical instruments supplier’s stock valued at $117,000 after purchasing an additional 860 shares during the period. Finally, Picton Mahoney Asset Management acquired a new stake in shares of Glaukos during the 4th quarter worth about $125,000. 99.04% of the stock is owned by institutional investors and hedge funds.

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.