ValuEngine Lowers Glaukos (GKOS) to Sell

ValuEngine downgraded shares of Glaukos (NYSE:GKOS) from a hold rating to a sell rating in a research note issued to investors on Friday.

Several other brokerages have also issued reports on GKOS. Cantor Fitzgerald set a $48.00 price target on shares of Glaukos and gave the company a buy rating in a report on Wednesday, December 27th. Stifel Nicolaus lowered their price target on shares of Glaukos from $42.00 to $39.00 and set a buy rating on the stock in a report on Monday, February 26th. Canaccord Genuity lowered their price target on shares of Glaukos from $48.00 to $43.00 and set a buy rating on the stock in a report on Thursday, March 1st. Stephens reissued a buy rating and issued a $36.00 price target on shares of Glaukos in a report on Thursday, March 1st. Finally, William Blair reissued an outperform rating on shares of Glaukos in a report on Thursday, March 1st. Two analysts have rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. Glaukos has a consensus rating of Hold and an average target price of $40.38.

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Shares of GKOS stock opened at $28.84 on Friday. Glaukos has a 1 year low of $23.08 and a 1 year high of $48.89. The firm has a market cap of $959.54, a P/E ratio of 184.13 and a beta of 1.05.

Glaukos (NYSE:GKOS) last announced its earnings results on Wednesday, February 28th. The medical instruments supplier reported $0.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.02. Glaukos had a negative net margin of 0.06% and a positive return on equity of 4.03%. The business had revenue of $41.65 million for the quarter, compared to analyst estimates of $40.83 million. The company’s revenue for the quarter was up 25.6% compared to the same quarter last year. analysts expect that Glaukos will post -0.38 EPS for the current fiscal year.

In other news, Director Jonathan Silverstein sold 464,583 shares of the business’s stock in a transaction on Friday, March 2nd. The shares were sold at an average price of $32.29, for a total value of $15,001,385.07. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Orbimed Advisors Llc sold 836,500 shares of the business’s stock in a transaction on Tuesday, March 6th. The shares were sold at an average price of $32.02, for a total transaction of $26,784,730.00. The disclosure for this sale can be found here. Insiders own 16.40% of the company’s stock.

Several large investors have recently modified their holdings of the company. William Blair Investment Management LLC boosted its stake in shares of Glaukos by 7.5% in the 4th quarter. William Blair Investment Management LLC now owns 1,979,960 shares of the medical instruments supplier’s stock valued at $50,786,000 after purchasing an additional 137,969 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Glaukos by 6.5% in the 4th quarter. BlackRock Inc. now owns 1,957,114 shares of the medical instruments supplier’s stock valued at $50,200,000 after purchasing an additional 119,811 shares in the last quarter. Peregrine Capital Management LLC boosted its stake in shares of Glaukos by 32.6% in the 4th quarter. Peregrine Capital Management LLC now owns 622,144 shares of the medical instruments supplier’s stock valued at $15,958,000 after purchasing an additional 152,990 shares in the last quarter. Jennison Associates LLC acquired a new stake in shares of Glaukos in the 4th quarter valued at $10,591,000. Finally, C WorldWide Group Holding A S boosted its stake in shares of Glaukos by 0.7% in the 4th quarter. C WorldWide Group Holding A S now owns 293,360 shares of the medical instruments supplier’s stock valued at $7,525,000 after purchasing an additional 1,935 shares in the last quarter.

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About Glaukos

Glaukos Corporation, an ophthalmic medical technology and pharmaceutical company, focuses on the development and commercialization of surgical devices and sustained pharmaceutical therapies designed to treat glaucoma. It offers iStent, a micro-bypass stent for insertion in conjunction with cataract surgery for the reduction of intraocular pressure in adult patients with mild-to-moderate open-angle glaucoma.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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