Glaukos Corporation [GKOS] fell -23.17% so far this year. What now?



Glaukos Corporation [NYSE: GKOS] slipped around -15.75 points on Wednesday, while shares priced at $57.82 at the close of the session, down -21.41%. The company report on July 14, 2021 that Glaukos Comments on the Centers for Medicare and Medicaid Services 2022 Proposed Physician Fee Schedule.

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Glaukos Corporation (NYSE: GKOS), an ophthalmic medical technology and pharmaceutical company focused on novel therapies for the treatment of glaucoma, corneal disorders and retinal diseases, commented on the recently released Centers for Medicare and Medicaid Services (CMS) Calendar Year 2022 Medicare Physician Fee Schedule Proposed Rule. The Proposed Rule was released on July 13, 2021, and updates payment policies, payment rates and other provisions for services furnished under the Medicare Physician Fee Schedule on or after January 1, 2022. The Proposed Rule release is followed by a 60-day public comment period closing on September 13, 2021, which will culminate in CMS’ release of the Final Rule, which is expected to be announced by November 2021, for implementation on January 1, 2022. The Proposed Rule is therefore subject to change.

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The Proposed Rule and accompanying Addenda include payment rates for two new Category I Current Procedural Terminology (CPT) codes, including 669X2 for non-complex cataract extraction in combination with the insertion of an aqueous drainage device and 669X1 for complex cataract extraction in combination with the insertion of an aqueous drainage device. Category I CPT Codes 669X2 and 669X1 will replace Category III codes 0191T and 0376T as the primary codes that physicians will use to seek reimbursement utilizing Glaukos’ trabecular micro-bypass technologies (iStent®, iStent inject®, iStent inject W) when used as approved in combination with cataract surgery.

Glaukos Corporation stock is now -23.17% down from its year-to-date (YTD) trading value. GKOS Stock saw the intraday high of $61.00 and lowest of $53.0006 per share. The company’s 52-week high price is 99.00, which means current price is +9.09% above from all time high which was touched on 03/02/21.

Compared to the average trading volume of 334.89K shares, GKOS reached a trading volume of 3992673 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Glaukos Corporation [GKOS]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for GKOS shares is $89.44 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on GKOS stock is a recommendation set at 2.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

William Blair have made an estimate for Glaukos Corporation shares, keeping their opinion on the stock as Mkt Perform, with their previous recommendation back on July 14, 2021. The new note on the price target was released on July 14, 2021, representing the official price target for Glaukos Corporation stock. Previously, the target price had yet another raise to $100, while Oppenheimer analysts kept a Outperform rating on GKOS stock. On January 29, 2021, analysts increased their price target for GKOS shares from 70 to 80.

The Average True Range (ATR) for Glaukos Corporation is set at 3.93, with the Price to Sales ratio for GKOS stock in the period of the last 12 months amounting to 11.37. The Price to Book ratio for the last quarter was 4.48, with the Price to Cash per share for the same quarter was set at 8.72.

How has GKOS stock performed recently?

Glaukos Corporation [GKOS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -28.69. With this latest performance, GKOS shares dropped by -28.22% in over the last four-week period, additionally sinking by -25.86% over the last 6 months – not to mention a rise of 43.72% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for GKOS stock in for the last two-week period is set at 16.85, with the RSI for the last a single of trading hit 10.37, and the three-weeks RSI is set at 22.63 for Glaukos Corporation [GKOS]. The present Moving Average for the last 50 days of trading for this stock 78.65, while it was recorded at 72.41 for the last single week of trading, and 77.13 for the last 200 days.

Glaukos Corporation [GKOS]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Glaukos Corporation [GKOS] shares currently have an operating margin of -54.92 and a Gross Margin at +58.15. Glaukos Corporation’s Net Margin is presently recorded at -53.50.

Return on Total Capital for GKOS is now -14.64, given the latest momentum, and Return on Invested Capital for the company is -14.29. Return on Equity for this stock declined to -17.95, with Return on Assets sitting at -13.20. When it comes to the capital structure of this company, Glaukos Corporation [GKOS] has a Total Debt to Total Equity ratio set at 40.75. Additionally, GKOS Total Debt to Total Capital is recorded at 28.95, with Total Debt to Total Assets ending up at 27.05. Long-Term Debt to Equity for the company is recorded at 40.57, with the Long-Term Debt to Total Capital now at 28.83.

Reflecting on the efficiency of the workforce at the company, Glaukos Corporation [GKOS] managed to generate an average of -$184,300 per employee. Receivables Turnover for the company is 6.04 with a Total Asset Turnover recorded at a value of 0.25.Glaukos Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.40 and a Current Ratio set at 1.40.

Earnings analysis for Glaukos Corporation [GKOS]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for GKOS. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Glaukos Corporation go to 8.00%.

Insider trade positions for Glaukos Corporation [GKOS]

There are presently around $2,853 million, in the hands of institutional investors. The top three institutional holders of GKOS stocks are: BLACKROCK INC. with ownership of 7,270,447, which is approximately 4.043% of the company’s market cap and around 1.50% of the total institutional ownership; BROWN CAPITAL MANAGEMENT LLC, holding 6,354,849 shares of the stock with an approximate value of $367.44 million in GKOS stocks shares; and BAILLIE GIFFORD & CO, currently with $345.62 million in GKOS stock with ownership of nearly 22.881% of the company’s market capitalization.

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Positions in Glaukos Corporation stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 110 institutional holders increased their position in Glaukos Corporation [NYSE:GKOS] by around 3,376,597 shares. Additionally, 103 investors decreased positions by around 2,532,132 shares, while 26 investors held positions by with 43,437,063 shares. The mentioned changes placed institutional holdings at 49,345,792 shares, according to the latest SEC report filing. GKOS stock had 37 new institutional investments in for a total of 298,968 shares, while 25 institutional investors sold positions of 245,401 shares during the same period.



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