Insider Selling: Glaukos Co. (NYSE:GKOS) COO Sells 105 Shares of Stock

Glaukos Co. (NYSE:GKOS) COO Joseph E. Gilliam sold 105 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $110.36, for a total value of $11,587.80. Following the completion of the sale, the chief operating officer now directly owns 101,845 shares of the company’s stock, valued at approximately $11,239,614.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Glaukos Trading Down 1.0 %

NYSE:GKOS traded down $1.07 during mid-day trading on Wednesday, hitting $106.91. 397,830 shares of the company’s stock were exchanged, compared to its average volume of 648,391. The company has a 50 day simple moving average of $93.94 and a 200-day simple moving average of $83.62. The company has a current ratio of 5.38, a quick ratio of 4.68 and a debt-to-equity ratio of 0.78. Glaukos Co. has a fifty-two week low of $54.38 and a fifty-two week high of $110.73. The firm has a market capitalization of $5.38 billion, a P/E ratio of -37.12 and a beta of 1.08.

Glaukos (NYSE:GKOS) last posted its earnings results on Wednesday, May 1st. The medical instruments supplier reported ($0.70) EPS for the quarter, missing the consensus estimate of ($0.58) by ($0.12). Glaukos had a negative return on equity of 24.69% and a negative net margin of 43.15%. The business had revenue of $85.60 million for the quarter, compared to analyst estimates of $79.60 million. During the same quarter in the prior year, the business earned ($0.59) earnings per share. The firm’s quarterly revenue was up 15.8% on a year-over-year basis. As a group, research analysts expect that Glaukos Co. will post -2.2 earnings per share for the current year.

Institutional Investors Weigh In On Glaukos

Several hedge funds have recently added to or reduced their stakes in the business. National Bank of Canada FI acquired a new position in shares of Glaukos in the 4th quarter worth approximately $46,000. GAMMA Investing LLC purchased a new stake in shares of Glaukos in the fourth quarter worth approximately $55,000. Quadrant Capital Group LLC grew its holdings in shares of Glaukos by 54.8% in the fourth quarter. Quadrant Capital Group LLC now owns 929 shares of the medical instruments supplier’s stock valued at $74,000 after acquiring an additional 329 shares in the last quarter. Caldwell Sutter Capital Inc. lifted its position in shares of Glaukos by 5,860.0% during the first quarter. Caldwell Sutter Capital Inc. now owns 1,490 shares of the medical instruments supplier’s stock worth $140,000 after acquiring an additional 1,465 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Glaukos by 17.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,827 shares of the medical instruments supplier’s stock worth $137,000 after buying an additional 270 shares in the last quarter. 99.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on GKOS. Jefferies Financial Group raised Glaukos from a “hold” rating to a “buy” rating and boosted their price target for the company from $84.00 to $125.00 in a research note on Monday. Mizuho upped their target price on Glaukos from $85.00 to $100.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Stifel Nicolaus reaffirmed a “buy” rating and set a $110.00 target price on shares of Glaukos in a research report on Wednesday, April 3rd. Needham & Company LLC upped their target price on Glaukos from $108.00 to $113.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Finally, Truist Financial reiterated a “buy” rating and set a $125.00 price target (up previously from $120.00) on shares of Glaukos in a research note on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Glaukos currently has an average rating of “Moderate Buy” and a consensus price target of $108.64.

About Glaukos

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.