Glaukos (NYSE:GKOS) COO Joseph Gilliam Sells 60,000 Shares of Stock

Glaukos Corporation (NYSE:GKOS) COO Joseph Gilliam sold 60,000 shares of the business’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $179.74, for a total transaction of $10,784,400.00. Following the completion of the sale, the chief operating officer directly owned 72,588 shares in the company, valued at $13,046,967.12. This represents a 45.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Glaukos Stock Up 1.3%

GKOS stock traded up $2.46 during trading hours on Thursday, reaching $189.09. 762,129 shares of the stock were exchanged, compared to its average volume of 901,136. The firm’s 50-day moving average is $150.03 and its 200-day moving average is $128.97. The company has a market cap of $11.15 billion, a price-to-earnings ratio of -58.18 and a beta of 0.78. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.04 and a quick ratio of 4.46. Glaukos Corporation has a 12 month low of $73.16 and a 12 month high of $189.69.

Glaukos (NYSE:GKOS) last issued its quarterly earnings results on Wednesday, July 29th. The medical instruments supplier reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.07. The company had revenue of $185.61 million for the quarter, compared to analyst estimates of $150.93 million. Glaukos had a negative return on equity of 6.37% and a negative net margin of 30.68%.The company’s quarterly revenue was up 49.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.24) earnings per share. On average, equities research analysts expect that Glaukos Corporation will post -0.35 earnings per share for the current year.

Institutional Investors Weigh In On Glaukos

Several hedge funds have recently bought and sold shares of the company. Allworth Financial LP bought a new position in Glaukos during the second quarter worth about $28,000. First Horizon Corp raised its stake in Glaukos by 1,715.4% in the fourth quarter. First Horizon Corp now owns 236 shares of the medical instruments supplier’s stock valued at $27,000 after buying an additional 223 shares during the period. Los Angeles Capital Management LLC acquired a new position in shares of Glaukos during the 4th quarter worth approximately $28,000. Larson Financial Group LLC boosted its holdings in shares of Glaukos by 62.0% during the 4th quarter. Larson Financial Group LLC now owns 345 shares of the medical instruments supplier’s stock worth $39,000 after buying an additional 132 shares during the period. Finally, Parallel Advisors LLC grew its stake in Glaukos by 159.2% in the 1st quarter. Parallel Advisors LLC now owns 368 shares of the medical instruments supplier’s stock valued at $40,000 after buying an additional 226 shares during the last quarter. 99.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GKOS has been the subject of several recent research reports. Needham & Company LLC increased their target price on shares of Glaukos from $150.00 to $201.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Wells Fargo & Company increased their price objective on shares of Glaukos from $138.00 to $178.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Piper Sandler restated an “overweight” rating and issued a $195.00 price objective (up from $165.00) on shares of Glaukos in a report on Thursday, July 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Glaukos in a research report on Friday, July 17th. Finally, JPMorgan Chase & Co. upped their target price on Glaukos from $120.00 to $140.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Twelve investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $177.33.

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.