Insider Selling: Glaukos Co. (NYSE:GKOS) Director Sells $1,502,800.00 in Stock

Glaukos Co. (NYSE:GKOS) Director Gilbert H. Kliman sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $150.28, for a total value of $1,502,800.00. Following the completion of the transaction, the director now owns 32,336 shares of the company’s stock, valued at approximately $4,859,454.08. This represents a 23.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Glaukos Stock Up 1.9 %

Shares of NYSE:GKOS opened at $151.22 on Thursday. Glaukos Co. has a 1-year low of $74.75 and a 1-year high of $151.92. The company’s fifty day moving average is $138.89 and its two-hundred day moving average is $128.72. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.71 and a current ratio of 5.54. The stock has a market capitalization of $8.34 billion, a price-to-earnings ratio of -50.07 and a beta of 1.03.

Glaukos (NYSE:GKOS) last announced its quarterly earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.20. The business had revenue of $96.70 million for the quarter, compared to analysts’ expectations of $91.50 million. Glaukos had a negative return on equity of 18.99% and a negative net margin of 42.43%. The business’s quarterly revenue was up 23.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.50) EPS. Equities analysts anticipate that Glaukos Co. will post -1.89 EPS for the current year.

Institutional Trading of Glaukos

Several large investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its position in shares of Glaukos by 294.5% during the 3rd quarter. Wellington Management Group LLP now owns 2,183,766 shares of the medical instruments supplier’s stock worth $284,501,000 after buying an additional 1,630,270 shares in the last quarter. State Street Corp raised its holdings in Glaukos by 5.3% during the third quarter. State Street Corp now owns 1,954,449 shares of the medical instruments supplier’s stock worth $254,626,000 after purchasing an additional 98,109 shares in the last quarter. Fred Alger Management LLC lifted its position in Glaukos by 3.8% in the second quarter. Fred Alger Management LLC now owns 1,278,723 shares of the medical instruments supplier’s stock worth $151,337,000 after purchasing an additional 47,308 shares during the period. Primecap Management Co. CA boosted its stake in Glaukos by 2.0% during the 3rd quarter. Primecap Management Co. CA now owns 1,245,185 shares of the medical instruments supplier’s stock valued at $162,223,000 after purchasing an additional 24,370 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Glaukos by 6.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,172,016 shares of the medical instruments supplier’s stock valued at $152,722,000 after purchasing an additional 66,134 shares during the period. 99.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GKOS. JPMorgan Chase & Co. upped their target price on shares of Glaukos from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. 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. UBS Group assumed coverage on Glaukos in a research note on Friday, December 6th. They issued a “buy” rating and a $182.00 price target on the stock. Citigroup upgraded Glaukos from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $132.00 to $162.00 in a report on Wednesday, December 11th. Finally, Piper Sandler set a $140.00 target price on Glaukos in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Glaukos currently has an average rating of “Moderate Buy” and an average price target of $145.92.

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.