Glaukos Co. (NYSE:GKOS) Short Interest Up 18.3% in January

Glaukos Co. (NYSE:GKOS) was the target of a significant growth in short interest during the month of January. As of January 15th, there was short interest totalling 3,040,000 shares, a growth of 18.3% from the December 31st total of 2,570,000 shares. Based on an average daily trading volume, of 567,300 shares, the short-interest ratio is presently 5.4 days.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. increased their target price on Glaukos from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. BTIG Research boosted their price objective on Glaukos from $140.00 to $149.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Truist Financial raised their target price on Glaukos from $152.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Stifel Nicolaus upped their price target on Glaukos from $153.00 to $175.00 and gave the company a “buy” rating in a research report on Tuesday, December 31st. Finally, Piper Sandler reissued an “overweight” rating and issued a $180.00 price target (up from $140.00) on shares of Glaukos in a report on Monday, January 27th. One research analyst has rated the stock with a sell rating, two have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $151.08.

Insider Buying and Selling

In related news, Director Gilbert H. Kliman sold 10,000 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 32,336 shares in the company, valued at approximately $4,859,454.08. The trade was a 23.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Joseph E. Gilliam sold 3,328 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $149.85, for a total transaction of $498,700.80. Following the sale, the chief operating officer now directly owns 102,169 shares in the company, valued at approximately $15,310,024.65. This trade represents a 3.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,328 shares of company stock worth $2,289,521. Insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC boosted its holdings in shares of Glaukos by 5.4% in the second quarter. AQR Capital Management LLC now owns 4,141 shares of the medical instruments supplier’s stock worth $490,000 after buying an additional 211 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Glaukos by 7.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 27,711 shares of the medical instruments supplier’s stock valued at $3,280,000 after buying an additional 1,926 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Glaukos in the second quarter worth about $882,000. Algert Global LLC bought a new stake in Glaukos during the 2nd quarter valued at approximately $598,000. Finally, Creative Planning boosted its position in shares of Glaukos by 126.8% during the second quarter. Creative Planning now owns 7,706 shares of the medical instruments supplier’s stock worth $912,000 after acquiring an additional 4,309 shares during the last quarter. 99.04% of the stock is owned by hedge funds and other institutional investors.

Glaukos Stock Down 0.7 %

Shares of Glaukos stock traded down $1.14 during trading on Friday, hitting $156.61. The company’s stock had a trading volume of 475,741 shares, compared to its average volume of 501,003. Glaukos has a 52 week low of $83.90 and a 52 week high of $163.71. 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 company has a fifty day simple moving average of $149.41 and a two-hundred day simple moving average of $136.17. The company has a market capitalization of $8.64 billion, a PE ratio of -51.86 and a beta of 1.04.

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

Glaukos Company Profile

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.