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

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

Glaukos Trading Down 2.3%

NYSE GKOS opened at $185.01 on Friday. The firm has a market capitalization of $10.91 billion, a price-to-earnings ratio of -56.93 and a beta of 0.78. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.46 and a current ratio of 5.04. Glaukos Corporation has a one year low of $73.16 and a one year high of $190.00. The company’s 50 day moving average price is $151.24 and its 200 day moving average price is $129.36.

Glaukos (NYSE:GKOS) last released its quarterly earnings data on Wednesday, July 29th. The medical instruments supplier reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.07. Glaukos had a negative net margin of 30.68% and a negative return on equity of 6.37%. The company had revenue of $185.61 million during the quarter, compared to the consensus estimate of $150.93 million. During the same period in the previous year, the firm earned ($0.24) earnings per share. Glaukos’s revenue for the quarter was up 49.6% on a year-over-year basis. On average, sell-side analysts predict that Glaukos Corporation will post -0.35 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on GKOS. Citigroup raised their price objective on Glaukos from $175.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Wells Fargo & Company upped their target price on Glaukos from $138.00 to $178.00 and gave the stock an “overweight” rating in a research report on Thursday, July 30th. Wall Street Zen upgraded Glaukos from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. JPMorgan Chase & Co. raised their target price on Glaukos from $120.00 to $140.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Finally, Piper Sandler reiterated an “overweight” rating and set a $195.00 target price (up from $165.00) on shares of Glaukos in a report on Thursday, July 30th. Twelve research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $177.33.

Institutional Trading of Glaukos

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in Glaukos in the second quarter valued at $1,333,318,000. Janus Henderson Group PLC grew its holdings in Glaukos by 77.2% during the 1st quarter. Janus Henderson Group PLC now owns 5,348,395 shares of the medical instruments supplier’s stock worth $575,844,000 after acquiring an additional 2,329,608 shares in the last quarter. Jupiter Topco LLC bought a new stake in shares of Glaukos in the 2nd quarter worth about $679,614,000. Wellington Management Group LLP increased its position in shares of Glaukos by 10.4% in the 3rd quarter. Wellington Management Group LLP now owns 3,580,670 shares of the medical instruments supplier’s stock worth $292,004,000 after purchasing an additional 336,266 shares during the last quarter. Finally, Primecap Management Co. CA raised its stake in shares of Glaukos by 49.8% in the 4th quarter. Primecap Management Co. CA now owns 3,376,928 shares of the medical instruments supplier’s stock valued at $381,289,000 after purchasing an additional 1,123,140 shares in the last quarter. Institutional investors own 99.04% of the company’s stock.

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.