Insider Selling: Glaukos (NYSE:GKOS) Director Sells 2,500 Shares of Stock

Glaukos Corporation (NYSE:GKOS) Director Gilbert Kliman sold 2,500 shares of Glaukos stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $253.00, for a total value of $632,500.00. Following the transaction, the director owned 37,406 shares of the company’s stock, valued at $9,463,718. This trade represents a 6.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Glaukos Trading Down 10.8%

GKOS traded down $26.66 during midday trading on Thursday, reaching $220.03. 2,041,507 shares of the company were exchanged, compared to its average volume of 1,955,267. Glaukos Corporation has a one year low of $80.90 and a one year high of $255.18. The company’s fifty day moving average price is $177.40 and its 200 day moving average price is $143.58. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.09 and a current ratio of 4.57.

Glaukos (NYSE:GKOS) last posted its earnings results on Wednesday, October 28th. The medical instruments supplier reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.57. The company had revenue of $211.03 million for the quarter, compared to analyst estimates of $168.04 million. Glaukos had a negative return on equity of 0.97% and a negative net margin of 24.60%. The company’s revenue for the quarter was up 58.0% on a year-over-year basis. During the same quarter last year, the company earned ($0.16) earnings per share. Equities research analysts forecast that Glaukos Corporation will post 0.50 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on GKOS shares. Jefferies Financial Group raised their price objective on Glaukos from $190.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, September 22nd. HC Wainwright upped their target price on shares of Glaukos from $195.00 to $248.00 and gave the stock a “buy” rating in a research note on Thursday, October 29th. Stifel Nicolaus increased their target price on shares of Glaukos from $190.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, October 29th. Citigroup raised their price target on shares of Glaukos from $225.00 to $247.00 and gave the company a “buy” rating in a research report on Thursday, October 29th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Glaukos in a report on Thursday, October 15th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Glaukos has a consensus rating of “Moderate Buy” and a consensus price target of $216.71.

Institutional Trading of Glaukos

A number of hedge funds have recently bought and sold shares of the business. Quantinno Capital Management LP boosted its position in Glaukos by 964.0% in the first quarter. Quantinno Capital Management LP now owns 30,836 shares of the medical instruments supplier’s stock worth $3,320,000 after purchasing an additional 27,938 shares during the last quarter. Stephens Inc. AR purchased a new stake in shares of Glaukos during the 1st quarter valued at $363,000. TimesSquare Capital Management LLC purchased a new stake in shares of Glaukos during the 2nd quarter valued at $20,293,000. BlackRock Inc. purchased a new stake in shares of Glaukos during the 2nd quarter valued at $1,333,318,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Glaukos during the 2nd quarter worth $3,361,000. 99.04% of the stock is currently owned by institutional investors.

About Glaukos

Glaukos Corporation is an ophthalmic medical-technology company focused on developing and commercializing therapies for chronic eye diseases. The company’s principal areas of focus include glaucoma, corneal disorders and retinal diseases, with an emphasis on treatments that may reduce reliance on conventional pharmaceuticals or more invasive surgical procedures.

Glaukos is best known for its micro-invasive glaucoma surgery (MIGS) products, including the iStent family of implantable devices used to help lower intraocular pressure in patients with glaucoma.