Insider Selling: Glaukos Co. (NYSE:GKOS) COO Sells $498,700.80 in Stock

Glaukos Co. (NYSE:GKOS) COO Joseph E. Gilliam sold 3,328 shares of Glaukos stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $149.85, for a total transaction of $498,700.80. Following the completion of the transaction, the chief operating officer now owns 102,169 shares in the company, valued at approximately $15,310,024.65. This trade represents a 3.15 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Glaukos Trading Up 1.9 %

Shares of NYSE:GKOS opened at $151.22 on Thursday. Glaukos Co. has a 12-month low of $74.75 and a 12-month high of $151.92. The company has a quick ratio of 4.71, a current ratio of 5.54 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $8.34 billion, a P/E ratio of -50.07 and a beta of 1.03. The firm has a fifty day moving average of $138.89 and a two-hundred day moving average of $128.72.

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

Hedge Funds Weigh In On Glaukos

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

Analyst Upgrades and Downgrades

GKOS has been the subject of several research reports. UBS Group assumed coverage on Glaukos in a research note on Friday, December 6th. They set a “buy” rating and a $182.00 price objective for the company. Truist Financial lifted their price target on Glaukos from $152.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Wells Fargo & Company upped their price objective on shares of Glaukos from $145.00 to $153.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. JPMorgan Chase & Co. lifted their target price on shares of Glaukos from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Finally, Stifel Nicolaus upped their price target on shares of Glaukos from $145.00 to $153.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Glaukos currently has an average rating of “Moderate Buy” and a consensus target price 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.