Glaukos (NYSE:GKOS) Trading Down 2.3% on Insider Selling

Glaukos Co. (NYSE:GKOS) dropped 2.3% on Wednesday following insider selling activity. The stock traded as low as $118.69 and last traded at $118.93. Approximately 24,301 shares traded hands during mid-day trading, a decline of 96% from the average daily volume of 587,066 shares. The stock had previously closed at $121.75.

Specifically, COO Joseph E. Gilliam sold 2,250 shares of Glaukos stock in a transaction on Friday, July 5th. The stock was sold at an average price of $121.39, for a total value of $273,127.50. Following the completion of the transaction, the chief operating officer now directly owns 101,845 shares in the company, valued at $12,362,964.55. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Glaukos news, COO Joseph E. Gilliam sold 2,500 shares of Glaukos stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $113.50, for a total transaction of $283,750.00. Following the completion of the sale, the chief operating officer now directly owns 101,845 shares of the company’s stock, valued at approximately $11,559,407.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Joseph E. Gilliam sold 2,250 shares of Glaukos stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $121.39, for a total value of $273,127.50. Following the sale, the chief operating officer now directly owns 101,845 shares of the company’s stock, valued at $12,362,964.55. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,444 shares of company stock worth $2,411,171. Company insiders own 6.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Stifel Nicolaus lifted their price target on Glaukos from $110.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, June 5th. StockNews.com raised Glaukos from a “sell” rating to a “hold” rating in a report on Friday, July 5th. Truist Financial reissued a “buy” rating and issued a $125.00 target price (up from $120.00) on shares of Glaukos in a report on Thursday, May 2nd. BTIG Research boosted their target price on Glaukos from $107.00 to $112.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Finally, Jefferies Financial Group raised Glaukos from a “hold” rating to a “buy” rating and boosted their target price for the company from $84.00 to $125.00 in a report on Monday, May 6th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Glaukos presently has an average rating of “Moderate Buy” and an average target price of $112.45.

Glaukos Price Performance

The stock has a market cap of $6.21 billion, a price-to-earnings ratio of -42.79 and a beta of 1.06. The company has a 50-day moving average of $112.94 and a 200-day moving average of $98.63. The company has a debt-to-equity ratio of 0.78, a quick ratio of 4.68 and a current ratio of 5.38.

Glaukos (NYSE:GKOS) last released its earnings results on Wednesday, May 1st. The medical instruments supplier reported ($0.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.58) by ($0.12). Glaukos had a negative return on equity of 24.69% and a negative net margin of 43.15%. The business had revenue of $85.60 million for the quarter, compared to analyst estimates of $79.60 million. During the same quarter in the previous year, the firm posted ($0.59) EPS. The business’s revenue for the quarter was up 15.8% on a year-over-year basis. As a group, equities research analysts predict that Glaukos Co. will post -2.24 earnings per share for the current year.

Hedge Funds Weigh In On Glaukos

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its holdings in shares of Glaukos by 3.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 923,526 shares of the medical instruments supplier’s stock worth $73,412,000 after acquiring an additional 31,213 shares during the period. Jump Financial LLC grew its holdings in shares of Glaukos by 513.3% in the 4th quarter. Jump Financial LLC now owns 47,589 shares of the medical instruments supplier’s stock worth $3,783,000 after acquiring an additional 39,829 shares during the period. Norges Bank acquired a new stake in shares of Glaukos in the 4th quarter worth approximately $28,807,000. Nomura Holdings Inc. grew its holdings in shares of Glaukos by 3.2% in the 4th quarter. Nomura Holdings Inc. now owns 232,034 shares of the medical instruments supplier’s stock worth $18,444,000 after acquiring an additional 7,146 shares during the period. Finally, Jennison Associates LLC acquired a new stake in shares of Glaukos in the 4th quarter worth approximately $608,000. Institutional investors and hedge funds own 99.04% of the company’s stock.

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.