Insider Selling: Glaukos Co. (NYSE:GKOS) CFO Sells 442 Shares of Stock

Glaukos Co. (NYSE:GKOS) CFO Alex R. Thurman sold 442 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $105.69, for a total transaction of $46,714.98. Following the sale, the chief financial officer now owns 52,090 shares in the company, valued at approximately $5,505,392.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Glaukos Price Performance

Shares of NYSE:GKOS traded down $1.56 on Monday, hitting $104.95. The company had a trading volume of 535,572 shares, compared to its average volume of 652,305. The business has a 50 day moving average of $93.33 and a 200 day moving average of $83.07. Glaukos Co. has a 52-week low of $54.38 and a 52-week high of $110.73. The company has a market cap of $5.27 billion, a PE ratio of -36.98 and a beta of 1.08. The company has a current ratio of 5.38, a quick ratio of 4.68 and a debt-to-equity ratio of 0.78.

Glaukos (NYSE:GKOS) last announced its quarterly earnings data 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 net margin of 43.15% and a negative return on equity of 24.69%. The firm 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 company earned ($0.59) EPS. The company’s quarterly revenue was up 15.8% compared to the same quarter last year. As a group, equities analysts anticipate that Glaukos Co. will post -2.2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

GKOS has been the subject of a number of recent research reports. Stifel Nicolaus reaffirmed a “buy” rating and issued a $110.00 target price on shares of Glaukos in a research note on Wednesday, April 3rd. Wells Fargo & Company raised their target price on Glaukos from $103.00 to $110.00 and gave the stock an “overweight” rating in a research note on Thursday. StockNews.com cut Glaukos from a “hold” rating to a “sell” rating in a report on Tuesday, February 27th. Jefferies Financial Group upgraded shares of Glaukos from a “hold” rating to a “buy” rating and boosted their price objective for the company from $84.00 to $125.00 in a report on Monday. Finally, Truist Financial restated a “buy” rating and issued a $125.00 price objective (up from $120.00) on shares of Glaukos in a report on Thursday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $108.64.

Institutional Trading of Glaukos

Hedge funds have recently modified their holdings of the business. Commonwealth Equity Services LLC increased its stake in Glaukos by 20.7% during the 3rd quarter. Commonwealth Equity Services LLC now owns 5,582 shares of the medical instruments supplier’s stock worth $420,000 after purchasing an additional 959 shares in the last quarter. Xponance Inc. acquired a new stake in Glaukos during the 3rd quarter valued at $208,000. Raymond James & Associates boosted its position in Glaukos by 18.9% during the third quarter. Raymond James & Associates now owns 12,898 shares of the medical instruments supplier’s stock worth $971,000 after purchasing an additional 2,053 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Glaukos by 10.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,916 shares of the medical instruments supplier’s stock valued at $746,000 after purchasing an additional 898 shares during the last quarter. Finally, Mackenzie Financial Corp bought a new position in shares of Glaukos in the third quarter valued at about $203,000. Hedge funds and other institutional investors 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.