Glaukos (NYSE:GKOS) CFO Sells $3,602,600.00 in Stock

Glaukos Corporation (NYSE:GKOS) CFO Alex Thurman sold 20,000 shares of the firm’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $180.13, for a total transaction of $3,602,600.00. Following the transaction, the chief financial officer owned 43,906 shares in the company, valued at $7,908,787.78. This represents a 31.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Glaukos Stock Up 1.3%

GKOS stock opened at $189.09 on Friday. The firm has a market cap of $11.15 billion, a PE ratio of -58.18 and a beta of 0.78. Glaukos Corporation has a 1 year low of $73.16 and a 1 year high of $189.69. The company has a fifty day simple moving average of $150.03 and a 200 day simple moving average of $128.97. The company has a current ratio of 5.04, a quick ratio of 4.46 and a debt-to-equity ratio of 0.10.

Glaukos (NYSE:GKOS) last posted its earnings results on Wednesday, July 29th. The medical instruments supplier reported ($0.14) 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 firm had revenue of $185.61 million for the quarter, compared to the consensus estimate of $150.93 million. During the same period in the prior year, the business posted ($0.24) earnings per share. The business’s quarterly revenue was up 49.6% on a year-over-year basis. Sell-side analysts anticipate that Glaukos Corporation will post -0.35 EPS for the current fiscal year.

Hedge Funds Weigh In On Glaukos

Several large investors have recently bought and sold shares of the stock. Sanctuary Advisors LLC bought a new stake in Glaukos in the 2nd quarter valued at $668,000. Elevation Point Wealth Partners LLC bought a new position in shares of Glaukos during the 2nd quarter worth about $336,000. William Blair Investment Management LLC acquired a new position in shares of Glaukos during the second quarter valued at about $92,476,000. Fund Advisors of America Inc FL acquired a new position in shares of Glaukos during the second quarter valued at about $259,000. Finally, Allworth Financial LP bought a new stake in shares of Glaukos in the second quarter valued at about $28,000. 99.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. HC Wainwright upped their target price on Glaukos from $168.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Wells Fargo & Company lifted their price target on shares of Glaukos from $138.00 to $178.00 and gave the company an “overweight” rating in a research report on Thursday, July 30th. Citigroup boosted their price objective on shares of Glaukos from $175.00 to $188.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Needham & Company LLC upped their price objective on shares of Glaukos from $150.00 to $201.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Finally, Stifel Nicolaus raised their target price on shares of Glaukos from $175.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Twelve research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $177.33.

About Glaukos

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.