Short Interest in Glaukos Corp. (GKOS) Increases By 85.6%
Glaukos Corp. (NYSE:GKOS) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 1,008,778 shares, a growth of 85.6% from the August 15th total of 543,479 shares. Based on an average trading volume of 518,510 shares, the days-to-cover ratio is presently 1.9 days. Approximately 6.0% of the shares of the stock are sold short.
In related news, Director Jonathan Silverstein sold 292,938 shares of the stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $33.69, for a total value of $9,869,081.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Richard L. Harrison sold 5,700 shares of the stock in a transaction that occurred on Tuesday, July 12th. The shares were sold at an average price of $30.00, for a total value of $171,000.00. Following the completion of the sale, the chief financial officer now directly owns 7,088 shares of the company’s stock, valued at approximately $212,640. The disclosure for this sale can be found here. Company insiders own 36.80% of the company’s stock.
Large investors have recently made changes to their positions in the company. TIAA CREF Investment Management LLC raised its stake in shares of Glaukos Corp. by 6.7% in the first quarter. TIAA CREF Investment Management LLC now owns 37,513 shares of the company’s stock valued at $632,000 after buying an additional 2,340 shares during the period. JPMorgan Chase & Co. purchased a new stake in shares of Glaukos Corp. during the first quarter valued at approximately $1,235,000. Spark Investment Management LLC purchased a new stake in shares of Glaukos Corp. during the first quarter valued at approximately $300,000. State Street Corp raised its stake in shares of Glaukos Corp. by 6.7% in the first quarter. State Street Corp now owns 93,937 shares of the company’s stock valued at $1,584,000 after buying an additional 5,862 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Glaukos Corp. by 1.0% in the first quarter. Geode Capital Management LLC now owns 41,932 shares of the company’s stock valued at $706,000 after buying an additional 405 shares during the period. 71.91% of the stock is currently owned by institutional investors and hedge funds.
Glaukos Corp. (NYSE:GKOS) opened at 37.84 on Thursday. Glaukos Corp. has a 52-week low of $14.25 and a 52-week high of $37.97. The stock’s 50 day moving average price is $32.64 and its 200 day moving average price is $26.09. The stock’s market capitalization is $1.25 billion.
Glaukos Corp. (NYSE:GKOS) last announced its quarterly earnings results on Monday, August 1st. The company reported $0.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.10. The business had revenue of $28.60 million for the quarter, compared to analyst estimates of $24.45 million. Glaukos Corp. had a negative return on equity of 1.14% and a negative net margin of 1.23%. The company’s quarterly revenue was up 60.7% on a year-over-year basis. During the same quarter in the previous year, the company earned ($1.30) EPS. On average, analysts forecast that Glaukos Corp. will post $0.10 EPS for the current year.
Several equities research analysts recently commented on the company. Piper Jaffray Cos. reaffirmed a “buy” rating on shares of Glaukos Corp. in a report on Sunday, July 17th. Cantor Fitzgerald raised their target price on Glaukos Corp. from $35.00 to $41.00 and gave the stock a “buy” rating in a research note on Tuesday, August 2nd. Zacks Investment Research raised Glaukos Corp. from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research note on Thursday, August 4th. Finally, Roth Capital raised their target price on Glaukos Corp. from $36.50 to $41.00 and gave the stock a “buy” rating in a research note on Tuesday, August 2nd. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $37.80.
About Glaukos Corp.
Glaukos Corporation (Glaukos) is an ophthalmic medical technology company. The Company focuses on the development and commercialization of products and procedures for the treatment of glaucoma. Glaukos has developed the micro-invasive glaucoma surgery (MIGS) for glaucoma treatment. It offers iStent, an MIGS device measuring approximately one millimeter long and approximately 0.33 millimeter wide.
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