Insider Selling: Glaukos (NYSE:GKOS) CFO Sells $1,550,000.00 in Stock

Glaukos Corporation (NYSE:GKOS) CFO Alex Thurman sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $155.00, for a total transaction of $1,550,000.00. Following the transaction, the chief financial officer owned 43,681 shares of the company’s stock, valued at $6,770,555. This trade represents a 18.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Glaukos Price Performance

Shares of GKOS opened at $157.21 on Thursday. The firm has a market capitalization of $9.23 billion, a price-to-earnings ratio of -47.93 and a beta of 0.75. The firm’s fifty day simple moving average is $133.49 and its 200-day simple moving average is $121.52. Glaukos Corporation has a twelve month low of $73.16 and a twelve month high of $157.71. The company has a current ratio of 5.43, a quick ratio of 4.73 and a debt-to-equity ratio of 0.10.

Glaukos (NYSE:GKOS) last issued its earnings results on Wednesday, April 29th. The medical instruments supplier reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.12. The firm had revenue of $150.57 million during the quarter, compared to the consensus estimate of $137.00 million. Glaukos had a negative net margin of 34.34% and a negative return on equity of 6.92%. The company’s revenue was up 41.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.22) earnings per share. Equities analysts forecast that Glaukos Corporation will post -0.57 EPS for the current fiscal year.

Institutional Investors Weigh In On Glaukos

A number of institutional investors and hedge funds have recently made changes to their positions in GKOS. Janus Henderson Group PLC increased its holdings in shares of Glaukos by 77.2% in the first quarter. Janus Henderson Group PLC now owns 5,348,395 shares of the medical instruments supplier’s stock valued at $575,844,000 after purchasing an additional 2,329,608 shares during the period. Primecap Management Co. CA increased its stake in Glaukos by 49.8% in the 4th quarter. Primecap Management Co. CA now owns 3,376,928 shares of the medical instruments supplier’s stock valued at $381,289,000 after buying an additional 1,123,140 shares during the period. Goldman Sachs Group Inc. increased its stake in Glaukos by 209.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,350,425 shares of the medical instruments supplier’s stock valued at $152,476,000 after buying an additional 913,458 shares during the period. Millennium Management LLC raised its position in Glaukos by 75.3% during the 4th quarter. Millennium Management LLC now owns 1,609,699 shares of the medical instruments supplier’s stock worth $181,751,000 after buying an additional 691,289 shares during the last quarter. Finally, UBS Group AG raised its position in Glaukos by 316.0% during the 4th quarter. UBS Group AG now owns 873,942 shares of the medical instruments supplier’s stock worth $98,677,000 after buying an additional 663,849 shares during the last quarter. 99.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. BTIG Research reaffirmed a “buy” rating and issued a $164.00 target price on shares of Glaukos in a research report on Monday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Glaukos in a report on Tuesday, April 21st. William Blair reiterated an “outperform” rating on shares of Glaukos in a research report on Tuesday, May 26th. Wells Fargo & Company boosted their target price on Glaukos from $135.00 to $138.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Finally, Citigroup upped their target price on Glaukos from $162.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Thirteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $151.77.

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.