Joseph E. Gilliam Sells 2,500 Shares of Glaukos Co. (NYSE:GKOS) Stock

Glaukos Co. (NYSE:GKOS) COO Joseph E. Gilliam sold 2,500 shares of the 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 sale, the chief operating officer now owns 101,845 shares of the company’s stock, valued at approximately $11,559,407.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Glaukos Stock Performance

Shares of NYSE GKOS traded up $3.09 during midday trading on Wednesday, hitting $114.72. The company’s stock had a trading volume of 443,129 shares, compared to its average volume of 603,841. Glaukos Co. has a 1-year low of $59.22 and a 1-year high of $115.78. The firm’s fifty day moving average price is $102.86 and its 200-day moving average price is $89.88. The company has a debt-to-equity ratio of 0.78, a quick ratio of 4.68 and a current ratio of 5.38. The firm has a market cap of $5.78 billion, a P/E ratio of -39.03 and a beta of 1.09.

Glaukos (NYSE:GKOS) last posted its earnings results on Wednesday, May 1st. The medical instruments supplier reported ($0.70) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.12). The firm had revenue of $85.60 million for the quarter, compared to analyst estimates of $79.60 million. Glaukos had a negative net margin of 43.15% and a negative return on equity of 24.69%. The company’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.59) earnings per share. On average, sell-side analysts forecast that Glaukos Co. will post -2.26 EPS for the current fiscal year.

Institutional Trading of Glaukos

A number of institutional investors have recently made changes to their positions in the stock. Opaleye Management Inc. bought a new stake in shares of Glaukos in the 1st quarter worth approximately $809,000. Cetera Advisors LLC bought a new stake in shares of Glaukos in the 1st quarter worth approximately $213,000. Iron Triangle Partners LP raised its holdings in shares of Glaukos by 75.6% in the 1st quarter. Iron Triangle Partners LP now owns 429,525 shares of the medical instruments supplier’s stock worth $40,500,000 after purchasing an additional 184,919 shares in the last quarter. Bellevue Group AG bought a new stake in shares of Glaukos in the 1st quarter worth approximately $5,273,000. Finally, Magnetar Financial LLC bought a new stake in shares of Glaukos in the 1st quarter worth approximately $2,338,000. 99.04% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on GKOS. Needham & Company LLC increased their target price on shares of Glaukos from $108.00 to $113.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Citigroup raised their price objective on shares of Glaukos from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, May 22nd. Jefferies Financial Group upgraded shares of Glaukos from a “hold” rating to a “buy” rating and raised their target price for the stock from $84.00 to $125.00 in a research report on Monday, May 6th. Truist Financial reiterated a “buy” rating and issued a $125.00 price target (up previously from $120.00) on shares of Glaukos in a report on Thursday, May 2nd. Finally, BTIG Research lifted their price target on shares of Glaukos from $107.00 to $112.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $112.27.

About Glaukos

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.