Glaukos Co. (NYSE:GKOS) Sees Large Decline in Short Interest

Glaukos Co. (NYSE:GKOS) was the target of a large decrease in short interest during the month of April. As of April 15th, there was short interest totalling 3,290,000 shares, a decrease of 5.7% from the March 31st total of 3,490,000 shares. Based on an average daily volume of 669,700 shares, the short-interest ratio is currently 4.9 days.

Insider Activity

In other news, COO Joseph E. Gilliam sold 5,000 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $96.07, for a total value of $480,350.00. Following the transaction, the chief operating officer now owns 119,802 shares of the company’s stock, valued at approximately $11,509,378.14. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, COO Joseph E. Gilliam sold 5,000 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $96.07, for a total value of $480,350.00. Following the transaction, the chief operating officer now owns 119,802 shares of the company’s stock, valued at approximately $11,509,378.14. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Joseph E. Gilliam sold 1,512 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $96.80, for a total value of $146,361.60. Following the completion of the transaction, the chief operating officer now directly owns 119,802 shares in the company, valued at approximately $11,596,833.60. The disclosure for this sale can be found here. Insiders have sold a total of 232,881 shares of company stock valued at $21,965,491 in the last quarter. Insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GKOS. CWM LLC boosted its position in shares of Glaukos by 309.5% during the 3rd quarter. CWM LLC now owns 1,384 shares of the medical instruments supplier’s stock worth $104,000 after acquiring an additional 1,046 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in shares of Glaukos by 20.7% in the 3rd quarter. Commonwealth Equity Services LLC now owns 5,582 shares of the medical instruments supplier’s stock valued at $420,000 after purchasing an additional 959 shares during the period. Xponance Inc. acquired a new stake in shares of Glaukos in the 3rd quarter valued at about $208,000. Raymond James & Associates boosted its position in shares of Glaukos by 18.9% in the 3rd quarter. Raymond James & Associates now owns 12,898 shares of the medical instruments supplier’s stock valued at $971,000 after purchasing an additional 2,053 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Glaukos by 10.0% in the 3rd 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 period. 99.04% of the stock is owned by institutional investors and hedge funds.

Glaukos Stock Up 3.0 %

NYSE:GKOS opened at $98.84 on Thursday. The stock has a 50-day simple moving average of $92.71 and a 200-day simple moving average of $82.43. Glaukos has a 1 year low of $45.38 and a 1 year high of $103.66. The company has a quick ratio of 4.78, a current ratio of 5.34 and a debt-to-equity ratio of 0.77.

Glaukos (NYSE:GKOS) last released its quarterly earnings data on Wednesday, February 21st. The medical instruments supplier reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by ($0.07). The business had revenue of $82.40 million for the quarter, compared to analyst estimates of $81.00 million. Glaukos had a negative return on equity of 22.67% and a negative net margin of 42.79%. The company’s revenue was up 15.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.53) earnings per share. On average, equities analysts forecast that Glaukos will post -2.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

GKOS has been the topic of several research analyst reports. Wells Fargo & Company boosted their price objective on Glaukos from $83.00 to $103.00 and gave the company an “overweight” rating in a report on Thursday, February 22nd. Needham & Company LLC boosted their price objective on Glaukos from $105.00 to $108.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Mizuho upped their price target on Glaukos from $85.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. StockNews.com downgraded Glaukos from a “hold” rating to a “sell” rating in a report on Tuesday, February 27th. Finally, Truist Financial restated a “buy” rating and set a $110.00 price target on shares of Glaukos in a report on Monday, April 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Glaukos has a consensus rating of “Moderate Buy” and a consensus price target of $99.80.

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.