Insider Selling: Glaukos Co. (NYSE:GKOS) COO Sells 2,059 Shares of Stock

Glaukos Co. (NYSE:GKOS) COO Joseph E. Gilliam sold 2,059 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $105.52, for a total value of $217,265.68. Following the completion of the transaction, the chief operating officer now directly owns 101,845 shares of the company’s stock, valued at $10,746,684.40. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Glaukos Trading Down 1.4 %

Glaukos stock traded down $1.50 during midday trading on Monday, reaching $105.01. The stock had a trading volume of 535,572 shares, compared to its average volume of 652,304. The stock’s 50-day simple moving average is $93.33 and its 200 day simple moving average is $83.07. The company has a debt-to-equity ratio of 0.78, a quick ratio of 4.68 and a current ratio of 5.38. Glaukos Co. has a twelve month low of $54.38 and a twelve month high of $110.73. The stock has a market capitalization of $5.27 billion, a PE ratio of -36.98 and a beta of 1.08.

Glaukos (NYSE:GKOS) last released its quarterly earnings data on Wednesday, May 1st. The medical instruments supplier reported ($0.70) EPS for the quarter, missing the consensus estimate of ($0.58) by ($0.12). Glaukos had a negative net margin of 43.15% and a negative return on equity of 24.69%. The company had revenue of $85.60 million during the quarter, compared to analysts’ expectations of $79.60 million. During the same period last year, the business earned ($0.59) earnings per share. The company’s revenue for the quarter was up 15.8% compared to the same quarter last year. Analysts expect that Glaukos Co. will post -2.2 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Jennison Associates LLC purchased a new stake in shares of Glaukos during the fourth quarter worth about $608,000. Natixis Advisors L.P. increased its position in shares of Glaukos by 4.0% during the third quarter. Natixis Advisors L.P. now owns 33,979 shares of the medical instruments supplier’s stock worth $2,557,000 after acquiring an additional 1,298 shares during the last quarter. State of New Jersey Common Pension Fund D increased its position in shares of Glaukos by 26.9% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 41,883 shares of the medical instruments supplier’s stock worth $3,329,000 after acquiring an additional 8,884 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Glaukos by 5.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 386,790 shares of the medical instruments supplier’s stock worth $29,106,000 after acquiring an additional 20,415 shares during the last quarter. Finally, Lisanti Capital Growth LLC purchased a new stake in shares of Glaukos during the third quarter worth about $6,367,000. 99.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on GKOS shares. Citigroup raised their price objective on Glaukos from $107.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, March 25th. Wells Fargo & Company raised their price objective on Glaukos from $103.00 to $110.00 and gave the company an “overweight” rating in a research note on Thursday. Needham & Company LLC raised their price objective on Glaukos from $108.00 to $113.00 and gave the company a “buy” rating in a research note on Thursday. BTIG Research raised their price objective on Glaukos from $107.00 to $112.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Jefferies Financial Group raised Glaukos from a “hold” rating to a “buy” rating and raised their price objective for the company from $84.00 to $125.00 in a research note on Monday. One research 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $108.64.

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.