Insider Selling: Glaukos Co. (NYSE:GKOS) Director Sells $787,062.50 in Stock

Glaukos Co. (NYSE:GKOS) Director Marc Stapley sold 6,250 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $125.93, for a total value of $787,062.50. Following the completion of the transaction, the director now directly owns 34,076 shares of the company’s stock, valued at $4,291,190.68. The sale was disclosed in a filing with the SEC, which is available at this link.

Glaukos Stock Up 4.3 %

Shares of GKOS opened at $130.00 on Thursday. The firm has a market capitalization of $6.55 billion, a price-to-earnings ratio of -45.14 and a beta of 1.05. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.68 and a current ratio of 5.48. The business’s fifty day moving average price is $119.36 and its two-hundred day moving average price is $105.79. Glaukos Co. has a 52 week low of $59.22 and a 52 week high of $130.13.

Glaukos (NYSE:GKOS) last posted its quarterly earnings results on Wednesday, July 31st. The medical instruments supplier reported ($0.52) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.52). Glaukos had a negative return on equity of 22.51% and a negative net margin of 47.39%. The business had revenue of $95.70 million for the quarter, compared to analyst estimates of $88.86 million. During the same period last year, the company earned ($0.55) EPS. The firm’s revenue was up 19.0% on a year-over-year basis. On average, analysts predict that Glaukos Co. will post -2.25 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Truist Financial Corp boosted its position in shares of Glaukos by 8.8% in the 2nd quarter. Truist Financial Corp now owns 18,478 shares of the medical instruments supplier’s stock worth $2,187,000 after purchasing an additional 1,490 shares during the last quarter. Creative Planning boosted its position in shares of Glaukos by 126.8% in the 2nd quarter. Creative Planning now owns 7,706 shares of the medical instruments supplier’s stock worth $912,000 after purchasing an additional 4,309 shares during the last quarter. Algert Global LLC bought a new position in shares of Glaukos in the 2nd quarter worth $598,000. Driehaus Capital Management LLC boosted its position in shares of Glaukos by 24.0% in the 2nd quarter. Driehaus Capital Management LLC now owns 803,650 shares of the medical instruments supplier’s stock worth $95,112,000 after purchasing an additional 155,653 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of Glaukos in the 2nd quarter worth $882,000. 99.04% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Truist Financial reaffirmed a “buy” rating and set a $145.00 price target (up from $141.00) on shares of Glaukos in a report on Thursday, August 1st. Stifel Nicolaus raised their price target on Glaukos from $110.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, June 5th. Morgan Stanley raised their price target on Glaukos from $100.00 to $120.00 and gave the company an “equal weight” rating in a report on Monday, July 15th. Jefferies Financial Group raised Glaukos from a “hold” rating to a “buy” rating and raised their price target for the company from $84.00 to $125.00 in a report on Monday, May 6th. Finally, Needham & Company LLC raised their price target on Glaukos from $131.00 to $137.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $127.73.

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.