Glaukos (NYSE:GKOS) CFO Alex Thurman Sells 10,000 Shares

Glaukos Corporation (NYSE:GKOS) CFO Alex Thurman sold 10,000 shares of Glaukos stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $150.00, for a total transaction of $1,500,000.00. Following the completion of the sale, the chief financial officer owned 43,681 shares of the company’s stock, valued at $6,552,150. This trade represents a 18.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Glaukos Trading Up 1.5%

NYSE GKOS opened at $152.89 on Thursday. The company has a fifty day simple moving average of $131.05 and a two-hundred day simple moving average of $120.19. The company has a current ratio of 5.43, a quick ratio of 4.73 and a debt-to-equity ratio of 0.10. The stock has a market cap of $8.98 billion, a P/E ratio of -46.61 and a beta of 0.75. Glaukos Corporation has a 12-month low of $73.16 and a 12-month high of $154.61.

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

Analysts Set New Price Targets

Several analysts have commented on the company. Piper Sandler reissued an “overweight” rating and issued a $165.00 price objective on shares of Glaukos in a report on Wednesday, July 1st. Weiss Ratings restated a “sell (d-)” rating on shares of Glaukos in a research report on Tuesday, April 21st. Needham & Company LLC raised their target price on Glaukos from $136.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, June 17th. Citigroup upped their target price on shares of Glaukos from $162.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, William Blair reissued an “outperform” rating on shares of Glaukos in a research note on Tuesday, May 26th. Thirteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $151.62.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Valeo Financial Advisors LLC grew its stake in Glaukos by 4.7% during the 2nd quarter. Valeo Financial Advisors LLC now owns 9,892 shares of the medical instruments supplier’s stock worth $1,383,000 after purchasing an additional 440 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Glaukos by 932.5% during the second quarter. Assenagon Asset Management S.A. now owns 108,736 shares of the medical instruments supplier’s stock worth $15,197,000 after purchasing an additional 98,205 shares in the last quarter. GAMMA Investing LLC raised its stake in Glaukos by 35.4% in the second quarter. GAMMA Investing LLC now owns 3,165 shares of the medical instruments supplier’s stock valued at $442,000 after buying an additional 827 shares in the last quarter. Moody National Bank Trust Division acquired a new position in shares of Glaukos during the 2nd quarter worth about $246,000. Finally, Parallel Advisors LLC increased its holdings in shares of Glaukos by 159.2% in the 1st quarter. Parallel Advisors LLC now owns 368 shares of the medical instruments supplier’s stock valued at $40,000 after acquiring an additional 226 shares during the last quarter. Institutional investors and hedge funds own 99.04% of the company’s stock.

Glaukos Company Profile

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.