Glaukos Co. (NYSE:GKOS) Short Interest Update

Glaukos Co. (NYSE:GKOS) was the recipient of a large increase in short interest in December. As of December 31st, there was short interest totalling 3,040,000 shares, an increase of 18.3% from the December 15th total of 2,570,000 shares. Based on an average trading volume of 567,300 shares, the days-to-cover ratio is presently 5.4 days.

Insider Transactions at Glaukos

In related news, COO Joseph E. Gilliam sold 3,328 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $149.85, for a total transaction of $498,700.80. Following the completion of the transaction, the chief operating officer now owns 102,169 shares in the company, valued at approximately $15,310,024.65. This represents a 3.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gilbert H. Kliman sold 10,000 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $150.28, for a total transaction of $1,502,800.00. Following the transaction, the director now owns 32,336 shares of the company’s stock, valued at approximately $4,859,454.08. The trade was a 23.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,603 shares of company stock worth $2,605,678 in the last quarter. 6.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Glaukos

A number of institutional investors and hedge funds have recently modified their holdings of GKOS. Values First Advisors Inc. purchased a new stake in shares of Glaukos in the third quarter worth about $25,000. Harvest Fund Management Co. Ltd raised its stake in Glaukos by 2,263.2% in the third quarter. Harvest Fund Management Co. Ltd now owns 898 shares of the medical instruments supplier’s stock valued at $117,000 after purchasing an additional 860 shares in the last quarter. KBC Group NV raised its stake in Glaukos by 16.2% in the third quarter. KBC Group NV now owns 1,445 shares of the medical instruments supplier’s stock valued at $188,000 after purchasing an additional 201 shares in the last quarter. Brighton Jones LLC purchased a new stake in Glaukos in the second quarter valued at approximately $208,000. Finally, EWA LLC purchased a new stake in Glaukos in the third quarter valued at approximately $209,000. 99.04% of the stock is owned by hedge funds and other institutional investors.

Glaukos Price Performance

Shares of Glaukos stock traded up $0.09 on Friday, reaching $156.60. The stock had a trading volume of 529,055 shares, compared to its average volume of 558,098. Glaukos has a 1 year low of $83.90 and a 1 year high of $161.13. The company has a market cap of $8.63 billion, a P/E ratio of -51.85 and a beta of 1.04. The company has a current ratio of 5.54, a quick ratio of 4.71 and a debt-to-equity ratio of 0.19. The business’s 50 day moving average is $145.94 and its two-hundred day moving average is $133.60.

Glaukos (NYSE:GKOS) last announced its quarterly earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.20. Glaukos had a negative net margin of 42.43% and a negative return on equity of 18.99%. The firm had revenue of $96.70 million for the quarter, compared to the consensus estimate of $91.50 million. During the same period in the prior year, the firm posted ($0.50) earnings per share. The company’s revenue for the quarter was up 23.9% on a year-over-year basis. As a group, research analysts anticipate that Glaukos will post -1.89 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. StockNews.com upgraded shares of Glaukos from a “sell” rating to a “hold” rating in a research report on Monday, October 21st. Piper Sandler set a $140.00 price target on shares of Glaukos in a research report on Thursday, October 17th. JPMorgan Chase & Co. increased their price target on shares of Glaukos from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Citigroup raised shares of Glaukos from a “neutral” rating to a “buy” rating and upped their price objective for the company from $132.00 to $162.00 in a report on Wednesday, December 11th. Finally, Truist Financial upped their price objective on shares of Glaukos from $152.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Glaukos currently has an average rating of “Moderate Buy” and an average price target of $147.75.

Glaukos Company Profile

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.