Glaukos (NYSE:GKOS) Director Gilbert Kliman Sells 2,500 Shares of Company Stock

Key Points

• Director Gilbert Kliman sold 2,500 Glaukos shares for $632,500 at an average price of $253, leaving him with 37,406 shares.
• Glaukos shares fell 10.8% to $220.03 on Thursday, while quarterly results beat estimates: earnings were $0.47 per share versus a consensus loss, and revenue rose 58% year over year to $211.03 million.
• Analysts maintain a Moderate Buy consensus rating, with an average price target of $216.71.

Glaukos Corporation (NYSE:GKOS - Get Free Report) Director Gilbert Kliman sold 2,500 shares of the business's stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $253.00, for a total value of $632,500.00. Following the completion of the transaction, the director directly owned 37,406 shares in the company, valued at $9,463,718. This represents a 6.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Glaukos Stock Down 10.8%

Shares of Glaukos stock traded down $26.66 on Thursday, hitting $220.03. 2,041,507 shares of the company's stock traded hands, compared to its average volume of 1,955,267. The company has a fifty day moving average of $177.40 and a two-hundred day moving average of $143.58. Glaukos Corporation has a one year low of $80.90 and a one year high of $255.18. The company has a quick ratio of 4.09, a current ratio of 4.57 and a debt-to-equity ratio of 0.09.

Glaukos (NYSE:GKOS - Get Free Report) last issued its earnings results on Wednesday, October 28th. The medical instruments supplier reported $0.47 earnings per share for the quarter, topping analysts' consensus estimates of ($0.10) by $0.57. Glaukos had a negative return on equity of 0.97% and a negative net margin of 24.60%. The business had revenue of $211.03 million during the quarter, compared to the consensus estimate of $168.04 million. During the same period in the previous year, the company posted ($0.16) earnings per share. The firm's revenue for the quarter was up 58.0% on a year-over-year basis. Sell-side analysts anticipate that Glaukos Corporation will post 0.50 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on GKOS shares. Stifel Nicolaus lifted their price objective on shares of Glaukos from $190.00 to $225.00 and gave the company a "buy" rating in a research note on Thursday, October 29th. Mizuho set a $225.00 price target on shares of Glaukos in a report on Thursday, October 29th. Citigroup lifted their price target on shares of Glaukos from $225.00 to $247.00 and gave the company a "buy" rating in a research note on Thursday, October 29th. Wall Street Zen raised shares of Glaukos from a "hold" rating to a "buy" rating in a research note on Saturday, August 1st. Finally, HC Wainwright raised their target price on Glaukos from $195.00 to $248.00 and gave the company a "buy" rating in a research note on Thursday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Glaukos currently has an average rating of "Moderate Buy" and an average target price of $216.71.

Hedge Funds Weigh In On Glaukos

A number of large investors have recently modified their holdings of GKOS. Allworth Financial LP acquired a new stake in Glaukos in the 2nd quarter valued at $28,000. Fulcrum Asset Management LLP raised its holdings in Glaukos by 91.7% during the third quarter. Fulcrum Asset Management LLP now owns 184 shares of the medical instruments supplier's stock worth $29,000 after buying an additional 88 shares during the last quarter. CoreCap Advisors LLC acquired a new position in Glaukos during the third quarter worth $33,000. Fortitude Family Office LLC acquired a new position in Glaukos during the third quarter worth $36,000. Finally, Parallel Advisors LLC lifted its stake in shares of Glaukos by 159.2% in the first quarter. Parallel Advisors LLC now owns 368 shares of the medical instruments supplier's stock valued at $40,000 after buying an additional 226 shares in the last quarter. 99.04% of the stock is currently owned by institutional investors.

About Glaukos

Glaukos Corporation is an ophthalmic medical-technology company focused on developing and commercializing therapies for chronic eye diseases. The company's principal areas of focus include glaucoma, corneal disorders and retinal diseases, with an emphasis on treatments that may reduce reliance on conventional pharmaceuticals or more invasive surgical procedures.

Glaukos is best known for its micro-invasive glaucoma surgery (MIGS) products, including the iStent family of implantable devices used to help lower intraocular pressure in patients with glaucoma.

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