Insider Selling: Glaukos (NYSE:GKOS) CFO Sells 20,000 Shares of Stock

Key Points

• Glaukos CFO Alex Thurman sold 20,000 shares at an average price of $180.13, generating $3.6 million. The Rule 10b5-1 transaction reduced his direct holdings by 31.3% to 43,906 shares.
• Glaukos shares rose 0.9% to $182.97, near the company’s 52-week high of $184.00. The stock has gained substantially, with its 50-day and 200-day moving averages at $145.79 and $127.64, respectively.
• The company’s latest quarterly results beat expectations, with revenue up 49.6% year over year to $185.61 million and a narrower-than-expected loss of $0.14 per share. Analysts maintain a “Moderate Buy” consensus and an average price target of $177.33.

Glaukos Corporation (NYSE:GKOS - Get Free Report) CFO Alex Thurman sold 20,000 shares of the stock in a transaction on Friday, August 7th. The shares were sold at an average price of $180.13, for a total value of $3,602,600.00. Following the completion of the transaction, the chief financial officer directly owned 43,906 shares in the company, valued at $7,908,787.78. This trade represents a 31.30% decrease in their position. The transaction was disclosed in a legal 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 Stock Up 0.9%

Glaukos stock traded up $1.55 during midday trading on Tuesday, reaching $182.97. The company's stock had a trading volume of 723,278 shares, compared to its average volume of 883,314. The company has a market cap of $10.79 billion, a P/E ratio of -56.30 and a beta of 0.78. The company has a quick ratio of 4.46, a current ratio of 5.04 and a debt-to-equity ratio of 0.10. The business has a 50-day simple moving average of $145.79 and a 200-day simple moving average of $127.64. Glaukos Corporation has a fifty-two week low of $73.16 and a fifty-two week high of $184.00.

Glaukos (NYSE:GKOS - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The medical instruments supplier reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.07. Glaukos had a negative return on equity of 6.37% and a negative net margin of 30.68%.The business had revenue of $185.61 million during the quarter, compared to analysts' expectations of $150.93 million. During the same period in the prior year, the firm posted ($0.24) EPS. The business's quarterly revenue was up 49.6% compared to the same quarter last year. On average, research analysts expect that Glaukos Corporation will post -0.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on GKOS. UBS Group started coverage on shares of Glaukos in a research note on Tuesday, July 28th. They issued a "neutral" rating and a $150.00 price target on the stock. Citigroup upped their target price on shares of Glaukos from $175.00 to $188.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Needham & Company LLC increased their target price on shares of Glaukos from $150.00 to $201.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Glaukos in a research note on Friday, July 17th. Finally, William Blair reissued an "outperform" rating on shares of Glaukos in a research report on Tuesday, May 26th. Twelve research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $177.33.

Institutional Trading of Glaukos

Several hedge funds and other institutional investors have recently made changes to their positions in GKOS. First Horizon Corp increased its stake in shares of Glaukos by 1,715.4% during the fourth quarter. First Horizon Corp now owns 236 shares of the medical instruments supplier's stock worth $27,000 after acquiring an additional 223 shares during the period. Allworth Financial LP purchased a new stake in Glaukos in the 2nd quarter valued at approximately $28,000. Los Angeles Capital Management LLC purchased a new stake in Glaukos in the 4th quarter valued at approximately $28,000. Larson Financial Group LLC increased its position in Glaukos by 62.0% during the 4th quarter. Larson Financial Group LLC now owns 345 shares of the medical instruments supplier's stock worth $39,000 after purchasing an additional 132 shares during the period. Finally, Parallel Advisors LLC increased its position in Glaukos by 159.2% during the 1st quarter. Parallel Advisors LLC now owns 368 shares of the medical instruments supplier's stock worth $40,000 after purchasing an additional 226 shares during the period. Hedge funds and other institutional investors own 99.04% of the company's stock.

About Glaukos

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.

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