Insider Selling: Glaukos (NYSE:GKOS) COO Sells 60,000 Shares of Stock

Key Points

• Glaukos COO Joseph Gilliam sold 60,000 shares at an average price of $179.74, generating approximately $10.8 million. The sale reduced his direct ownership by 45.25% to 72,588 shares.
• Glaukos shares recently traded near a 52-week high at $189.09, while the company reported quarterly revenue of $185.6 million, up 49.6% year over year, and beat analysts’ EPS expectations.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and several firms raising price targets; targets range from $190 to $215, although one firm maintains a sell rating.

Glaukos Corporation (NYSE:GKOS - Get Free Report) COO Joseph Gilliam sold 60,000 shares of the stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $179.74, for a total value of $10,784,400.00. Following the transaction, the chief operating officer directly owned 72,588 shares of the company's stock, valued at approximately $13,046,967.12. The trade was a 45.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Glaukos Price Performance

Shares of NYSE:GKOS traded up $2.46 during trading hours on Thursday, hitting $189.09. 762,129 shares of the company's stock traded hands, compared to its average volume of 901,136. The company has a market cap of $11.15 billion, a price-to-earnings ratio of -58.18 and a beta of 0.78. Glaukos Corporation has a 52 week low of $73.16 and a 52 week high of $189.69. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.46 and a current ratio of 5.04. The company's fifty day simple moving average is $150.03 and its two-hundred day simple moving average is $128.97.

Glaukos (NYSE:GKOS - Get Free Report) last announced its earnings results on Wednesday, July 29th. The medical instruments supplier reported ($0.14) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.21) by $0.07. The company had revenue of $185.61 million for the quarter, compared to analyst estimates of $150.93 million. Glaukos had a negative return on equity of 6.37% and a negative net margin of 30.68%.Glaukos's revenue for the quarter was up 49.6% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.24) earnings per share. As a group, equities analysts anticipate that Glaukos Corporation will post -0.35 EPS for the current fiscal year.

Hedge Funds Weigh In On Glaukos

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Horizon Corp raised its position in shares of Glaukos by 1,715.4% in the 4th quarter. First Horizon Corp now owns 236 shares of the medical instruments supplier's stock valued at $27,000 after acquiring an additional 223 shares during the period. Allworth Financial LP bought a new position in shares of Glaukos during the second quarter worth $28,000. Los Angeles Capital Management LLC bought a new stake in shares of Glaukos in the 4th quarter valued at $28,000. Larson Financial Group LLC raised its stake 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 buying an additional 132 shares during the period. Finally, Parallel Advisors LLC lifted its holdings in Glaukos by 159.2% during the first quarter. Parallel Advisors LLC now owns 368 shares of the medical instruments supplier's stock worth $40,000 after acquiring an additional 226 shares in the last quarter. Institutional investors own 99.04% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on GKOS. HC Wainwright raised their price target on Glaukos from $168.00 to $195.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Glaukos in a research note on Friday, July 17th. Wall Street Zen upgraded Glaukos from a "hold" rating to a "buy" rating in a research report on Saturday, August 1st. Truist Financial upped their target price on Glaukos from $180.00 to $215.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Finally, Stifel Nicolaus raised their target price on Glaukos from $175.00 to $190.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Twelve equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $177.33.

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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