Insider Selling: Glaukos (NYSE:GKOS) Director Sells $88,005.75 in Stock

Key Points

• Director Leana Wen sold 525 Glaukos shares for approximately $88,006 at an average price of $167.63, reducing her stake by 2.43% to 21,092 shares.
• Glaukos shares rose to $170.90, near their $184.00 52-week high. The company exceeded quarterly expectations, reporting revenue of $185.61 million and a loss of $0.14 per share, while revenue increased 49.6% year over year.
• Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and an average price target of $177.33; institutional investors own 99.04% of the stock.

Glaukos Corporation (NYSE:GKOS - Get Free Report) Director Leana Wen sold 525 shares of the stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $167.63, for a total transaction of $88,005.75. Following the sale, the director owned 21,092 shares in the company, valued at $3,535,651.96. The trade was a 2.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Glaukos Price Performance

Shares of GKOS traded up $4.18 during midday trading on Monday, hitting $170.90. The company's stock had a trading volume of 1,108,283 shares, compared to its average volume of 890,718. The company has a quick ratio of 4.46, a current ratio of 5.04 and a debt-to-equity ratio of 0.10. Glaukos Corporation has a one year low of $73.16 and a one year high of $184.00. The stock has a market capitalization of $10.08 billion, a price-to-earnings ratio of -52.59 and a beta of 0.78. The company's fifty day simple moving average is $138.11 and its two-hundred day simple moving average is $125.17.

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 analysts' consensus estimates of ($0.21) by $0.07. Glaukos had a negative net margin of 30.68% and a negative return on equity of 6.37%. 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 company earned ($0.24) EPS. The firm's quarterly revenue was up 49.6% compared to the same quarter last year. As a group, equities analysts expect that Glaukos Corporation will post -0.41 earnings per share for the current fiscal year.

Institutional Trading of Glaukos

Several institutional investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC raised its holdings in Glaukos by 77.2% during the 1st quarter. Janus Henderson Group PLC now owns 5,348,395 shares of the medical instruments supplier's stock worth $575,844,000 after purchasing an additional 2,329,608 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Glaukos by 10.4% in the 3rd quarter. Wellington Management Group LLP now owns 3,580,670 shares of the medical instruments supplier's stock valued at $292,004,000 after purchasing an additional 336,266 shares during the last quarter. Primecap Management Co. CA boosted its stake in shares of Glaukos by 49.8% in the 4th quarter. Primecap Management Co. CA now owns 3,376,928 shares of the medical instruments supplier's stock valued at $381,289,000 after purchasing an additional 1,123,140 shares during the last quarter. State Street Corp increased its position in shares of Glaukos by 0.9% during the fourth quarter. State Street Corp now owns 2,122,402 shares of the medical instruments supplier's stock worth $239,640,000 after buying an additional 18,040 shares during the period. Finally, Ameriprise Financial Inc. increased its position in shares of Glaukos by 3.5% during the second quarter. Ameriprise Financial Inc. now owns 1,999,252 shares of the medical instruments supplier's stock worth $206,503,000 after buying an additional 68,497 shares during the period. 99.04% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Needham & Company LLC upped their price target on shares of Glaukos from $150.00 to $201.00 and gave the company a "buy" rating in a research report on Thursday. Citigroup lifted their price target on shares of Glaukos from $175.00 to $188.00 and gave the stock a "buy" rating in a report on Thursday. Weiss Ratings reissued a "sell (d-)" rating on shares of Glaukos in a research note on Friday, July 17th. UBS Group initiated coverage on Glaukos in a report on Tuesday, July 28th. They issued a "neutral" rating and a $150.00 price objective for the company. Finally, Wells Fargo & Company raised their target price on Glaukos from $138.00 to $178.00 and gave the stock an "overweight" rating in a research report on Thursday. Twelve investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $177.33.

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.

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