Insider Selling: Glaukos (NYSE:GKOS) CFO Sells $160,070.04 in Stock

Glaukos Corporation (NYSE:GKOS) CFO Alex Thurman sold 1,521 shares of the company’s stock in a transaction on Tuesday, March 24th. The shares were sold at an average price of $105.24, for a total transaction of $160,070.04. Following the completion of the sale, the chief financial officer directly owned 46,498 shares in the company, valued at $4,893,449.52. This trade represents a 3.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Glaukos Stock Down 4.3%

NYSE:GKOS opened at $103.13 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.69 and a quick ratio of 4.06. The company’s fifty day moving average price is $112.94 and its 200-day moving average price is $101.89. Glaukos Corporation has a 1-year low of $73.16 and a 1-year high of $130.23. The firm has a market capitalization of $5.99 billion, a P/E ratio of -31.63 and a beta of 0.70.

Glaukos (NYSE:GKOS) last posted its earnings results on Tuesday, February 17th. The medical instruments supplier reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.06). The business had revenue of $143.12 million for the quarter, compared to analyst estimates of $132.16 million. Glaukos had a negative net margin of 36.99% and a negative return on equity of 7.00%. The company’s revenue for the quarter was up 35.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.40) earnings per share. As a group, equities research analysts anticipate that Glaukos Corporation will post -1.08 EPS for the current year.

Analyst Ratings Changes

Several analysts recently commented on GKOS shares. BTIG Research reaffirmed a “buy” rating and set a $131.00 target price on shares of Glaukos in a report on Wednesday, February 18th. Wall Street Zen downgraded Glaukos from a “buy” rating to a “hold” rating in a report on Saturday, February 21st. The Goldman Sachs Group restated a “buy” rating and issued a $138.00 price objective on shares of Glaukos in a research report on Friday, January 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Glaukos in a report on Thursday, January 22nd. Finally, Needham & Company LLC boosted their target price on shares of Glaukos from $125.00 to $127.00 and gave the company a “buy” rating in a research note on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $133.69.

Hedge Funds Weigh In On Glaukos

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. UMB Bank n.a. increased its holdings in shares of Glaukos by 102.6% during the 3rd quarter. UMB Bank n.a. now owns 312 shares of the medical instruments supplier’s stock worth $25,000 after buying an additional 158 shares during the last quarter. First Horizon Corp lifted its holdings in Glaukos by 1,715.4% in the fourth 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 last quarter. Los Angeles Capital Management LLC purchased a new position in Glaukos in the fourth quarter worth approximately $28,000. Larson Financial Group LLC grew its position in Glaukos by 62.0% in the fourth quarter. Larson Financial Group LLC now owns 345 shares of the medical instruments supplier’s stock worth $39,000 after acquiring an additional 132 shares during the period. Finally, REAP Financial Group LLC acquired a new stake in Glaukos during the third quarter worth $40,000. Institutional investors and hedge funds own 99.04% of the company’s stock.

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.