Glaukos (NYSE:GKOS) Stock Price Down 2.3% on Insider Selling

Shares of Glaukos Co. (NYSE:GKOSGet Free Report) were down 2.3% on Wednesday after an insider sold shares in the company. The company traded as low as $118.69 and last traded at $118.93. Approximately 24,301 shares changed hands during mid-day trading, a decline of 96% from the average daily volume of 587,066 shares. The stock had previously closed at $121.75.

Specifically, CFO Alex R. Thurman sold 442 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $105.69, for a total transaction of $46,714.98. Following the completion of the sale, the chief financial officer now directly owns 52,090 shares of the company’s stock, valued at $5,505,392.10. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Glaukos news, CFO Alex R. Thurman sold 353 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $110.51, for a total value of $39,010.03. Following the completion of the sale, the chief financial officer now owns 51,647 shares of the company’s stock, valued at $5,707,509.97. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Alex R. Thurman sold 442 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $105.69, for a total value of $46,714.98. Following the completion of the sale, the chief financial officer now directly owns 52,090 shares of the company’s stock, valued at approximately $5,505,392.10. The disclosure for this sale can be found here. Insiders sold a total of 21,444 shares of company stock valued at $2,411,171 over the last three months. 6.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Citigroup downgraded Glaukos from a “buy” rating to a “neutral” rating and raised their target price for the company from $130.00 to $132.00 in a report on Wednesday. Mizuho lifted their price target on Glaukos from $85.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Needham & Company LLC lifted their price target on Glaukos from $108.00 to $113.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. StockNews.com raised Glaukos from a “sell” rating to a “hold” rating in a research note on Friday, July 5th. Finally, Truist Financial reaffirmed a “buy” rating and set a $125.00 price target (up previously from $120.00) on shares of Glaukos in a research note on Thursday, May 2nd. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $112.45.

Get Our Latest Stock Report on Glaukos

Glaukos Stock Down 1.3 %

The firm’s 50 day moving average is $112.58 and its two-hundred day moving average is $98.45. The stock has a market cap of $6.05 billion, a price-to-earnings ratio of -41.71 and a beta of 1.06. The company has a current ratio of 5.38, a quick ratio of 4.68 and a debt-to-equity ratio of 0.78.

Glaukos (NYSE:GKOSGet Free Report) last announced its earnings results on Wednesday, May 1st. The medical instruments supplier reported ($0.70) earnings per share for the quarter, missing the consensus estimate of ($0.58) by ($0.12). Glaukos had a negative net margin of 43.15% and a negative return on equity of 24.69%. The firm had revenue of $85.60 million during the quarter, compared to analyst estimates of $79.60 million. During the same period in the previous year, the firm posted ($0.59) EPS. The company’s revenue for the quarter was up 15.8% compared to the same quarter last year. On average, sell-side analysts predict that Glaukos Co. will post -2.24 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. National Bank of Canada FI acquired a new position in shares of Glaukos during the 4th quarter valued at about $46,000. GAMMA Investing LLC acquired a new position in shares of Glaukos during the 4th quarter valued at about $55,000. Quadrant Capital Group LLC increased its stake in shares of Glaukos by 54.8% during the 4th quarter. Quadrant Capital Group LLC now owns 929 shares of the medical instruments supplier’s stock valued at $74,000 after acquiring an additional 329 shares during the last quarter. Caldwell Sutter Capital Inc. increased its stake in shares of Glaukos by 5,860.0% during the 1st quarter. Caldwell Sutter Capital Inc. now owns 1,490 shares of the medical instruments supplier’s stock valued at $140,000 after acquiring an additional 1,465 shares during the last quarter. Finally, Cetera Advisors LLC acquired a new stake in Glaukos during the 1st quarter worth approximately $213,000. Institutional investors and hedge funds own 99.04% of the company’s stock.

About Glaukos

(Get Free Report)

Glaukos Corporation, an ophthalmic pharmaceutical and medical technology company, focuses on the development of novel therapies for the treatment of glaucoma, corneal disorders, and retinal diseases. It offers iStent and iStent inject W micro-bypass stents that enhance aqueous humor outflow inserted in cataract surgery to treat mild-to-moderate open-angle glaucoma.

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