Glaukos (NYSE:GKOS) CFO Alex Thurman Sells 10,000 Shares of Stock

Glaukos Corporation (NYSE:GKOS) CFO Alex Thurman sold 10,000 shares of the stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $155.00, for a total transaction of $1,550,000.00. Following the completion of the sale, the chief financial officer directly owned 43,681 shares in the company, valued at approximately $6,770,555. This represents a 18.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Glaukos Price Performance

Glaukos stock opened at $152.76 on Tuesday. Glaukos Corporation has a 12-month low of $73.16 and a 12-month high of $156.60. The company has a current ratio of 5.43, a quick ratio of 4.73 and a debt-to-equity ratio of 0.10. The firm has a 50-day moving average price of $132.67 and a 200-day moving average price of $120.98. The firm has a market capitalization of $8.97 billion, a PE ratio of -46.57 and a beta of 0.75.

Glaukos (NYSE:GKOS) last issued its quarterly earnings results on Wednesday, April 29th. The medical instruments supplier reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.12. Glaukos had a negative net margin of 34.34% and a negative return on equity of 6.92%. The company had revenue of $150.57 million for the quarter, compared to the consensus estimate of $137.00 million. During the same period in the prior year, the firm posted ($0.22) EPS. The firm’s revenue was up 41.2% compared to the same quarter last year. As a group, equities research analysts forecast that Glaukos Corporation will post -0.57 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GKOS. Piper Sandler reiterated an “overweight” rating and issued a $165.00 price target on shares of Glaukos in a report on Wednesday, July 1st. William Blair restated an “outperform” rating on shares of Glaukos in a report on Tuesday, May 26th. Citigroup upped their price objective on Glaukos from $162.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Needham & Company LLC increased their target price on Glaukos from $136.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, June 17th. Finally, Wall Street Zen upgraded Glaukos from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. Thirteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $151.77.

Hedge Funds Weigh In On Glaukos

A number of institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC boosted its holdings in shares of Glaukos by 2.6% in the first quarter. AQR Capital Management LLC now owns 7,788 shares of the medical instruments supplier’s stock valued at $766,000 after purchasing an additional 198 shares during the period. Jones Financial Companies Lllp increased its holdings in Glaukos by 1,405.9% during the 1st quarter. Jones Financial Companies Lllp now owns 2,560 shares of the medical instruments supplier’s stock worth $252,000 after purchasing an additional 2,390 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Glaukos by 41.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 229,994 shares of the medical instruments supplier’s stock worth $22,636,000 after purchasing an additional 67,668 shares during the period. M&T Bank Corp bought a new stake in Glaukos during the 2nd quarter valued at $203,000. Finally, Gamco Investors INC. ET AL raised its position in Glaukos by 10.7% during the 2nd quarter. Gamco Investors INC. ET AL now owns 8,001 shares of the medical instruments supplier’s stock valued at $826,000 after purchasing an additional 773 shares in the last quarter. 99.04% of the stock is owned by hedge funds and other institutional investors.

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.