Glaukos (NYSE:GKOS) CEO Sells $21,498,675.00 in Stock

Glaukos Corporation (NYSE:GKOS) CEO Thomas William Burns sold 186,945 shares of the firm’s stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $115.00, for a total value of $21,498,675.00. Following the sale, the chief executive officer owned 153,775 shares in the company, valued at $17,684,125. This trade represents a 54.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Thomas William Burns also recently made the following trade(s):

• On Thursday, January 8th, Thomas William Burns sold 88,055 shares of Glaukos stock. The stock was sold at an average price of $115.00, for a total transaction of $10,126,325.00.

Glaukos Trading Up 2.5%

GKOS traded up $2.95 during midday trading on Tuesday, hitting $123.19. 1,173,552 shares of the company traded hands, compared to its average volume of 559,549. The business has a 50 day simple moving average of $108.62 and a two-hundred day simple moving average of $95.74. Glaukos Corporation has a 52-week low of $73.16 and a 52-week high of $163.71. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.47 and a current ratio of 5.20.

Glaukos (NYSE:GKOS) last released its earnings results on Wednesday, October 29th. The medical instruments supplier reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.11. Glaukos had a negative return on equity of 7.52% and a negative net margin of 18.65%.The business had revenue of $133.54 million for the quarter, compared to the consensus estimate of $122.55 million. During the same quarter last year, the business posted ($0.28) earnings per share. The business’s quarterly revenue was up 38.1% compared to the same quarter last year. As a group, sell-side analysts expect that Glaukos Corporation will post -1.08 EPS for the current year.

Institutional Investors Weigh In On Glaukos

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP raised its position in Glaukos by 10.4% in the third quarter. Wellington Management Group LLP now owns 3,580,670 shares of the medical instruments supplier’s stock worth $292,004,000 after acquiring an additional 336,266 shares in the last quarter. Primecap Management Co. CA grew its stake in shares of Glaukos by 23.3% during the 3rd quarter. Primecap Management Co. CA now owns 2,253,788 shares of the medical instruments supplier’s stock worth $183,796,000 after purchasing an additional 425,790 shares during the period. State Street Corp lifted its stake in shares of Glaukos by 5.3% in the second quarter. State Street Corp now owns 2,090,365 shares of the medical instruments supplier’s stock valued at $215,914,000 after purchasing an additional 105,972 shares during the period. Ameriprise Financial Inc. boosted its holdings in 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 in the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in Glaukos by 38.5% during the third quarter. Alliancebernstein L.P. now owns 1,733,474 shares of the medical instruments supplier’s stock worth $141,365,000 after buying an additional 481,620 shares in the last quarter. 99.04% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on GKOS. JPMorgan Chase & Co. lifted their target price on Glaukos from $110.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Truist Financial lifted their price objective on shares of Glaukos from $120.00 to $145.00 and gave the company a “buy” rating in a report on Thursday, December 18th. Citigroup upped their target price on shares of Glaukos from $113.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Wells Fargo & Company raised their price target on shares of Glaukos from $120.00 to $122.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $125.00 price objective on shares of Glaukos in a research report on Wednesday, January 14th. One equities 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 given a Sell rating to the company’s stock. According to MarketBeat.com, Glaukos has a consensus rating of “Moderate Buy” and an average price target of $127.92.

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.