Glaukos Co. (NYSE:GKOS) Sees Significant Decline in Short Interest

Glaukos Co. (NYSE:GKOS - Get Free Report) saw a significant drop in short interest in the month of November. As of November 30th, there was short interest totalling 2,660,000 shares, a drop of 5.3% from the November 15th total of 2,810,000 shares. Based on an average daily trading volume, of 526,000 shares, the days-to-cover ratio is currently 5.1 days.

Insiders Place Their Bets

In other news, Director Gilbert H. Kliman sold 2,000 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $144.01, for a total value of $288,020.00. Following the completion of the sale, the director now directly owns 32,336 shares of the company's stock, valued at $4,656,707.36. This represents a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Joseph E. Gilliam sold 2,275 shares of the firm's stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $138.97, for a total transaction of $316,156.75. Following the sale, the chief operating officer now owns 102,169 shares of the company's stock, valued at approximately $14,198,425.93. This represents a 2.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 6.40% of the company's stock.

Institutional Trading of Glaukos

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Values First Advisors Inc. bought a new position in shares of Glaukos during the 3rd quarter worth about $25,000. Harvest Fund Management Co. Ltd increased its stake in Glaukos by 2,263.2% during the third quarter. Harvest Fund Management Co. Ltd now owns 898 shares of the medical instruments supplier's stock valued at $117,000 after acquiring an additional 860 shares during the period. KBC Group NV raised its holdings in Glaukos by 16.2% in the 3rd quarter. KBC Group NV now owns 1,445 shares of the medical instruments supplier's stock valued at $188,000 after acquiring an additional 201 shares in the last quarter. EWA LLC bought a new stake in shares of Glaukos in the 3rd quarter worth approximately $209,000. Finally, Fifth Third Wealth Advisors LLC acquired a new stake in shares of Glaukos during the 2nd quarter worth approximately $187,000. Institutional investors and hedge funds own 99.04% of the company's stock.

Glaukos Stock Performance

Shares of Glaukos stock traded up $2.23 on Tuesday, reaching $146.36. The stock had a trading volume of 703,556 shares, compared to its average volume of 570,555. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.71 and a current ratio of 5.54. The business's 50-day moving average price is $136.61 and its two-hundred day moving average price is $127.28. The stock has a market cap of $8.07 billion, a P/E ratio of -48.46 and a beta of 1.03. Glaukos has a fifty-two week low of $74.75 and a fifty-two week high of $147.65.

Glaukos (NYSE:GKOS - Get Free Report) last released its earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share for the quarter, topping analysts' consensus estimates of ($0.48) by $0.20. The firm had revenue of $96.70 million during the quarter, compared to analyst estimates of $91.50 million. Glaukos had a negative net margin of 42.43% and a negative return on equity of 18.99%. The business's revenue was up 23.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.50) EPS. On average, sell-side analysts forecast that Glaukos will post -1.89 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on GKOS shares. JPMorgan Chase & Co. boosted their price target on shares of Glaukos from $130.00 to $145.00 and gave the company an "overweight" rating in a report on Tuesday, November 5th. Citigroup upgraded Glaukos from a "neutral" rating to a "buy" rating and boosted their target price for the company from $132.00 to $162.00 in a research note on Wednesday, December 11th. Truist Financial raised their price target on Glaukos from $145.00 to $152.00 and gave the stock a "buy" rating in a research note on Monday, October 14th. Stephens raised Glaukos to a "strong-buy" rating in a research note on Monday, December 2nd. Finally, Morgan Stanley downgraded Glaukos from an "equal weight" rating to an "underweight" rating and set a $120.00 price objective on the stock. in a report on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Glaukos presently has a consensus rating of "Moderate Buy" and an average price target of $143.17.

Glaukos Company Profile

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.