Key Points
- Director Leana Wen sold 525 Glaukos shares at an average price of $167.63, generating $88,005.75. Her remaining stake is 21,092 shares, a 2.43% reduction.
- Glaukos reported stronger-than-expected quarterly results, with an adjusted loss of $0.14 per share versus the expected $0.21 loss and revenue of $185.61 million, up 49.6% year over year.
- Analyst sentiment remains broadly positive, with 12 Buy, two Hold and one Sell rating; the stock has a “Moderate Buy” consensus and a $177.33 average price target.
Glaukos Corporation (NYSE:GKOS - Get Free Report) Director Leana Wen sold 525 shares of the business's stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $167.63, for a total value of $88,005.75. Following the completion of the transaction, the director directly owned 21,092 shares in the company, valued at approximately $3,535,651.96. This represents a 2.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Glaukos Trading Up 2.5%
Shares of GKOS opened at $170.90 on Tuesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.04 and a quick ratio of 4.46. Glaukos Corporation has a 1 year low of $73.16 and a 1 year high of $184.00. The company has a 50 day simple moving average of $139.11 and a two-hundred day simple moving average of $125.60. The firm has a market cap of $10.08 billion, a P/E ratio of -52.59 and a beta of 0.75.
Glaukos (NYSE:GKOS - Get Free Report) last released its earnings results on Wednesday, July 29th. The medical instruments supplier reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.07. Glaukos had a negative net margin of 30.68% and a negative return on equity of 6.37%. The firm had revenue of $185.61 million for the quarter, compared to the consensus estimate of $150.93 million. During the same quarter in the previous year, the firm earned ($0.24) earnings per share. The company's quarterly revenue was up 49.6% compared to the same quarter last year. On average, equities analysts expect that Glaukos Corporation will post -0.41 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several research analysts have commented on GKOS shares. Weiss Ratings reissued a "sell (d-)" rating on shares of Glaukos in a report on Friday, July 17th. JPMorgan Chase & Co. increased their price target on Glaukos from $120.00 to $140.00 and gave the company an "overweight" rating in a research note on Thursday, April 30th. Wall Street Zen upgraded Glaukos from a "hold" rating to a "buy" rating in a report on Saturday. Needham & Company LLC lifted their price objective on Glaukos from $150.00 to $201.00 and gave the stock a "buy" rating in a research note on Thursday. Finally, William Blair reaffirmed an "outperform" rating on shares of Glaukos in a report on Tuesday, May 26th. Twelve analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Glaukos currently has an average rating of "Moderate Buy" and a consensus target price of $177.33.
Read Our Latest Analysis on GKOS
Institutional Trading of Glaukos
Several hedge funds have recently made changes to their positions in the business. Summit Global Investments bought a new position in shares of Glaukos in the 2nd quarter valued at about $580,000. Oppenheimer Asset Management Inc. bought a new stake in Glaukos during the second quarter worth approximately $2,734,000. Walleye Capital LLC bought a new stake in Glaukos during the second quarter worth approximately $3,750,000. Handelsbanken Fonder AB raised its position in Glaukos by 5.9% during the second quarter. Handelsbanken Fonder AB now owns 19,800 shares of the medical instruments supplier's stock valued at $2,767,000 after purchasing an additional 1,100 shares during the period. Finally, Valeo Financial Advisors LLC raised its position in Glaukos by 4.7% during the second quarter. Valeo Financial Advisors LLC now owns 9,892 shares of the medical instruments supplier's stock valued at $1,383,000 after purchasing an additional 440 shares during the period. 99.04% of the stock is currently owned by hedge funds and other institutional investors.
Glaukos Company Profile
(
Get Free Report)
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.
Further Reading
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