Short Interest in Glaukos Co. (NYSE:GKOS) Drops By 5.3%

Glaukos Co. (NYSE:GKOS) was the target of a large decline in short interest in the month of November. As of November 30th, there was short interest totalling 2,660,000 shares, a decline 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.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Piper Sandler set a $140.00 price objective on Glaukos in a research report on Thursday, October 17th. Stephens raised shares of Glaukos to a “strong-buy” rating in a report on Monday, December 2nd. Wells Fargo & Company increased their price objective on shares of Glaukos from $145.00 to $153.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Truist Financial boosted their target price on shares of Glaukos from $152.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, UBS Group started coverage on shares of Glaukos in a research note on Friday, December 6th. They issued a “buy” rating and a $182.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Glaukos currently has a consensus rating of “Moderate Buy” and an average target price of $145.92.

Insider Activity

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

Hedge Funds Weigh In On Glaukos

A number of institutional investors have recently bought and sold shares of GKOS. Exome Asset Management LLC acquired a new stake in shares of Glaukos during the 3rd quarter worth approximately $3,369,000. Franklin Resources Inc. grew its position in Glaukos by 80.1% in the third quarter. Franklin Resources Inc. now owns 15,621 shares of the medical instruments supplier’s stock worth $2,031,000 after acquiring an additional 6,948 shares during the period. Tidal Investments LLC increased its stake in Glaukos by 83.1% during the third quarter. Tidal Investments LLC now owns 14,908 shares of the medical instruments supplier’s stock worth $1,942,000 after acquiring an additional 6,767 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in Glaukos in the third quarter valued at $258,000. Finally, Teachers Retirement System of The State of Kentucky raised its position in Glaukos by 84.3% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 28,470 shares of the medical instruments supplier’s stock valued at $3,709,000 after purchasing an additional 13,019 shares during the period. 99.04% of the stock is owned by hedge funds and other institutional investors.

Glaukos Price Performance

GKOS stock opened at $145.14 on Thursday. Glaukos has a 1 year low of $74.75 and a 1 year high of $147.65. The company has a debt-to-equity ratio of 0.19, a current ratio of 5.54 and a quick ratio of 4.71. The firm has a market capitalization of $8.00 billion, a PE ratio of -48.06 and a beta of 1.03. The business has a 50 day simple moving average of $136.95 and a 200-day simple moving average of $127.52.

Glaukos (NYSE:GKOS) last issued its earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.48) by $0.20. Glaukos had a negative return on equity of 18.99% and a negative net margin of 42.43%. The company had revenue of $96.70 million during the quarter, compared to analysts’ expectations of $91.50 million. During the same period in the prior year, the business earned ($0.50) EPS. The firm’s quarterly revenue was up 23.9% on a year-over-year basis. Equities research analysts anticipate that Glaukos will post -1.89 earnings per share for the current fiscal year.

About Glaukos

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.