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

Glaukos Co. (NYSE:GKOS) saw a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 2,810,000 shares, an increase of 6.4% from the October 31st total of 2,640,000 shares. Based on an average daily trading volume, of 530,400 shares, the days-to-cover ratio is currently 5.3 days.

Insider Transactions at Glaukos

In other Glaukos news, COO Joseph E. Gilliam sold 2,275 shares of the 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 sale, the chief operating officer now directly owns 102,169 shares in the company, valued at approximately $14,198,425.93. This trade represents a 2.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Gilbert H. Kliman sold 3,000 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $130.67, for a total transaction of $392,010.00. Following the completion of the transaction, the director now directly owns 32,336 shares of the company’s stock, valued at $4,225,345.12. This trade represents a 8.49 % decrease in their position. The disclosure for this sale can be found here. 6.40% of the stock is owned by corporate insiders.

Institutional Trading of Glaukos

A number of hedge funds have recently made changes to their positions in GKOS. Cetera Advisors LLC acquired a new position in shares of Glaukos during the 1st quarter worth approximately $213,000. GAMMA Investing LLC boosted its position in Glaukos by 68.8% during the second quarter. GAMMA Investing LLC now owns 1,192 shares of the medical instruments supplier’s stock worth $141,000 after purchasing an additional 486 shares during the period. LVW Advisors LLC acquired a new position in shares of Glaukos in the second quarter valued at $213,000. Sequoia Financial Advisors LLC bought a new position in shares of Glaukos in the second quarter valued at about $229,000. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Glaukos during the 2nd quarter worth about $6,832,000. 99.04% of the stock is owned by institutional investors and hedge funds.

Glaukos Price Performance

Shares of GKOS opened at $136.00 on Wednesday. The company has a current ratio of 5.54, a quick ratio of 4.71 and a debt-to-equity ratio of 0.19. The company’s fifty day simple moving average is $134.52 and its 200 day simple moving average is $125.35. Glaukos has a 1-year low of $59.58 and a 1-year high of $146.86. The company has a market cap of $7.50 billion, a price-to-earnings ratio of -45.03 and a beta of 1.03.

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 analysts’ consensus estimates of ($0.48) by $0.20. Glaukos had a negative net margin of 42.43% and a negative return on equity of 18.99%. The company had revenue of $96.70 million for the quarter, compared to analysts’ expectations of $91.50 million. During the same period in the prior year, the firm earned ($0.50) EPS. Glaukos’s quarterly revenue was up 23.9% compared to the same quarter last year. On average, research analysts forecast that Glaukos will post -1.91 earnings per share for the current fiscal year.

Analyst Ratings Changes

GKOS has been the subject of several research analyst reports. Wells Fargo & Company upped their price target on shares of Glaukos from $135.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. BTIG Research upped their target price on shares of Glaukos from $140.00 to $149.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. StockNews.com raised Glaukos from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. Piper Sandler set a $140.00 price target on Glaukos in a report on Thursday, October 17th. Finally, Truist Financial increased their price objective on Glaukos from $145.00 to $152.00 and gave the stock a “buy” rating in a report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Glaukos presently has an average rating of “Moderate Buy” and an average price target of $136.18.

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.