Glaukos Co. (NYSE:GKOS) Short Interest Down 5.3% in November

Glaukos Co. (NYSE:GKOS) saw a significant drop in short interest in 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 presently 5.1 days.

Glaukos Trading Up 3.7 %

NYSE:GKOS opened at $144.13 on Tuesday. 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 business’s 50-day simple moving average is $136.61 and its 200-day simple moving average is $127.28. Glaukos has a fifty-two week low of $74.75 and a fifty-two week high of $147.65. The stock has a market capitalization of $7.95 billion, a PE ratio of -47.73 and a beta of 1.03.

Glaukos (NYSE:GKOS) last released its quarterly earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $91.50 million. During the same quarter in the prior year, the company earned ($0.50) earnings per share. The business’s quarterly revenue was up 23.9% compared to the same quarter last year. Sell-side analysts expect that Glaukos will post -1.89 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. UBS Group initiated coverage on Glaukos in a report on Friday, December 6th. They set a “buy” rating and a $182.00 price objective for the company. Truist Financial increased their price objective on shares of Glaukos from $145.00 to $152.00 and gave the company a “buy” rating in a report on Monday, October 14th. Citigroup raised shares of Glaukos from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $132.00 to $162.00 in a report on Wednesday, December 11th. Stifel Nicolaus increased their price target on Glaukos from $145.00 to $153.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Finally, Stephens raised Glaukos to a “strong-buy” rating in a research note on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.17.

Insider Activity

In related news, COO Joseph E. Gilliam sold 2,275 shares of the firm’s stock in a transaction that occurred 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 sale, the chief operating officer now owns 102,169 shares of the company’s stock, valued at $14,198,425.93. This trade represents a 2.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gilbert H. Kliman sold 2,000 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $144.01, for a total value of $288,020.00. Following the transaction, the director now directly owns 32,336 shares in the company, valued at approximately $4,656,707.36. This represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. 6.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Glaukos

A number of institutional investors have recently modified their holdings of the company. Values First Advisors Inc. acquired a new stake in Glaukos in the 3rd quarter valued at approximately $25,000. Harvest Fund Management Co. Ltd raised its holdings in shares of Glaukos by 2,263.2% in the third quarter. Harvest Fund Management Co. Ltd now owns 898 shares of the medical instruments supplier’s stock valued at $117,000 after purchasing an additional 860 shares during the last quarter. Fifth Third Wealth Advisors LLC bought a new stake in shares of Glaukos in the second quarter worth $187,000. KBC Group NV grew its position in Glaukos by 16.2% in the third quarter. KBC Group NV now owns 1,445 shares of the medical instruments supplier’s stock valued at $188,000 after purchasing an additional 201 shares in the last quarter. Finally, Brighton Jones LLC acquired a new stake in Glaukos in the 2nd quarter valued at $208,000. 99.04% of the stock is currently owned by institutional investors.

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.