Short Interest in Glaukos Co. (NYSE:GKOS) Increases By 6.4%

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

Insider Activity

In other Glaukos news, Director Gilbert H. Kliman sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $130.67, for a total transaction of $392,010.00. Following the sale, the director now directly owns 32,336 shares of the company’s stock, valued at $4,225,345.12. The trade was a 8.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Joseph E. Gilliam sold 2,275 shares of the business’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 value of $316,156.75. Following the sale, the chief operating officer now directly owns 102,169 shares in the company, valued at $14,198,425.93. The trade was a 2.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Glaukos

Hedge funds have recently made changes to their positions in the company. Assenagon Asset Management S.A. acquired a new position in shares of Glaukos in the 2nd quarter valued at $6,832,000. WCM Investment Management LLC grew its position in Glaukos by 45.7% during the 3rd quarter. WCM Investment Management LLC now owns 99,155 shares of the medical instruments supplier’s stock worth $12,721,000 after purchasing an additional 31,084 shares during the period. First Turn Management LLC acquired a new stake in Glaukos during the 3rd quarter worth about $12,520,000. Victory Capital Management Inc. grew its position in Glaukos by 421.8% during the 3rd quarter. Victory Capital Management Inc. now owns 79,211 shares of the medical instruments supplier’s stock worth $10,320,000 after purchasing an additional 64,031 shares during the period. Finally, Seven Eight Capital LP acquired a new stake in Glaukos during the 2nd quarter worth about $1,940,000. 99.04% of the stock is owned by institutional investors and hedge funds.

Glaukos Stock Performance

Shares of GKOS opened at $138.27 on Thursday. Glaukos has a 12 month low of $59.58 and a 12 month high of $146.86. The stock has a fifty day moving average price of $134.76 and a 200-day moving average price of $125.44. 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 firm has a market cap of $7.62 billion, a PE ratio of -45.78 and a beta of 1.03.

Glaukos (NYSE:GKOS) last issued its quarterly earnings data on Monday, November 4th. The medical instruments supplier reported ($0.28) 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 firm had revenue of $96.70 million during the quarter, compared to analyst estimates of $91.50 million. During the same quarter in the prior year, the business posted ($0.50) EPS. The business’s revenue for the quarter was up 23.9% compared to the same quarter last year. Equities research analysts predict that Glaukos will post -1.91 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on GKOS. Truist Financial boosted their price objective on Glaukos from $145.00 to $152.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. BTIG Research upped their target price on Glaukos from $140.00 to $149.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. StockNews.com upgraded Glaukos from a “sell” rating to a “hold” rating in a report on Monday, October 21st. Stifel Nicolaus upped their target price on Glaukos from $145.00 to $153.00 and gave the stock a “buy” rating in a report on Monday. Finally, Piper Sandler set a $140.00 target price on Glaukos in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently 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.