Glaukos Co. (NYSE:GKOS) Short Interest Up 6.4% in November

Glaukos Co. (NYSE:GKOS) was the recipient of a large growth in short interest in the month of 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 daily volume of 530,400 shares, the short-interest ratio is currently 5.3 days.

Glaukos Stock Performance

Shares of GKOS traded down $5.45 during trading hours on Tuesday, reaching $133.63. 157,046 shares of the company traded hands, compared to its average volume of 567,896. Glaukos has a 1-year low of $59.58 and a 1-year high of $146.86. The stock has a market cap of $7.37 billion, a P/E ratio of -45.11 and a beta of 1.03. The stock’s fifty day moving average is $134.36 and its 200 day moving average is $125.16. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.71 and a current ratio of 5.54.

Glaukos (NYSE:GKOS) last released its quarterly earnings data 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. The business had revenue of $96.70 million for the quarter, compared to analysts’ expectations of $91.50 million. Glaukos had a negative return on equity of 18.99% and a negative net margin of 42.43%. Glaukos’s quarterly revenue was up 23.9% on a year-over-year basis. During the same period in the previous year, the business posted ($0.50) earnings per share. Equities research analysts anticipate that Glaukos will post -1.91 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

GKOS has been the topic of several research analyst reports. Piper Sandler set a $140.00 target price on Glaukos in a research note on Thursday, October 17th. Truist Financial increased their target price on shares of Glaukos from $145.00 to $152.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Wells Fargo & Company lifted their target price on shares of Glaukos from $135.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Morgan Stanley lowered Glaukos from an “equal weight” rating to an “underweight” rating and set a $120.00 price objective for the company. in a report on Monday. Finally, JPMorgan Chase & Co. boosted their target price on Glaukos from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $136.18.

Insider Buying and Selling at Glaukos

In other news, Director Gilbert H. Kliman sold 3,000 shares of the company’s stock in a transaction 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 completion of the sale, the director now directly owns 32,336 shares of the company’s stock, valued at $4,225,345.12. This represents a 8.49 % 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, COO Joseph E. Gilliam sold 2,275 shares of Glaukos stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $138.97, for a total transaction of $316,156.75. Following the transaction, the chief operating officer now owns 102,169 shares in the company, valued at approximately $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. 6.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Glaukos

A number of hedge funds and other institutional investors have recently made changes to their positions in GKOS. Values First Advisors Inc. bought a new position in Glaukos during the 3rd quarter valued at about $25,000. Harvest Fund Management Co. Ltd lifted its position in Glaukos by 2,263.2% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 898 shares of the medical instruments supplier’s stock worth $117,000 after buying an additional 860 shares in the last quarter. GAMMA Investing LLC boosted its position in Glaukos by 68.8% in the 2nd quarter. GAMMA Investing LLC now owns 1,192 shares of the medical instruments supplier’s stock valued at $141,000 after buying an additional 486 shares during the last quarter. Fifth Third Wealth Advisors LLC bought a new position in shares of Glaukos in the 2nd quarter worth $187,000. Finally, KBC Group NV lifted its stake 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 buying an additional 201 shares during the period. 99.04% of the stock is owned by institutional investors.

Glaukos Company Profile

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.