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

Glaukos Co. (NYSE:GKOS) was the target of 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 trading volume of 530,400 shares, the short-interest ratio is presently 5.3 days.

Glaukos Stock Down 3.9 %

Shares of GKOS traded down $5.45 during mid-day trading on Tuesday, reaching $133.63. 157,046 shares of the stock traded hands, compared to its average volume of 567,896. The firm has a market cap of $7.37 billion, a price-to-earnings ratio of -45.11 and a beta of 1.03. The stock has a fifty day simple moving average of $134.36 and a 200 day simple moving average of $125.16. The company has a quick ratio of 4.71, a current ratio of 5.54 and a debt-to-equity ratio of 0.19. Glaukos has a 12-month low of $59.58 and a 12-month high of $146.86.

Glaukos (NYSE:GKOS) last announced its 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 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 the consensus estimate of $91.50 million. During the same period last year, the firm earned ($0.50) earnings per share. The company’s revenue was up 23.9% on a year-over-year basis. Sell-side analysts expect that Glaukos will post -1.91 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Morgan Stanley cut shares of Glaukos from an “equal weight” rating to an “underweight” rating and set a $120.00 price target on the stock. in a research note on Monday. Wells Fargo & Company increased their price target on Glaukos from $135.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Piper Sandler set a $140.00 price objective on Glaukos in a research report on Thursday, October 17th. Truist Financial increased their price objective on shares of Glaukos from $145.00 to $152.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Finally, StockNews.com raised shares of Glaukos from a “sell” rating to a “hold” rating in a research report on Monday, October 21st. One 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $136.18.

Insider Buying and Selling

In related news, 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 completion of the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gilbert H. Kliman sold 3,000 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $130.67, for a total value of $392,010.00. Following the sale, the director now owns 32,336 shares in the company, valued at approximately $4,225,345.12. This trade represents a 8.49 % decrease in their position. The disclosure for this sale can be found here. Insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. HighTower Advisors LLC raised its position in shares of Glaukos by 3.3% during the 3rd quarter. HighTower Advisors LLC now owns 3,207 shares of the medical instruments supplier’s stock valued at $416,000 after acquiring an additional 103 shares in the last quarter. EFG Asset Management North America Corp. raised its holdings in shares of Glaukos by 0.5% during the second quarter. EFG Asset Management North America Corp. now owns 27,205 shares of the medical instruments supplier’s stock worth $3,216,000 after purchasing an additional 128 shares during the period. Values First Advisors Inc. bought a new position in shares of Glaukos in the 3rd quarter worth about $25,000. New York State Teachers Retirement System boosted its holdings in shares of Glaukos by 0.4% in the 3rd quarter. New York State Teachers Retirement System now owns 48,143 shares of the medical instruments supplier’s stock valued at $6,272,000 after buying an additional 200 shares during the period. Finally, KBC Group NV raised its stake in Glaukos by 16.2% during the third quarter. KBC Group NV now owns 1,445 shares of the medical instruments supplier’s stock worth $188,000 after acquiring an additional 201 shares during the period. 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.