Glaukos Sees Unusually High Options Volume (NYSE:GKOS)

Glaukos Corp (NYSE:GKOS) was the recipient of unusually large options trading on Wednesday. Traders bought 4,784 put options on the stock. This is an increase of 2,603% compared to the average volume of 177 put options.

Several research firms recently commented on GKOS. ValuEngine raised Glaukos from a “buy” rating to a “strong-buy” rating in a report on Friday, November 29th. Wells Fargo & Co downgraded Glaukos from an “overweight” rating to an “underweight” rating and set a $58.00 price target on the stock. in a research report on Thursday. Zacks Investment Research upgraded Glaukos from a “sell” rating to a “hold” rating and set a $76.00 price target on the stock in a research report on Thursday, September 12th. BTIG Research reiterated a “hold” rating on shares of Glaukos in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. set a $90.00 price target on Glaukos and gave the stock a “buy” rating in a research report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $72.89.

In related news, CFO Joseph E. Gilliam sold 4,631 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $59.75, for a total transaction of $276,702.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 8.70% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Metropolitan Life Insurance Co NY lifted its position in shares of Glaukos by 7.2% in the third quarter. Metropolitan Life Insurance Co NY now owns 11,591 shares of the medical instruments supplier’s stock valued at $725,000 after acquiring an additional 774 shares in the last quarter. Man Group plc lifted its position in shares of Glaukos by 75.5% in the third quarter. Man Group plc now owns 117,873 shares of the medical instruments supplier’s stock valued at $7,368,000 after acquiring an additional 50,724 shares in the last quarter. Barclays PLC lifted its position in Glaukos by 169.9% during the third quarter. Barclays PLC now owns 18,930 shares of the medical instruments supplier’s stock worth $1,183,000 after buying an additional 11,916 shares in the last quarter. California State Teachers Retirement System lifted its position in Glaukos by 2.4% during the third quarter. California State Teachers Retirement System now owns 56,198 shares of the medical instruments supplier’s stock worth $3,513,000 after buying an additional 1,321 shares in the last quarter. Finally, State Street Corp lifted its position in Glaukos by 1.6% during the third quarter. State Street Corp now owns 859,037 shares of the medical instruments supplier’s stock worth $53,698,000 after buying an additional 13,698 shares in the last quarter.

GKOS stock traded down $1.25 during mid-day trading on Friday, reaching $55.74. 450,787 shares of the company’s stock were exchanged, compared to its average volume of 391,270. The company has a market cap of $2.09 billion, a price-to-earnings ratio of -150.65 and a beta of 1.65. The stock’s 50 day moving average is $62.57 and its 200 day moving average is $67.53. The company has a debt-to-equity ratio of 0.42, a current ratio of 6.32 and a quick ratio of 5.94. Glaukos has a 12-month low of $50.60 and a 12-month high of $84.65.

Glaukos (NYSE:GKOS) last issued its quarterly earnings results on Wednesday, November 6th. The medical instruments supplier reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.07. The company had revenue of $58.51 million for the quarter, compared to the consensus estimate of $56.96 million. Glaukos had a negative return on equity of 4.01% and a negative net margin of 8.60%. Glaukos’s revenue for the quarter was up 33.2% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.17) earnings per share. On average, research analysts forecast that Glaukos will post -0.35 earnings per share for the current fiscal year.

About Glaukos

Glaukos Corporation, an ophthalmic medical technology and pharmaceutical company, focuses on the development and commercialization of surgical devices and sustained pharmaceutical therapies designed to treat glaucoma. It offers iStent, a micro-bypass stent for insertion in conjunction with cataract surgery for the reduction of intraocular pressure in adult patients with mild-to-moderate open-angle glaucoma; and iStent inject trabecular micro-bypass stent that allows the surgeon to inject stents into various trabecular meshwork locations through a single corneal entry for the reduction of intraocular pressure in mild-to-moderate open-angle glaucoma in combination with cataract surgery.

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