Glaukos Corporation, a key player in the ophthalmic pharmaceutical and medical technology sector, has recently seen significant institutional trading activity.
Franklin Resources Inc. has increased its stake in Glaukos by 80.1% during the third quarter, while Tidal Investments LLC and The Teachers Retirement System of The State of Kentucky have also increased their holdings. Geode Capital Management LLC has also lifted its holdings. Collectively, institutional investors now control 99.04% of Glaukos' stock.
UBS Group has assigned a "buy" rating and a price target of $182.00 for Glaukos. Truist Financial and BTIG Research have also shown optimism, while Morgan Stanley downgraded Glaukos. The consensus among analysts is a "Moderate Buy" rating, with an average price target of $140.00.
Glaukos recently reported a loss per share for the quarter, but exceeded revenue expectations. The company continues to face challenges in achieving profitability. Glaukos maintains strong liquidity and a conservative approach to leveraging.
Recent insider trading activity has also occurred, with COO Joseph E. Gilliam and Director Gilbert H. Kliman selling shares. These transactions can signal the confidence or concerns of company executives.