Glaukos Corp (NYSE:GKOS) has recently seen notable insider trading activity from its President and Chief Operating Officer, Joseph E. Gilliam. According to the latest Form 4 filing with the SEC, Gilliam has sold a total of 400 shares of common stock over two days, with the sales totaling approximately $38,636.
The transactions occurred on April 3rd and 4th, with 200 shares sold each day. The prices at which the stock was sold ranged between $96.57 and $96.61 per share. This sale follows a pattern of planned trading by Gilliam, as indicated by the footnotes in the filing, which state that the sales were executed according to a Rule 10b5-1 trading plan adopted on March 7, 2023.
In addition to the sales, the filing also reported that Gilliam exercised options to acquire 400 shares of Glaukos Corp common stock at a price of $55.18 per share on the same dates as the sales. The total value for these option exercises amounted to $22,072.
Investors often monitor insider transactions as they can provide insights into the company's performance and insiders' views on the stock's value. In the case of Glaukos Corp, the recent transactions by a top executive may be of interest to current and potential shareholders.
It should be noted that the reported sales represent a relatively small fraction of Gilliam's overall holdings in the company. The filing includes a footnote indicating that Gilliam's total ownership includes 76,419 restricted stock units that have not yet vested or been delivered.
Glaukos Corp specializes in surgical and medical instruments and apparatus, and its stock trades on the New York Stock Exchange under the ticker symbol GKOS. The company, incorporated in Delaware, is based in Aliso Viejo, California, and continues to be a player in the medical device industry.
InvestingPro Insights
Glaukos Corp (NYSE:GKOS), a leader in the medical device industry, has been the subject of investor attention following insider trading activity. To provide further context to these transactions, here are some key financial metrics and insights from InvestingPro.
The company's market capitalization stands at $4.78 billion, reflecting its significant presence in the industry. Despite a challenging profitability outlook, with analysts not expecting the company to be profitable this year, Glaukos has demonstrated a high return over the last year, with the stock price increasing by 100.89% as of the latest available data. This performance is underscored by a strong return of 14.78% over the last month and an even more impressive 22.32% over the last three months.
InvestingPro Data further reveals that Glaukos is trading near its 52-week high, at 98.98% of this benchmark, with a previous close price of $94.12. The company's Price / Book ratio, as of the last twelve months ending Q4 2023, stands at a high 10.36, which may indicate a premium market valuation relative to its book value.
One of the InvestingPro Tips for Glaukos is its liquidity position, where liquid assets exceed short-term obligations, providing some financial flexibility. Additionally, the company operates with a moderate level of debt, which could be a stabilizing factor for risk-averse investors.
For investors seeking more in-depth analysis and additional InvestingPro Tips, including the company's growth prospects and operational metrics, visiting https://www.investing.com/pro/GKOS can provide a wealth of information. There are 11 additional tips listed in InvestingPro that could further inform investment decisions. To access these insights, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
As Glaukos Corp navigates the financial landscape, these insights can help investors better understand the company's potential and the implications of insider trading activities.
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