Oppenheimer Asset Management Inc. Sells 3,974 Shares of Glaukos Co. (NYSE:GKOS)

Oppenheimer Asset Management Inc. cut its stake in Glaukos Co. (NYSE:GKOS) by 21.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,680 shares of the medical instruments supplier’s stock after selling 3,974 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Glaukos were worth $1,913,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Point72 Asset Management L.P. purchased a new stake in shares of Glaukos in the second quarter valued at $67,460,000. Primecap Management Co. CA grew its holdings in Glaukos by 43.9% during the 2nd quarter. Primecap Management Co. CA now owns 1,220,815 shares of the medical instruments supplier’s stock valued at $144,483,000 after purchasing an additional 372,180 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Glaukos by 148.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 412,376 shares of the medical instruments supplier’s stock worth $48,805,000 after purchasing an additional 246,322 shares during the period. Iron Triangle Partners LP lifted its stake in Glaukos by 75.6% in the first quarter. Iron Triangle Partners LP now owns 429,525 shares of the medical instruments supplier’s stock worth $40,500,000 after purchasing an additional 184,919 shares during the last quarter. Finally, Driehaus Capital Management LLC boosted its position in shares of Glaukos by 24.0% during the second quarter. Driehaus Capital Management LLC now owns 803,650 shares of the medical instruments supplier’s stock valued at $95,112,000 after buying an additional 155,653 shares during the period. 99.04% of the stock is owned by hedge funds and other institutional investors.

Glaukos Trading Down 0.1 %

Shares of NYSE:GKOS opened at $138.44 on Friday. The company has a current ratio of 5.54, a quick ratio of 4.71 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $7.63 billion, a PE ratio of -45.84 and a beta of 1.02. Glaukos Co. has a 12-month low of $59.22 and a 12-month high of $145.84. The business’s fifty day simple moving average is $130.92 and its 200-day simple moving average is $122.40.

Glaukos (NYSE:GKOS) last announced its earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.20. Glaukos had a negative net margin of 42.43% and a negative return on equity of 18.99%. The business had revenue of $96.70 million during the quarter, compared to the consensus estimate of $91.50 million. During the same period in the previous year, the company posted ($0.50) earnings per share. The firm’s revenue was up 23.9% on a year-over-year basis. As a group, equities research analysts predict that Glaukos Co. will post -1.96 earnings per share for the current fiscal year.

Insider Buying and Selling at Glaukos

In other news, COO Joseph E. Gilliam sold 5,000 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $129.36, for a total transaction of $646,800.00. Following the sale, the chief operating officer now owns 102,169 shares in the company, valued at approximately $13,216,581.84. The trade was a 4.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gilbert H. Kliman sold 3,000 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $130.67, for a total transaction of $392,010.00. Following the completion of the transaction, the director now directly owns 32,336 shares of the company’s stock, valued at $4,225,345.12. The trade was a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,275 shares of company stock worth $1,354,967 over the last three months. Corporate insiders own 6.40% of the company’s stock.

Analyst Upgrades and Downgrades

GKOS has been the topic of several recent analyst reports. Needham & Company LLC increased their price target on Glaukos from $131.00 to $137.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Truist Financial lifted their target price on Glaukos from $145.00 to $152.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. BTIG Research raised their price target on shares of Glaukos from $131.00 to $139.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Wells Fargo & Company boosted their price objective on shares of Glaukos from $135.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Finally, Stifel Nicolaus raised their target price on shares of Glaukos from $130.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Glaukos currently has a consensus rating of “Moderate Buy” and an average target price of $134.55.

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.