Brown Capital Management LLC Has $212.96 Million Stock Position in Glaukos Co. (NYSE:GKOS)

Brown Capital Management LLC lowered its stake in shares of Glaukos Co. (NYSE:GKOS) by 13.9% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,634,591 shares of the medical instruments supplier’s stock after selling 263,365 shares during the period. Glaukos makes up approximately 4.6% of Brown Capital Management LLC’s holdings, making the stock its 4th biggest position. Brown Capital Management LLC’s holdings in Glaukos were worth $212,955,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in GKOS. Assenagon Asset Management S.A. bought a new stake in Glaukos during the second quarter valued at approximately $6,832,000. Natixis bought a new stake in shares of Glaukos during the 1st quarter valued at $614,000. Vanguard Group Inc. grew its position in shares of Glaukos by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 5,308,897 shares of the medical instruments supplier’s stock valued at $500,576,000 after acquiring an additional 72,159 shares during the period. UniSuper Management Pty Ltd purchased a new stake in shares of Glaukos in the 1st quarter worth $913,000. Finally, WCM Investment Management LLC raised its holdings in Glaukos by 45.7% in the 3rd quarter. WCM Investment Management LLC now owns 99,155 shares of the medical instruments supplier’s stock worth $12,721,000 after purchasing an additional 31,084 shares during the period. Hedge funds and other institutional investors own 99.04% of the company’s stock.

Glaukos Stock Down 1.9 %

Shares of NYSE:GKOS opened at $141.44 on Thursday. The company has a market cap of $7.80 billion, a price-to-earnings ratio of -46.83 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 company has a 50-day moving average price of $131.75 and a 200 day moving average price of $123.18. The company has a current ratio of 5.54, a quick ratio of 4.71 and a debt-to-equity ratio of 0.19.

Glaukos (NYSE:GKOS) last posted its quarterly earnings data on Monday, November 4th. The medical instruments supplier reported ($0.28) EPS for the quarter, topping the consensus estimate 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 company had revenue of $96.70 million during the quarter, compared to analyst estimates of $91.50 million. During the same period in the previous year, the firm earned ($0.50) earnings per share. Glaukos’s quarterly revenue was up 23.9% compared to the same quarter last year. As a group, equities research analysts predict that Glaukos Co. will post -1.96 earnings per share for the current year.

Insider Buying and Selling

In other Glaukos news, Director Gilbert H. Kliman sold 3,000 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $130.67, for a total value of $392,010.00. Following the completion of the sale, the director now directly owns 32,336 shares in the company, valued at approximately $4,225,345.12. This represents a 8.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Joseph E. Gilliam sold 2,275 shares of the company’s 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 sale, the chief operating officer now directly owns 102,169 shares of the company’s stock, valued at $14,198,425.93. The trade was a 2.18 % decrease in their position. The disclosure for this sale can be found here. 6.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on GKOS shares. Stifel Nicolaus upped their price target on Glaukos from $130.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. BTIG Research increased their target price on shares of Glaukos from $131.00 to $139.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. StockNews.com raised shares of Glaukos from a “sell” rating to a “hold” rating in a report on Monday, October 21st. JPMorgan Chase & Co. increased their price objective on shares of Glaukos from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Finally, Truist Financial lifted their target price on shares of Glaukos from $145.00 to $152.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average 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.