Cibc World Markets Corp Takes Position in Glaukos Co. (NYSE:GKOS)

Cibc World Markets Corp purchased a new stake in shares of Glaukos Co. (NYSE:GKOS) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,579 shares of the medical instruments supplier’s stock, valued at approximately $687,000.

Several other institutional investors and hedge funds have also made changes to their positions in GKOS. IFP Advisors Inc acquired a new stake in shares of Glaukos during the 4th quarter valued at approximately $43,000. Asset Planning Inc acquired a new stake in shares of Glaukos during the 4th quarter valued at approximately $90,000. Harvest Fund Management Co. Ltd raised its position in shares of Glaukos by 2,263.2% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 898 shares of the medical instruments supplier’s stock valued at $117,000 after acquiring an additional 860 shares in the last quarter. Picton Mahoney Asset Management acquired a new stake in shares of Glaukos during the 4th quarter valued at approximately $125,000. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Glaukos during the 4th quarter valued at approximately $153,000. 99.04% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Morgan Stanley lowered Glaukos from an “equal weight” rating to an “underweight” rating and set a $120.00 target price on the stock. in a research report on Monday, December 2nd. Stephens raised Glaukos to a “strong-buy” rating in a research report on Monday, December 2nd. Piper Sandler reaffirmed an “overweight” rating and issued a $180.00 target price (up from $140.00) on shares of Glaukos in a research report on Monday, January 27th. UBS Group assumed coverage on Glaukos in a research report on Friday, December 6th. They issued a “buy” rating and a $182.00 target price on the stock. Finally, Citigroup raised Glaukos from a “neutral” rating to a “buy” rating and increased their target price for the stock from $132.00 to $162.00 in a research report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $163.25.

Insider Buying and Selling

In related news, insider Tomas Navratil sold 3,416 shares of Glaukos stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $147.14, for a total value of $502,630.24. Following the transaction, the insider now owns 72,437 shares of the company’s stock, valued at approximately $10,658,380.18. This trade represents a 4.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.40% of the stock is currently owned by company insiders.

Glaukos Price Performance

NYSE:GKOS opened at $102.02 on Friday. The business’s 50-day moving average price is $135.32 and its 200 day moving average price is $136.55. The firm has a market cap of $5.77 billion, a P/E ratio of -35.55 and a beta of 0.99. Glaukos Co. has a 52-week low of $87.59 and a 52-week high of $163.71. The company has a quick ratio of 4.71, a current ratio of 5.54 and a debt-to-equity ratio of 0.19.

Glaukos (NYSE:GKOS) last released its earnings results on Thursday, February 20th. The medical instruments supplier reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.02). The firm had revenue of $105.50 million for the quarter, compared to analyst estimates of $100.72 million. Glaukos had a negative return on equity of 16.53% and a negative net margin of 39.04%. As a group, sell-side analysts predict that Glaukos Co. will post -1.08 earnings per share for the current fiscal year.

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.