Fmr LLC Cuts Stake in Glaukos Co. (NYSE:GKOS)

Fmr LLC reduced its position in Glaukos Co. (NYSE:GKOS) by 39.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,584,488 shares of the medical instruments supplier’s stock after selling 4,203,431 shares during the quarter. Fmr LLC owned 11.94% of Glaukos worth $857,827,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in GKOS. O Shaughnessy Asset Management LLC bought a new position in shares of Glaukos during the first quarter valued at approximately $294,000. Cetera Advisors LLC purchased a new position in shares of Glaukos in the 1st quarter valued at $213,000. Opaleye Management Inc. bought a new position in shares of Glaukos in the 1st quarter worth $809,000. GAMMA Investing LLC lifted its stake in shares of Glaukos by 68.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,192 shares of the medical instruments supplier’s stock worth $141,000 after purchasing an additional 486 shares during the last quarter. Finally, LVW Advisors LLC purchased a new stake in shares of Glaukos during the 2nd quarter worth $213,000. 99.04% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. StockNews.com upgraded shares of Glaukos from a “sell” rating to a “hold” rating in a report on Monday, October 21st. Piper Sandler set a $140.00 price objective on shares of Glaukos in a research note on Thursday, October 17th. JPMorgan Chase & Co. raised their target price on shares of Glaukos from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. BTIG Research upped their price target on Glaukos from $140.00 to $149.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Stifel Nicolaus increased their price objective on Glaukos from $130.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $135.45.

Insider Buying and Selling

In other news, COO Joseph E. Gilliam sold 2,275 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $138.97, for a total transaction of $316,156.75. Following the sale, the chief operating officer now owns 102,169 shares of the company’s stock, valued at $14,198,425.93. This trade represents a 2.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gilbert H. Kliman sold 3,000 shares of the business’s stock in a transaction 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 owns 32,336 shares of the company’s stock, valued at approximately $4,225,345.12. This represents a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.40% of the stock is currently owned by corporate insiders.

Glaukos Stock Up 1.4 %

Shares of GKOS stock opened at $142.68 on Thursday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.71 and a current ratio of 5.54. Glaukos Co. has a fifty-two week low of $59.58 and a fifty-two week high of $146.86. The firm has a market capitalization of $7.87 billion, a PE ratio of -47.25 and a beta of 1.02. The stock’s 50-day simple moving average is $133.15 and its 200-day simple moving average is $124.27.

Glaukos (NYSE:GKOS) last issued its quarterly earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share 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 for the quarter, compared to the consensus estimate of $91.50 million. During the same quarter in the prior year, the company earned ($0.50) EPS. Glaukos’s quarterly revenue was up 23.9% on a year-over-year basis. Equities analysts expect that Glaukos Co. will post -1.96 earnings per share for the current year.

Glaukos 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.