Raymond James & Associates Sells 1,257 Shares of Glaukos Co. (NYSE:GKOS)

Raymond James & Associates reduced its position in shares of Glaukos Co. (NYSE:GKOS) by 10.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,845 shares of the medical instruments supplier’s stock after selling 1,257 shares during the quarter. Raymond James & Associates’ holdings in Glaukos were worth $772,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its stake in Glaukos by 257.8% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,238 shares of the medical instruments supplier’s stock worth $62,000 after purchasing an additional 892 shares in the last quarter. Captrust Financial Advisors boosted its stake in Glaukos by 17.1% in the 2nd quarter. Captrust Financial Advisors now owns 1,738 shares of the medical instruments supplier’s stock worth $79,000 after purchasing an additional 254 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Glaukos by 28.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,557 shares of the medical instruments supplier’s stock worth $111,000 after purchasing an additional 345 shares in the last quarter. Point72 Middle East FZE bought a new position in Glaukos during the 4th quarter valued at about $189,000. Finally, Two Sigma Advisers LP bought a new position in Glaukos during the 3rd quarter valued at about $207,000. 99.04% of the stock is currently owned by institutional investors.

Glaukos Trading Up 0.1 %

Glaukos stock opened at $64.21 on Monday. The firm has a 50 day moving average of $71.95 and a 200 day moving average of $67.96. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of -23.87 and a beta of 1.20. Glaukos Co. has a 12-month low of $40.45 and a 12-month high of $80.28. The company has a current ratio of 6.28, a quick ratio of 5.66 and a debt-to-equity ratio of 0.72.

Glaukos (NYSE:GKOS) last released its earnings results on Wednesday, November 1st. The medical instruments supplier reported ($0.50) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.56) by $0.06. The company had revenue of $78.05 million during the quarter, compared to analyst estimates of $75.25 million. Glaukos had a negative net margin of 42.61% and a negative return on equity of 20.50%. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.45) EPS. As a group, research analysts predict that Glaukos Co. will post -2.26 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Thomas William Burns sold 45,000 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $71.98, for a total value of $3,239,100.00. Following the completion of the sale, the chief executive officer now directly owns 54,785 shares of the company’s stock, valued at approximately $3,943,424.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 7.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. StockNews.com upgraded shares of Glaukos from a “sell” rating to a “hold” rating in a research note on Monday. Piper Sandler upped their target price on shares of Glaukos from $80.00 to $85.00 and gave the company an “overweight” rating in a research note on Monday, July 31st. Mizuho upped their target price on shares of Glaukos from $80.00 to $85.00 and gave the company a “neutral” rating in a research note on Thursday, August 3rd. Needham & Company LLC lowered their target price on shares of Glaukos from $89.00 to $83.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, BTIG Research increased their price objective on shares of Glaukos from $83.00 to $86.00 in a research note on Thursday, August 3rd. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $80.33.

Glaukos Company Profile

Glaukos Corporation, an ophthalmic medical technology and pharmaceutical company, focuses on the development of novel therapies for the treatment of glaucoma, corneal disorders, and retinal diseases. It offers iStent, iStent inject, iStent inject W micro-bypass stents that enhance aqueous humor outflow inserted in cataract surgery to treat mild-to-moderate open-angle glaucoma.