Jennison Associates LLC Acquires New Position in Glaukos Co. (NYSE:GKOS)

Jennison Associates LLC acquired a new stake in Glaukos Co. (NYSE:GKOS) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 7,649 shares of the medical instruments supplier’s stock, valued at approximately $608,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GKOS. Xponance Inc. grew its holdings in shares of Glaukos by 4.1% during the fourth quarter. Xponance Inc. now owns 2,879 shares of the medical instruments supplier’s stock valued at $229,000 after purchasing an additional 113 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of Glaukos by 2.1% during the third quarter. Arizona State Retirement System now owns 13,040 shares of the medical instruments supplier’s stock valued at $981,000 after purchasing an additional 264 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Glaukos by 17.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,827 shares of the medical instruments supplier’s stock valued at $137,000 after purchasing an additional 270 shares during the last quarter. Mariner LLC grew its holdings in shares of Glaukos by 7.1% during the third quarter. Mariner LLC now owns 6,218 shares of the medical instruments supplier’s stock valued at $468,000 after purchasing an additional 411 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Glaukos by 2.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,542 shares of the medical instruments supplier’s stock valued at $1,951,000 after purchasing an additional 610 shares during the last quarter. 99.04% of the stock is owned by institutional investors.

Glaukos Stock Performance

GKOS opened at $99.48 on Monday. The company has a market capitalization of $4.99 billion, a price-to-earnings ratio of -35.78 and a beta of 1.08. The company has a debt-to-equity ratio of 0.77, a current ratio of 5.34 and a quick ratio of 4.78. Glaukos Co. has a 1-year low of $45.38 and a 1-year high of $103.66. The business has a 50 day moving average price of $92.42 and a two-hundred day moving average price of $81.88.

Glaukos (NYSE:GKOS) last released its earnings results on Wednesday, February 21st. The medical instruments supplier reported ($0.63) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.07). The firm had revenue of $82.40 million during the quarter, compared to analyst estimates of $81.00 million. Glaukos had a negative return on equity of 22.67% and a negative net margin of 42.79%. The business’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same quarter last year, the company earned ($0.53) earnings per share. Research analysts predict that Glaukos Co. will post -2.18 EPS for the current fiscal year.

Insider Activity

In other news, CFO Alex R. Thurman sold 434 shares of the stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $95.33, for a total transaction of $41,373.22. Following the completion of the sale, the chief financial officer now owns 54,166 shares in the company, valued at approximately $5,163,644.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Glaukos news, COO Joseph E. Gilliam sold 59,801 shares of the business’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $100.47, for a total transaction of $6,008,206.47. Following the sale, the chief operating officer now directly owns 101,845 shares of the company’s stock, valued at approximately $10,232,367.15. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Alex R. Thurman sold 434 shares of the business’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $95.33, for a total transaction of $41,373.22. Following the sale, the chief financial officer now directly owns 54,166 shares in the company, valued at $5,163,644.78. The disclosure for this sale can be found here. In the last 90 days, insiders sold 232,881 shares of company stock worth $21,965,491. Insiders own 6.40% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on GKOS shares. Stifel Nicolaus reaffirmed a “buy” rating and set a $110.00 target price on shares of Glaukos in a report on Wednesday, April 3rd. StockNews.com downgraded Glaukos from a “hold” rating to a “sell” rating in a research report on Tuesday, February 27th. Truist Financial reiterated a “buy” rating and set a $110.00 price objective on shares of Glaukos in a research report on Monday, April 8th. Wells Fargo & Company boosted their price objective on Glaukos from $83.00 to $103.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. Finally, Mizuho boosted their price objective on Glaukos from $85.00 to $100.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Glaukos currently has a consensus rating of “Moderate Buy” and an average price target of $99.80.

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.