Glaukos Co. (NYSE:GKOS) Shares Acquired by HighTower Advisors LLC

HighTower Advisors LLC raised its stake in shares of Glaukos Co. (NYSE:GKOS) by 3.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,207 shares of the medical instruments supplier’s stock after buying an additional 103 shares during the period. HighTower Advisors LLC’s holdings in Glaukos were worth $416,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GKOS. Point72 Asset Management L.P. bought a new position in shares of Glaukos in the second quarter valued at approximately $67,460,000. Primecap Management Co. CA increased its position in shares of Glaukos by 43.9% during the 2nd quarter. Primecap Management Co. CA now owns 1,220,815 shares of the medical instruments supplier’s stock valued at $144,483,000 after purchasing an additional 372,180 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Glaukos by 148.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 412,376 shares of the medical instruments supplier’s stock worth $48,805,000 after buying an additional 246,322 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Glaukos by 47.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 641,761 shares of the medical instruments supplier’s stock worth $83,609,000 after buying an additional 207,338 shares in the last quarter. Finally, Driehaus Capital Management LLC lifted its holdings in shares of Glaukos by 24.0% in the second quarter. Driehaus Capital Management LLC now owns 803,650 shares of the medical instruments supplier’s stock valued at $95,112,000 after buying an additional 155,653 shares during the period. 99.04% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Stifel Nicolaus lifted their target price on Glaukos from $145.00 to $153.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Truist Financial boosted their target price on shares of Glaukos from $152.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday. StockNews.com upgraded shares of Glaukos from a “sell” rating to a “hold” rating in a report on Monday, October 21st. Citigroup raised Glaukos from a “neutral” rating to a “buy” rating and upped their price target for the company from $132.00 to $162.00 in a report on Wednesday, December 11th. Finally, Wells Fargo & Company raised their price objective on Glaukos from $145.00 to $153.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $145.92.

Insider Activity at Glaukos

In related news, Director Gilbert H. Kliman sold 2,000 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $144.01, for a total value of $288,020.00. Following the completion of the transaction, the director now directly owns 32,336 shares of the company’s stock, valued at $4,656,707.36. This trade represents a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Joseph E. Gilliam sold 2,275 shares of the stock in a transaction 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 completion of the transaction, the chief operating officer now owns 102,169 shares of the company’s stock, valued at approximately $14,198,425.93. This represents a 2.18 % decrease in their position. The disclosure for this sale can be found here. Insiders own 6.40% of the company’s stock.

Glaukos Stock Performance

Shares of GKOS opened at $150.88 on Friday. The company has a market capitalization of $8.32 billion, a PE ratio of -49.96 and a beta of 1.03. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.71 and a current ratio of 5.54. The company’s 50 day moving average price is $138.05 and its 200 day moving average price is $128.12. Glaukos Co. has a 52 week low of $74.75 and a 52 week high of $151.12.

Glaukos (NYSE:GKOS) last posted its quarterly earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) EPS for the quarter, beating 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 business had revenue of $96.70 million for the quarter, compared to analysts’ expectations of $91.50 million. During the same period in the previous year, the company posted ($0.50) EPS. Glaukos’s revenue was up 23.9% on a year-over-year basis. Research analysts expect that Glaukos Co. will post -1.89 EPS for the current fiscal 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.