Raymond James Financial Inc. Makes New Investment in Glaukos Co. (NYSE:GKOS)

Raymond James Financial Inc. purchased a new stake in shares of Glaukos Co. (NYSE:GKOS) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 112,771 shares of the medical instruments supplier’s stock, valued at approximately $16,910,000. Raymond James Financial Inc. owned about 0.20% of Glaukos at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of GKOS. IFP Advisors Inc purchased a new stake in Glaukos in the fourth quarter valued at approximately $43,000. Asset Planning Inc purchased a new stake in shares of Glaukos during the 4th quarter valued at $90,000. Picton Mahoney Asset Management bought a new stake in shares of Glaukos during the 4th quarter worth $125,000. SBI Securities Co. Ltd. bought a new stake in shares of Glaukos during the 4th quarter worth $153,000. Finally, Smartleaf Asset Management LLC grew its position in Glaukos by 275.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,100 shares of the medical instruments supplier’s stock worth $164,000 after acquiring an additional 807 shares in the last quarter. Hedge funds and other institutional investors own 99.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Needham & Company LLC lifted their price target on Glaukos from $149.00 to $176.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Stifel Nicolaus boosted their target price on Glaukos from $153.00 to $175.00 and gave the stock a “buy” rating in a research report on Tuesday, December 31st. Wells Fargo & Company increased their price target on shares of Glaukos from $153.00 to $160.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Truist Financial lowered their price objective on shares of Glaukos from $185.00 to $140.00 and set a “buy” rating for the company in a report on Friday, April 11th. Finally, Mizuho reduced their target price on shares of Glaukos from $200.00 to $175.00 and set an “outperform” rating on the stock in a report on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.17.

Glaukos Trading Up 1.5 %

GKOS opened at $90.15 on Monday. Glaukos Co. has a one year low of $77.91 and a one year high of $163.71. The company has a debt-to-equity ratio of 0.19, a current ratio of 5.54 and a quick ratio of 4.71. The business has a 50 day simple moving average of $108.10 and a two-hundred day simple moving average of $131.41. The firm has a market capitalization of $5.10 billion, a price-to-earnings ratio of -31.41 and a beta of 0.88.

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

Insider Activity

In other Glaukos news, CFO Alex R. Thurman sold 1,520 shares of the firm’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $106.84, for a total transaction of $162,396.80. Following the completion of the transaction, the chief financial officer now owns 53,431 shares of the company’s stock, valued at approximately $5,708,568.04. This trade represents a 2.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Tomas Navratil sold 3,416 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $147.14, for a total transaction of $502,630.24. Following the completion of the sale, the insider now directly owns 72,437 shares in the company, valued at $10,658,380.18. This represents a 4.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.40% of the company’s stock.

About Glaukos

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.