Citigroup Inc. Sells 34,689 Shares of Glaukos Corporation $GKOS

Citigroup Inc. lessened its holdings in shares of Glaukos Corporation (NYSE:GKOS) by 61.3% in the third quarter, according to its most recent filing with the SEC. The firm owned 21,912 shares of the medical instruments supplier’s stock after selling 34,689 shares during the period. Citigroup Inc.’s holdings in Glaukos were worth $1,787,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. AQR Capital Management LLC boosted its position in shares of Glaukos by 2.6% in the 1st quarter. AQR Capital Management LLC now owns 7,788 shares of the medical instruments supplier’s stock worth $766,000 after purchasing an additional 198 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in Glaukos by 1,405.9% in the first quarter. Jones Financial Companies Lllp now owns 2,560 shares of the medical instruments supplier’s stock valued at $252,000 after buying an additional 2,390 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Glaukos by 41.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 229,994 shares of the medical instruments supplier’s stock worth $22,636,000 after buying an additional 67,668 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of Glaukos by 72.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 48,439 shares of the medical instruments supplier’s stock worth $5,003,000 after buying an additional 20,401 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of Glaukos by 6.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 392,542 shares of the medical instruments supplier’s stock worth $40,546,000 after buying an additional 24,284 shares during the period. Institutional investors own 99.04% of the company’s stock.

Insider Buying and Selling at Glaukos

In related news, CEO Thomas William Burns sold 186,945 shares of the firm’s stock in a transaction on Friday, January 16th. The shares were sold at an average price of $115.00, for a total value of $21,498,675.00. Following the completion of the transaction, the chief executive officer owned 153,775 shares of the company’s stock, valued at approximately $17,684,125. This trade represents a 54.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Joseph E. Gilliam sold 10,498 shares of the firm’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $127.68, for a total value of $1,340,384.64. Following the completion of the transaction, the chief operating officer owned 92,366 shares of the company’s stock, valued at $11,793,290.88. The trade was a 10.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 325,000 shares of company stock valued at $37,739,259 in the last three months. 6.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

GKOS has been the topic of a number of analyst reports. Stifel Nicolaus increased their price target on shares of Glaukos from $115.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Truist Financial boosted their price objective on shares of Glaukos from $120.00 to $145.00 and gave the company a “buy” rating in a report on Thursday, December 18th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $138.00 target price on shares of Glaukos in a research note on Friday, January 9th. Wells Fargo & Company increased their target price on shares of Glaukos from $122.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, February 18th. Finally, Wall Street Zen cut shares of Glaukos from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Glaukos currently has a consensus rating of “Moderate Buy” and an average price target of $133.69.

Glaukos Stock Down 3.6%

Shares of Glaukos stock opened at $108.01 on Monday. The business’s 50 day simple moving average is $115.83 and its 200 day simple moving average is $101.01. Glaukos Corporation has a 52-week low of $73.16 and a 52-week high of $130.23. The firm has a market cap of $6.27 billion, a PE ratio of -33.13 and a beta of 0.70. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.06 and a current ratio of 4.69.

Glaukos (NYSE:GKOS) last released its quarterly earnings results on Tuesday, February 17th. The medical instruments supplier reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.06). The firm had revenue of $143.12 million for the quarter, compared to analyst estimates of $132.16 million. Glaukos had a negative return on equity of 7.00% and a negative net margin of 36.99%.The company’s revenue was up 35.6% compared to the same quarter last year. During the same period last year, the company earned ($0.40) EPS. On average, analysts predict that Glaukos Corporation will post -1.08 earnings per share for the current fiscal year.

Glaukos Profile

Glaukos Corporation is a medical technology company specializing in the development, manufacturing and commercialization of innovative therapies for patients with glaucoma and other chronic eye diseases. The company’s core offerings focus on micro-invasive glaucoma surgery (MIGS), designed to reduce intraocular pressure and manage glaucoma more safely and effectively than traditional surgical approaches. Glaukos’s flagship products include the iStent, iStent inject and iStent infinite trabecular micro-bypass stents, which are implanted during cataract surgery to improve aqueous outflow and help control eye pressure.

Beyond its MIGS portfolio, Glaukos has expanded into sustained drug-delivery solutions.