Rhenman & Partners Asset Management AB Reduces Holdings in Glaukos Co. (NYSE:GKOS)

Rhenman & Partners Asset Management AB decreased its position in shares of Glaukos Co. (NYSE:GKOS) by 67.1% in the 4th quarter, Holdings Channel reports. The fund owned 36,531 shares of the medical instruments supplier’s stock after selling 74,469 shares during the quarter. Rhenman & Partners Asset Management AB’s holdings in Glaukos were worth $5,477,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in GKOS. The Manufacturers Life Insurance Company boosted its holdings in Glaukos by 2.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 28,343 shares of the medical instruments supplier’s stock worth $3,693,000 after buying an additional 632 shares during the period. BNP Paribas Financial Markets lifted its position in shares of Glaukos by 186.9% during the third quarter. BNP Paribas Financial Markets now owns 13,726 shares of the medical instruments supplier’s stock worth $1,788,000 after acquiring an additional 8,942 shares in the last quarter. HighTower Advisors LLC boosted its holdings in shares of Glaukos by 3.3% in the third quarter. HighTower Advisors LLC now owns 3,207 shares of the medical instruments supplier’s stock worth $416,000 after acquiring an additional 103 shares during the period. Stifel Financial Corp grew its position in shares of Glaukos by 37.7% in the third quarter. Stifel Financial Corp now owns 4,230 shares of the medical instruments supplier’s stock valued at $551,000 after purchasing an additional 1,157 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Glaukos by 5.3% during the 3rd quarter. State Street Corp now owns 1,954,449 shares of the medical instruments supplier’s stock valued at $254,626,000 after purchasing an additional 98,109 shares during the period. Hedge funds and other institutional investors own 99.04% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on GKOS. Truist Financial raised their target price on Glaukos from $152.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Mizuho raised shares of Glaukos from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $140.00 to $200.00 in a report on Wednesday, February 19th. Citigroup raised shares of Glaukos from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $132.00 to $162.00 in a research note on Wednesday, December 11th. Needham & Company LLC upped their target price on shares of Glaukos from $149.00 to $176.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Finally, Wells Fargo & Company raised their price target on shares of Glaukos from $153.00 to $160.00 and gave the company an “overweight” rating in a report on Friday, February 21st. One analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Glaukos currently has a consensus rating of “Moderate Buy” and a consensus target price of $163.25.

Insiders Place Their Bets

In other news, insider Tomas Navratil sold 3,416 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $147.14, for a total value of $502,630.24. Following the completion of the sale, the insider now owns 72,437 shares of the company’s stock, valued at approximately $10,658,380.18. This represents a 4.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Alex R. Thurman sold 1,520 shares of Glaukos 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 in the company, valued at approximately $5,708,568.04. The trade was a 2.77 % decrease in their position. The disclosure for this sale can be found here. 6.40% of the stock is owned by insiders.

Glaukos Stock Down 3.9 %

Shares of NYSE:GKOS opened at $83.62 on Friday. The firm has a market capitalization of $4.73 billion, a PE ratio of -29.14 and a beta of 0.99. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.71 and a current ratio of 5.54. Glaukos Co. has a 52-week low of $77.91 and a 52-week high of $163.71. The firm has a fifty day moving average of $123.88 and a 200 day moving average of $134.52.

Glaukos (NYSE:GKOS) last issued its quarterly earnings results on Thursday, February 20th. The medical instruments supplier reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.02). The firm had revenue of $105.50 million for the quarter, compared to the consensus estimate of $100.72 million. Glaukos had a negative return on equity of 16.53% and a negative net margin of 39.04%. As a group, research analysts anticipate that Glaukos Co. will post -1.08 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.