Maryland State Retirement & Pension System Trims Holdings in Glaukos Co. (NYSE:GKOS)

Maryland State Retirement & Pension System lowered its position in Glaukos Co. (NYSE:GKOS) by 0.7% during the first quarter, Holdings Channel.com reports. The institutional investor owned 17,585 shares of the medical instruments supplier’s stock after selling 122 shares during the period. Maryland State Retirement & Pension System’s holdings in Glaukos were worth $1,715,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of GKOS. National Bank of Canada FI acquired a new position in shares of Glaukos in the 4th quarter valued at about $46,000. GAMMA Investing LLC purchased a new stake in Glaukos in the 4th quarter worth approximately $55,000. Quadrant Capital Group LLC grew its stake in shares of Glaukos by 54.8% during the 4th quarter. Quadrant Capital Group LLC now owns 929 shares of the medical instruments supplier’s stock worth $74,000 after purchasing an additional 329 shares during the period. Caldwell Sutter Capital Inc. increased its holdings in shares of Glaukos by 5,860.0% during the 1st quarter. Caldwell Sutter Capital Inc. now owns 1,490 shares of the medical instruments supplier’s stock valued at $140,000 after purchasing an additional 1,465 shares in the last quarter. Finally, Fisher Asset Management LLC purchased a new stake in Glaukos during the fourth quarter worth $216,000. Institutional investors and hedge funds own 99.04% of the company’s stock.

Insiders Place Their Bets

In other Glaukos news, CFO Alex R. Thurman sold 1,372 shares of Glaukos stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $100.54, for a total transaction of $137,940.88. Following the transaction, the chief financial officer now directly owns 52,532 shares of the company’s stock, valued at $5,281,567.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Glaukos news, CFO Alex R. Thurman sold 1,372 shares of the firm’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $100.54, for a total transaction of $137,940.88. Following the completion of the sale, the chief financial officer now owns 52,532 shares of the company’s stock, valued at $5,281,567.28. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Marc Stapley sold 6,250 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $112.80, for a total value of $705,000.00. Following the completion of the transaction, the director now directly owns 32,360 shares in the company, valued at approximately $3,650,208. The disclosure for this sale can be found here. Insiders sold 80,367 shares of company stock valued at $8,284,190 in the last three months. 6.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

GKOS has been the subject of a number of recent analyst reports. BTIG Research lifted their price objective on shares of Glaukos from $107.00 to $112.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. JPMorgan Chase & Co. increased their price target on Glaukos from $108.00 to $110.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Wells Fargo & Company boosted their price objective on Glaukos from $110.00 to $120.00 and gave the company an “overweight” rating in a research report on Monday, June 3rd. Stifel Nicolaus increased their target price on Glaukos from $110.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, June 5th. Finally, Mizuho boosted their price target on shares of Glaukos from $85.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Glaukos currently has an average rating of “Moderate Buy” and an average target price of $112.27.

Glaukos Price Performance

Shares of NYSE:GKOS traded up $0.09 during midday trading on Friday, hitting $119.38. The company’s stock had a trading volume of 19,801 shares, compared to its average volume of 590,389. Glaukos Co. has a 12-month low of $59.22 and a 12-month high of $121.04. The company has a market cap of $6.01 billion, a P/E ratio of -41.42 and a beta of 1.06. The company has a debt-to-equity ratio of 0.78, a quick ratio of 4.68 and a current ratio of 5.38. The business’s 50 day simple moving average is $110.69 and its 200 day simple moving average is $97.22.

Glaukos (NYSE:GKOS) last posted its quarterly earnings results on Wednesday, May 1st. The medical instruments supplier reported ($0.70) EPS for the quarter, missing the consensus estimate of ($0.58) by ($0.12). The company had revenue of $85.60 million during the quarter, compared to analyst estimates of $79.60 million. Glaukos had a negative net margin of 43.15% and a negative return on equity of 24.69%. Glaukos’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.59) EPS. On average, analysts forecast that Glaukos Co. will post -2.24 EPS for the current year.

Glaukos Company 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.