Oppenheimer Asset Management Inc. Decreases Position in Glaukos Co. (NYSE:GKOS)

Oppenheimer Asset Management Inc. decreased its holdings in shares of Glaukos Co. (NYSE:GKOS) by 24.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,672 shares of the medical instruments supplier’s stock after selling 5,339 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Glaukos were worth $1,572,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. National Bank of Canada FI acquired a new position in Glaukos during the fourth quarter worth approximately $46,000. GAMMA Investing LLC acquired a new position in shares of Glaukos in the fourth quarter valued at approximately $55,000. Quadrant Capital Group LLC increased its holdings in shares of Glaukos by 54.8% in the fourth quarter. Quadrant Capital Group LLC now owns 929 shares of the medical instruments supplier’s stock valued at $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% in the first 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 during the period. Finally, Fisher Asset Management LLC acquired a new position in shares of Glaukos in the fourth quarter valued at approximately $216,000. Institutional investors and hedge funds own 99.04% of the company’s stock.

Glaukos Stock Down 1.7 %

GKOS opened at $121.09 on Monday. The business’s fifty day moving average is $113.23 and its two-hundred day moving average is $99.16. The company has a current ratio of 5.38, a quick ratio of 4.68 and a debt-to-equity ratio of 0.78. Glaukos Co. has a one year low of $59.22 and a one year high of $125.47.

Glaukos (NYSE:GKOS) last posted its earnings results on Wednesday, May 1st. The medical instruments supplier reported ($0.70) EPS for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.12). The firm had revenue of $85.60 million for the quarter, compared to analysts’ expectations of $79.60 million. Glaukos had a negative return on equity of 24.69% and a negative net margin of 43.15%. The firm’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.59) earnings per share. As a group, equities analysts forecast that Glaukos Co. will post -2.24 EPS for the current fiscal year.

Insiders Place Their Bets

In other Glaukos news, COO Joseph E. Gilliam sold 2,250 shares of the business’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $121.39, for a total transaction of $273,127.50. Following the sale, the chief operating officer now directly owns 101,845 shares in the company, valued at $12,362,964.55. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, COO Joseph E. Gilliam sold 2,250 shares of the company’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $121.39, for a total value of $273,127.50. Following the sale, the chief operating officer now directly owns 101,845 shares in the company, valued at $12,362,964.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Joseph E. Gilliam sold 2,500 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $113.50, for a total value of $283,750.00. Following the completion of the sale, the chief operating officer now owns 101,845 shares in the company, valued at $11,559,407.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,444 shares of company stock worth $2,411,171. 6.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on GKOS. BTIG Research boosted their target price on Glaukos from $107.00 to $112.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Mizuho boosted their target price on Glaukos from $85.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Needham & Company LLC upped their price objective on Glaukos from $108.00 to $113.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Jefferies Financial Group raised Glaukos from a “hold” rating to a “buy” rating and upped their price objective for the stock from $84.00 to $125.00 in a report on Monday, May 6th. Finally, StockNews.com lowered Glaukos from a “hold” rating to a “sell” rating in a report on Saturday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Glaukos has a consensus rating of “Moderate Buy” and an average price target of $112.45.

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.