Point72 Asset Management L.P. Makes New Investment in Glaukos Co. (NYSE:GKOS)

Point72 Asset Management L.P. bought a new stake in shares of Glaukos Co. (NYSE:GKOS) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 570,001 shares of the medical instruments supplier’s stock, valued at approximately $67,460,000. Point72 Asset Management L.P. owned about 1.13% of Glaukos at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in GKOS. GAMMA Investing LLC grew its holdings in Glaukos by 68.8% during the second quarter. GAMMA Investing LLC now owns 1,192 shares of the medical instruments supplier’s stock valued at $141,000 after purchasing an additional 486 shares during the period. Caldwell Sutter Capital Inc. grew its stake 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 worth $140,000 after acquiring an additional 1,465 shares during the period. Fifth Third Wealth Advisors LLC purchased a new stake in Glaukos in the 2nd quarter worth about $187,000. Brighton Jones LLC bought a new stake in Glaukos in the 2nd quarter valued at about $208,000. Finally, Mount Yale Investment Advisors LLC purchased a new stake in Glaukos during the second quarter valued at about $212,000. 99.04% of the stock is currently owned by institutional investors.

Insider Transactions at Glaukos

In related news, Director Aimee S. Weisner sold 25,000 shares of the stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $120.00, for a total transaction of $3,000,000.00. Following the completion of the sale, the director now directly owns 30,119 shares in the company, valued at approximately $3,614,280. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, COO Joseph E. Gilliam sold 2,250 shares of the company’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $121.39, for a total transaction of $273,127.50. Following the completion of the transaction, the chief operating officer now directly owns 101,845 shares of the company’s stock, valued at $12,362,964.55. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Aimee S. Weisner sold 25,000 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $120.00, for a total value of $3,000,000.00. Following the completion of the sale, the director now directly owns 30,119 shares in the company, valued at $3,614,280. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,500 shares of company stock worth $5,099,000. Company insiders own 6.40% of the company’s stock.

Glaukos Stock Down 1.2 %

Shares of GKOS opened at $126.19 on Thursday. Glaukos Co. has a 1 year low of $59.22 and a 1 year high of $136.60. The company has a debt-to-equity ratio of 0.19, a current ratio of 5.48 and a quick ratio of 4.67. The stock has a 50 day simple moving average of $125.06 and a two-hundred day simple moving average of $112.38. The firm has a market cap of $6.36 billion, a P/E ratio of -43.82 and a beta of 1.03.

Glaukos (NYSE:GKOS) last announced its quarterly earnings data on Wednesday, July 31st. The medical instruments supplier reported ($0.52) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.52). The company had revenue of $95.70 million during the quarter, compared to analysts’ expectations of $88.86 million. Glaukos had a negative net margin of 47.39% and a negative return on equity of 22.51%. The firm’s revenue was up 19.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.55) EPS. On average, analysts forecast that Glaukos Co. will post -2.18 earnings per share for the current fiscal year.

Analyst Ratings Changes

GKOS has been the subject of several recent research reports. Morgan Stanley lifted their target price on shares of Glaukos from $100.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Monday, July 15th. Piper Sandler lifted their price objective on shares of Glaukos from $110.00 to $140.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. BTIG Research increased their target price on Glaukos from $131.00 to $139.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. StockNews.com cut Glaukos from a “hold” rating to a “sell” rating in a research report on Friday, August 30th. Finally, Citigroup cut Glaukos from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $130.00 to $132.00 in a report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $129.82.

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.