Essex Investment Management Co. LLC Trims Position in Glaukos Co. (NYSE:GKOS)

Essex Investment Management Co. LLC lessened its stake in shares of Glaukos Co. (NYSE:GKOS) by 58.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 611 shares of the medical instruments supplier’s stock after selling 855 shares during the period. Essex Investment Management Co. LLC’s holdings in Glaukos were worth $92,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. WCM Investment Management LLC increased its position in shares of Glaukos by 45.7% during the 3rd quarter. WCM Investment Management LLC now owns 99,155 shares of the medical instruments supplier’s stock worth $12,721,000 after purchasing an additional 31,084 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of Glaukos by 186.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 13,726 shares of the medical instruments supplier’s stock worth $1,788,000 after purchasing an additional 8,942 shares during the last quarter. First Turn Management LLC acquired a new stake in shares of Glaukos during the 3rd quarter worth about $12,520,000. Harbor Capital Advisors Inc. acquired a new stake in shares of Glaukos during the 4th quarter worth about $3,679,000. Finally, Victory Capital Management Inc. increased its position in shares of Glaukos by 421.8% during the 3rd quarter. Victory Capital Management Inc. now owns 79,211 shares of the medical instruments supplier’s stock worth $10,320,000 after purchasing an additional 64,031 shares during the last quarter. Hedge funds and other institutional investors own 99.04% of the company’s stock.

Glaukos Price Performance

GKOS stock opened at $96.32 on Tuesday. The business has a 50 day moving average price of $145.94 and a 200 day moving average price of $138.90. The stock has a market cap of $5.45 billion, a price-to-earnings ratio of -33.56 and a beta of 0.99. Glaukos Co. has a fifty-two week low of $84.08 and a fifty-two week high of $163.71. The company has a quick ratio of 4.71, a current ratio of 5.54 and a debt-to-equity ratio of 0.19.

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

Insider Buying and Selling

In other Glaukos news, insider Tomas Navratil sold 3,416 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was 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 in the company, valued at approximately $10,658,380.18. The trade was a 4.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Joseph E. Gilliam sold 3,328 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $149.85, for a total value of $498,700.80. Following the completion of the sale, the chief operating officer now owns 102,169 shares of the company’s stock, valued at approximately $15,310,024.65. This represents a 3.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,744 shares of company stock worth $2,792,151 over the last 90 days. 6.40% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on GKOS shares. Piper Sandler reissued an “overweight” rating and set a $180.00 price objective (up from $140.00) on shares of Glaukos in a research report on Monday, January 27th. BTIG Research raised their price objective on Glaukos from $140.00 to $149.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Wells Fargo & Company lifted their target price on Glaukos from $153.00 to $160.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Morgan Stanley downgraded Glaukos from an “equal weight” rating to an “underweight” rating and set a $120.00 target price for the company. in a research report on Monday, December 2nd. Finally, Needham & Company LLC lifted their target price on Glaukos from $149.00 to $176.00 and gave the company a “buy” rating in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $163.25.

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.