Legato Capital Management LLC Raises Stake in Glaukos Co. (NYSE:GKOS)

Legato Capital Management LLC increased its stake in shares of Glaukos Co. (NYSE:GKOS) by 85.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 9,381 shares of the medical instruments supplier’s stock after buying an additional 4,309 shares during the quarter. Legato Capital Management LLC’s holdings in Glaukos were worth $1,407,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in GKOS. Values First Advisors Inc. bought a new position in shares of Glaukos during the 3rd quarter valued at approximately $25,000. Harvest Fund Management Co. Ltd lifted its stake in Glaukos by 2,263.2% in the third quarter. Harvest Fund Management Co. Ltd now owns 898 shares of the medical instruments supplier’s stock valued at $117,000 after purchasing an additional 860 shares during the last quarter. KBC Group NV grew its holdings in Glaukos by 16.2% during the third quarter. KBC Group NV now owns 1,445 shares of the medical instruments supplier’s stock valued at $188,000 after purchasing an additional 201 shares during the period. EWA LLC purchased a new stake in Glaukos in the third quarter worth $209,000. Finally, Procyon Advisors LLC bought a new stake in shares of Glaukos in the third quarter valued at $210,000. Institutional investors own 99.04% of the company’s stock.

Glaukos Price Performance

Shares of NYSE:GKOS opened at $143.80 on Thursday. The company’s fifty day moving average price is $151.20 and its 200-day moving average price is $137.79. The company has a debt-to-equity ratio of 0.19, a current ratio of 5.54 and a quick ratio of 4.71. The firm has a market capitalization of $7.93 billion, a price-to-earnings ratio of -47.62 and a beta of 1.04. Glaukos Co. has a one year low of $83.90 and a one year high of $163.71.

Analysts Set New Price Targets

GKOS has been the subject of several research reports. UBS Group initiated coverage on Glaukos in a research note on Friday, December 6th. They set a “buy” rating and a $182.00 price target for the company. Piper Sandler reiterated an “overweight” rating and set a $180.00 target price (up previously from $140.00) on shares of Glaukos in a research report on Monday, January 27th. Stephens raised shares of Glaukos to a “strong-buy” rating in a research report on Monday, December 2nd. Truist Financial raised their price objective on shares of Glaukos from $152.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Finally, BTIG Research lifted their price objective on shares of Glaukos from $140.00 to $149.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $151.08.

Insider Activity at Glaukos

In other Glaukos news, COO Joseph E. Gilliam sold 3,328 shares of Glaukos stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $149.85, for a total transaction of $498,700.80. Following the transaction, the chief operating officer now directly owns 102,169 shares of the company’s stock, valued at approximately $15,310,024.65. This trade represents a 3.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Gilbert H. Kliman sold 10,000 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $150.28, for a total transaction of $1,502,800.00. Following the completion of the sale, the director now directly owns 32,336 shares of the company’s stock, valued at $4,859,454.08. This trade represents a 23.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,328 shares of company stock valued at $2,289,521 over the last 90 days. 6.40% of the stock is owned by insiders.

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.