FIL Ltd Takes Position in Glaukos Co. (NYSE:GKOS)

FIL Ltd purchased a new position in Glaukos Co. (NYSE:GKOS) in the fourth quarter, Holdings Channel reports. The fund purchased 7,089 shares of the medical instruments supplier’s stock, valued at approximately $1,063,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GKOS. William Blair Investment Management LLC acquired a new stake in shares of Glaukos during the fourth quarter worth $121,390,000. Alliancebernstein L.P. raised its stake in Glaukos by 1,235.4% during the fourth quarter. Alliancebernstein L.P. now owns 816,153 shares of the medical instruments supplier’s stock worth $122,374,000 after acquiring an additional 755,035 shares during the period. Norges Bank bought a new position in Glaukos in the fourth quarter worth about $84,490,000. Raymond James Financial Inc. acquired a new position in Glaukos in the fourth quarter valued at approximately $16,910,000. Finally, Vanguard Group Inc. grew its holdings in shares of Glaukos by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 5,974,971 shares of the medical instruments supplier’s stock valued at $895,887,000 after purchasing an additional 101,838 shares during the last quarter. 99.04% of the stock is owned by institutional investors.

Insider Activity

In other Glaukos news, CFO Alex R. Thurman sold 1,520 shares of the company’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $106.84, for a total value of $162,396.80. Following the completion of the sale, the chief financial officer now directly owns 53,431 shares of the company’s stock, valued at approximately $5,708,568.04. This represents a 2.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Tomas Navratil sold 3,416 shares of the firm’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $147.14, for a total transaction of $502,630.24. Following the transaction, the insider now owns 72,437 shares of the company’s stock, valued at approximately $10,658,380.18. This trade represents a 4.50 % decrease in their position. The disclosure for this sale can be found here. Insiders own 6.40% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on GKOS shares. Piper Sandler reissued an “overweight” rating and issued a $180.00 price target (up previously from $140.00) on shares of Glaukos in a report on Monday, January 27th. Stifel Nicolaus boosted their price target on shares of Glaukos from $153.00 to $175.00 and gave the company a “buy” rating in a report on Tuesday, December 31st. Mizuho raised shares of Glaukos from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $140.00 to $200.00 in a report on Wednesday, February 19th. Needham & Company LLC boosted their target price on shares of Glaukos from $149.00 to $176.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Finally, Truist Financial decreased their target price on shares of Glaukos from $185.00 to $140.00 and set a “buy” rating for the company in a research report on Friday. One analyst has rated the stock with a sell rating, one has given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $159.50.

Glaukos Trading Up 0.4 %

Shares of NYSE:GKOS opened at $90.05 on Monday. The company has a 50 day moving average of $114.19 and a 200-day moving average of $132.69. The company has a current ratio of 5.54, a quick ratio of 4.71 and a debt-to-equity ratio of 0.19. The firm has a market cap of $5.09 billion, a P/E ratio of -31.38 and a beta of 0.88. Glaukos Co. has a twelve month low of $77.91 and a twelve month high of $163.71.

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

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.