GAMMA Investing LLC Purchases New Stake in Glaukos Co. (NYSE:GKOS)

GAMMA Investing LLC purchased a new position in Glaukos Co. (NYSE:GKOS) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 697 shares of the medical instruments supplier’s stock, valued at approximately $55,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of GKOS. Invesco Ltd. increased its position in shares of Glaukos by 45.5% during the third quarter. Invesco Ltd. now owns 1,450,033 shares of the medical instruments supplier’s stock valued at $109,115,000 after buying an additional 453,756 shares during the period. Rhenman & Partners Asset Management AB lifted its stake in shares of Glaukos by 236.8% in the 3rd quarter. Rhenman & Partners Asset Management AB now owns 320,000 shares of the medical instruments supplier’s stock valued at $24,080,000 after purchasing an additional 225,000 shares during the period. Fred Alger Management LLC grew its stake in Glaukos by 9.2% in the third quarter. Fred Alger Management LLC now owns 1,780,690 shares of the medical instruments supplier’s stock worth $133,997,000 after purchasing an additional 150,102 shares during the period. Lisanti Capital Growth LLC purchased a new stake in Glaukos in the third quarter worth $6,367,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in Glaukos by 3,894.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 72,978 shares of the medical instruments supplier’s stock worth $5,801,000 after purchasing an additional 71,151 shares in the last quarter. 99.04% of the stock is owned by institutional investors.

Glaukos Stock Up 3.0 %

Shares of GKOS stock opened at $98.84 on Thursday. The company has a current ratio of 5.34, a quick ratio of 4.78 and a debt-to-equity ratio of 0.77. Glaukos Co. has a 12 month low of $45.38 and a 12 month high of $103.66. The stock has a market cap of $4.96 billion, a P/E ratio of -35.55 and a beta of 1.08. The company has a 50 day simple moving average of $92.71 and a two-hundred day simple moving average of $82.43.

Glaukos (NYSE:GKOS) last posted its quarterly earnings data on Wednesday, February 21st. The medical instruments supplier reported ($0.63) EPS for the quarter, missing the consensus estimate of ($0.56) by ($0.07). The company had revenue of $82.40 million during the quarter, compared to analysts’ expectations of $81.00 million. Glaukos had a negative return on equity of 22.67% and a negative net margin of 42.79%. The company’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same quarter last year, the company earned ($0.53) earnings per share. On average, research analysts expect that Glaukos Co. will post -2.18 earnings per share for the current year.

Insider Transactions at Glaukos

In related news, Director Mark J. Foley sold 4,560 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $92.87, for a total transaction of $423,487.20. Following the completion of the transaction, the director now directly owns 33,220 shares in the company, valued at approximately $3,085,141.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Mark J. Foley sold 4,560 shares of Glaukos stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $92.87, for a total transaction of $423,487.20. Following the transaction, the director now owns 33,220 shares in the company, valued at approximately $3,085,141.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Joseph E. Gilliam sold 5,000 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $96.07, for a total value of $480,350.00. Following the sale, the chief operating officer now directly owns 119,802 shares in the company, valued at $11,509,378.14. The disclosure for this sale can be found here. Insiders have sold 232,881 shares of company stock valued at $21,965,491 over the last quarter. 6.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on GKOS shares. Stifel Nicolaus reiterated a “buy” rating and issued a $110.00 price target on shares of Glaukos in a research note on Wednesday, April 3rd. Needham & Company LLC boosted their target price on Glaukos from $105.00 to $108.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Citigroup increased their price objective on shares of Glaukos from $107.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, March 25th. Mizuho upped their target price on shares of Glaukos from $85.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Finally, StockNews.com downgraded shares of Glaukos from a “hold” rating to a “sell” rating in a research report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Glaukos has a consensus rating of “Moderate Buy” and an average target price of $99.80.

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.