Balyasny Asset Management L.P. Purchases New Stake in Glaukos Co. (NYSE:GKOS)

Balyasny Asset Management L.P. acquired a new position in shares of 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 (SEC). The fund acquired 31,752 shares of the medical instruments supplier’s stock, valued at approximately $4,761,000. Balyasny Asset Management L.P. owned about 0.06% of Glaukos as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in GKOS. Vanguard Group Inc. raised its stake in Glaukos by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 5,974,971 shares of the medical instruments supplier’s stock worth $895,887,000 after purchasing an additional 101,838 shares during the period. Invesco Ltd. raised its position in shares of Glaukos by 4.9% during the 4th quarter. Invesco Ltd. now owns 1,458,635 shares of the medical instruments supplier’s stock valued at $218,708,000 after buying an additional 68,310 shares during the period. Geode Capital Management LLC lifted its holdings in Glaukos by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 1,197,215 shares of the medical instruments supplier’s stock valued at $179,555,000 after acquiring an additional 25,199 shares during the last quarter. Gilder Gagnon Howe & Co. LLC increased its stake in Glaukos by 25.3% during the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 825,276 shares of the medical instruments supplier’s stock worth $123,742,000 after acquiring an additional 166,677 shares during the last quarter. Finally, Alliancebernstein L.P. raised its position in Glaukos by 1,235.4% in the fourth quarter. Alliancebernstein L.P. now owns 816,153 shares of the medical instruments supplier’s stock valued at $122,374,000 after purchasing an additional 755,035 shares during the period. 99.04% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Glaukos

In other news, insider Tomas Navratil sold 3,416 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $147.14, for a total value of $502,630.24. Following the transaction, the insider now owns 72,437 shares in the company, valued at approximately $10,658,380.18. This represents a 4.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Alex R. Thurman sold 1,520 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $106.84, for a total value of $162,396.80. Following the sale, the chief financial officer now owns 53,431 shares of the company’s stock, valued at approximately $5,708,568.04. The trade was a 2.77 % decrease in their position. The disclosure for this sale can be found here. 6.40% of the stock is currently owned by corporate insiders.

Glaukos Trading Down 0.7 %

NYSE:GKOS opened at $89.94 on Friday. The stock has a fifty day moving average price of $94.87 and a 200 day moving average price of $127.33. 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 $5.14 billion, a PE ratio of -31.34 and a beta of 0.83. Glaukos Co. has a 12-month low of $77.10 and a 12-month high of $163.71.

Glaukos (NYSE:GKOS) last issued its quarterly earnings results on Wednesday, April 30th. The medical instruments supplier reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.11. Glaukos had a negative net margin of 39.04% and a negative return on equity of 16.53%. The company had revenue of $106.66 million during the quarter, compared to the consensus estimate of $102.78 million. During the same quarter in the previous year, the firm earned ($0.70) earnings per share. The firm’s quarterly revenue was up 24.6% on a year-over-year basis. Sell-side analysts anticipate that Glaukos Co. will post -1.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

GKOS has been the subject of a number of research analyst reports. Needham & Company LLC lowered their price target on Glaukos from $176.00 to $115.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Truist Financial reiterated a “buy” rating and set a $135.00 price target (down from $140.00) on shares of Glaukos in a research report on Thursday, May 1st. Stephens reduced their price target on shares of Glaukos from $140.00 to $115.00 and set an “overweight” rating on the stock in a research note on Friday, May 2nd. Wells Fargo & Company cut shares of Glaukos from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $160.00 to $86.00 in a research report on Thursday, May 1st. Finally, Mizuho dropped their target price on shares of Glaukos from $200.00 to $175.00 and set an “outperform” rating for the company in a report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $134.67.

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.