Harbor Capital Advisors Inc. Purchases 14,593 Shares of Glaukos Co. (NYSE:GKOS)

Harbor Capital Advisors Inc. grew its position in Glaukos Co. (NYSE:GKOS) by 59.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 39,132 shares of the medical instruments supplier’s stock after purchasing an additional 14,593 shares during the quarter. Harbor Capital Advisors Inc. owned approximately 0.07% of Glaukos worth $3,851,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. William Blair Investment Management LLC acquired a new position in shares of Glaukos during the 4th quarter valued at $121,390,000. Alliancebernstein L.P. lifted its position in shares of Glaukos by 1,235.4% during the 4th quarter. Alliancebernstein L.P. now owns 816,153 shares of the medical instruments supplier’s stock valued at $122,374,000 after acquiring an additional 755,035 shares during the period. Norges Bank acquired a new position in shares of Glaukos during the 4th quarter valued at $84,490,000. Gilder Gagnon Howe & Co. LLC lifted its position in shares of Glaukos by 25.3% during the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 825,276 shares of the medical instruments supplier’s stock valued at $123,742,000 after acquiring an additional 166,677 shares during the period. Finally, Voya Investment Management LLC lifted its position in shares of Glaukos by 266.2% during the 4th quarter. Voya Investment Management LLC now owns 200,698 shares of the medical instruments supplier’s stock valued at $30,093,000 after acquiring an additional 145,890 shares during the period. 99.04% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on GKOS shares. Morgan Stanley dropped their target price on shares of Glaukos from $110.00 to $72.00 and set an “underweight” rating on the stock in a research report on Tuesday, May 6th. Wells Fargo & Company downgraded shares of Glaukos from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $160.00 to $86.00 in a research report on Thursday, May 1st. Stifel Nicolaus dropped their target price on shares of Glaukos from $140.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Stephens dropped their target price on shares of Glaukos from $140.00 to $115.00 and set an “overweight” rating on the stock in a research report on Friday, May 2nd. Finally, Truist Financial restated a “buy” rating and set a $135.00 price objective (down previously from $140.00) on shares of Glaukos in a report on Thursday, May 1st. One 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 data from MarketBeat.com, Glaukos presently has an average rating of “Moderate Buy” and a consensus price target of $134.67.

Glaukos Stock Performance

Shares of GKOS stock opened at $95.68 on Wednesday. The firm has a 50-day moving average of $91.90 and a 200-day moving average of $120.74. The company has a market cap of $5.47 billion, a P/E ratio of -33.34 and a beta of 0.80. The company has a debt-to-equity ratio of 0.19, a current ratio of 5.54 and a quick ratio of 4.71. Glaukos Co. has a one year low of $77.10 and a one year high of $163.71.

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

Insider Activity

In related news, CFO Alex R. Thurman sold 1,520 shares of the stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $106.84, for a total transaction of $162,396.80. Following the completion of the transaction, the chief financial officer now owns 53,431 shares in the company, valued at approximately $5,708,568.04. This represents a 2.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 5.80% of the stock is currently owned by corporate 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.