Algert Global LLC Boosts Stock Position in Glaukos Co. (NYSE:GKOS)

Algert Global LLC raised its holdings in shares of Glaukos Co. (NYSE:GKOS) by 162.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,260 shares of the medical instruments supplier’s stock after purchasing an additional 8,206 shares during the quarter. Algert Global LLC’s holdings in Glaukos were worth $1,728,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Values First Advisors Inc. bought a new stake in shares of Glaukos during the third quarter valued at approximately $25,000. GAMMA Investing LLC increased its position in Glaukos by 68.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,192 shares of the medical instruments supplier’s stock valued at $141,000 after purchasing an additional 486 shares during the period. KBC Group NV boosted its stake in shares of 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 in the last quarter. Fifth Third Wealth Advisors LLC purchased a new stake in Glaukos during the second quarter worth $187,000. Finally, Procyon Advisors LLC bought a new position in shares of Glaukos in the 3rd quarter worth $210,000. 99.04% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on GKOS. Truist Financial increased their target price on shares of Glaukos from $145.00 to $152.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Piper Sandler set a $140.00 price objective on shares of Glaukos in a report on Thursday, October 17th. Needham & Company LLC lifted their target price on Glaukos from $131.00 to $137.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Wells Fargo & Company raised their target price on shares of Glaukos from $135.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, BTIG Research raised their target price on Glaukos from $140.00 to $149.00 and gave the stock a “buy” rating in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $135.45.

Glaukos Price Performance

Shares of NYSE GKOS opened at $142.68 on Thursday. 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 company has a market cap of $7.87 billion, a price-to-earnings ratio of -47.25 and a beta of 1.02. The stock’s 50-day moving average is $133.15 and its two-hundred day moving average is $124.27. Glaukos Co. has a 1-year low of $59.58 and a 1-year high of $146.86.

Glaukos (NYSE:GKOS) last issued its quarterly earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.20. Glaukos had a negative net margin of 42.43% and a negative return on equity of 18.99%. The company had revenue of $96.70 million during the quarter, compared to the consensus estimate of $91.50 million. During the same quarter in the previous year, the firm earned ($0.50) earnings per share. The firm’s quarterly revenue was up 23.9% on a year-over-year basis. Analysts forecast that Glaukos Co. will post -1.96 EPS for the current fiscal year.

Insider Transactions at Glaukos

In other news, COO Joseph E. Gilliam sold 2,275 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $138.97, for a total value of $316,156.75. Following the completion of the sale, the chief operating officer now directly owns 102,169 shares of the company’s stock, valued at approximately $14,198,425.93. This represents a 2.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gilbert H. Kliman sold 3,000 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $130.67, for a total transaction of $392,010.00. Following the sale, the director now owns 32,336 shares of the company’s stock, valued at approximately $4,225,345.12. This represents a 8.49 % decrease in their position. The disclosure for this sale can be found here. Insiders own 6.40% of the company’s stock.

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.