Zweig DiMenna Associates LLC Takes $8.80 Million Position in Glaukos Co. (NYSE:GKOS)

Zweig DiMenna Associates LLC acquired a new position in shares of Glaukos Co. (NYSE:GKOS) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 58,665 shares of the medical instruments supplier’s stock, valued at approximately $8,796,000. Zweig DiMenna Associates LLC owned about 0.11% of Glaukos as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in GKOS. Avior Wealth Management LLC bought a new stake in shares of Glaukos in the 4th quarter worth about $390,000. SG Americas Securities LLC raised its stake in shares of Glaukos by 42.1% in the fourth quarter. SG Americas Securities LLC now owns 3,641 shares of the medical instruments supplier’s stock valued at $546,000 after acquiring an additional 1,078 shares during the last quarter. Zhang Financial LLC acquired a new position in shares of Glaukos in the 4th quarter worth approximately $221,000. LVW Advisors LLC grew its position in Glaukos by 22.2% during the 4th quarter. LVW Advisors LLC now owns 2,273 shares of the medical instruments supplier’s stock worth $341,000 after acquiring an additional 413 shares during the last quarter. Finally, Oak Ridge Investments LLC acquired a new position in Glaukos in the fourth quarter worth $1,672,000. 99.04% of the stock is owned by institutional investors.

Glaukos Price Performance

Shares of GKOS opened at $159.74 on Friday. The business has a 50-day moving average of $146.86 and a 200-day moving average of $134.31. Glaukos Co. has a 1 year low of $83.90 and a 1 year high of $163.71. The company has a market capitalization of $8.81 billion, a price-to-earnings ratio of -52.93 and a beta of 1.04. 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 (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, beating the consensus estimate of ($0.48) by $0.20. The firm had revenue of $96.70 million for the quarter, compared to analyst estimates of $91.50 million. Glaukos had a negative return on equity of 18.99% and a negative net margin of 42.43%. The company’s revenue was up 23.9% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.50) earnings per share. As a group, equities research analysts anticipate that Glaukos Co. will post -1.89 earnings per share for the current year.

Insider Buying and Selling at Glaukos

In other news, COO Joseph E. Gilliam sold 3,328 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $149.85, for a total transaction of $498,700.80. Following the completion of the transaction, the chief operating officer now owns 102,169 shares of the company’s stock, valued at approximately $15,310,024.65. The trade was a 3.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gilbert H. Kliman sold 10,000 shares of Glaukos stock in a transaction on Friday, December 20th. The stock was sold at an average price of $150.28, for a total transaction of $1,502,800.00. Following the sale, the director now directly owns 32,336 shares of the company’s stock, valued at $4,859,454.08. This represents a 23.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,603 shares of company stock worth $2,605,678 over the last three months. 6.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on GKOS. Truist Financial raised their price target on Glaukos from $152.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Piper Sandler set a $140.00 price objective on shares of Glaukos in a research note on Thursday, October 17th. Morgan Stanley downgraded shares of Glaukos from an “equal weight” rating to an “underweight” rating and set a $120.00 target price for the company. in a research note on Monday, December 2nd. BTIG Research lifted their target price on Glaukos from $140.00 to $149.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, JPMorgan Chase & Co. upped their price target on shares of Glaukos from $130.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $147.75.

Glaukos Company 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.