Geode Capital Management LLC Raises Stock Holdings in Glaukos Co. (NYSE:GKOS)

Geode Capital Management LLC boosted its stake in shares of Glaukos Co. (NYSE:GKOS) by 2.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,197,215 shares of the medical instruments supplier’s stock after purchasing an additional 25,199 shares during the quarter. Geode Capital Management LLC owned about 2.17% of Glaukos worth $179,555,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GKOS. Wellington Management Group LLP boosted its holdings in shares of Glaukos by 294.5% in the 3rd quarter. Wellington Management Group LLP now owns 2,183,766 shares of the medical instruments supplier’s stock valued at $284,501,000 after buying an additional 1,630,270 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in Glaukos in the fourth quarter valued at approximately $121,390,000. Alliancebernstein L.P. boosted its stake 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 acquiring an additional 755,035 shares in the last quarter. Norges Bank purchased a new position in Glaukos in the fourth quarter worth $84,490,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Glaukos during the fourth quarter worth $16,910,000. Hedge funds and other institutional investors own 99.04% of the company’s stock.

Glaukos Trading Down 3.9 %

GKOS stock opened at $83.62 on Monday. Glaukos Co. has a 12-month low of $77.91 and a 12-month high of $163.71. The business’s 50-day moving average is $123.88 and its 200 day moving average is $134.70. 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 stock has a market cap of $4.73 billion, a price-to-earnings ratio of -29.14 and a beta of 0.88.

Glaukos (NYSE:GKOS) last posted its quarterly earnings data on Thursday, February 20th. The medical instruments supplier reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.02). Glaukos had a negative net margin of 39.04% and a negative return on equity of 16.53%. The firm had revenue of $105.50 million during the quarter, compared to analyst estimates of $100.72 million. On average, sell-side analysts anticipate that Glaukos Co. will post -1.08 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on GKOS shares. Mizuho raised Glaukos from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $140.00 to $200.00 in a research report on Wednesday, February 19th. Citigroup raised Glaukos from a “neutral” rating to a “buy” rating and raised their price target for the stock from $132.00 to $162.00 in a report on Wednesday, December 11th. Piper Sandler restated an “overweight” rating and set a $180.00 price objective (up previously from $140.00) on shares of Glaukos in a report on Monday, January 27th. Wells Fargo & Company increased their price objective on shares of Glaukos from $153.00 to $160.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Finally, Stifel Nicolaus boosted their target price on shares of Glaukos from $153.00 to $175.00 and gave the stock a “buy” rating in a research report on Tuesday, December 31st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $163.25.

Insider Buying and Selling

In other Glaukos news, insider Tomas Navratil sold 3,416 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $147.14, for a total transaction of $502,630.24. Following the sale, the insider now directly owns 72,437 shares in the company, valued at $10,658,380.18. This represents a 4.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Alex R. Thurman sold 1,520 shares of Glaukos stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $106.84, for a total value of $162,396.80. Following the completion of the transaction, the chief financial officer now owns 53,431 shares of the company’s stock, valued at $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 company 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.