The Manufacturers Life Insurance Company Has $4.17 Million Holdings in Glaukos Co. (NYSE:GKOS)

The Manufacturers Life Insurance Company trimmed its position in shares of Glaukos Co. (NYSE:GKOS) by 1.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 27,832 shares of the medical instruments supplier’s stock after selling 511 shares during the period. The Manufacturers Life Insurance Company’s holdings in Glaukos were worth $4,173,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC increased its stake in shares of Glaukos by 3.3% during the 4th quarter. Quadrant Capital Group LLC now owns 2,300 shares of the medical instruments supplier’s stock worth $345,000 after purchasing an additional 73 shares during the last quarter. Mutual of America Capital Management LLC increased its position in Glaukos by 1.1% during the fourth quarter. Mutual of America Capital Management LLC now owns 8,353 shares of the medical instruments supplier’s stock worth $1,252,000 after buying an additional 89 shares during the last quarter. HighTower Advisors LLC raised its stake in Glaukos by 2.8% in the fourth quarter. HighTower Advisors LLC now owns 3,298 shares of the medical instruments supplier’s stock valued at $495,000 after buying an additional 91 shares during the period. Louisiana State Employees Retirement System lifted its position in shares of Glaukos by 0.4% in the fourth quarter. Louisiana State Employees Retirement System now owns 26,700 shares of the medical instruments supplier’s stock valued at $4,003,000 after buying an additional 100 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its stake in shares of Glaukos by 0.7% during the 4th quarter. Handelsbanken Fonder AB now owns 14,700 shares of the medical instruments supplier’s stock worth $2,204,000 after acquiring an additional 100 shares during the period. 99.04% of the stock is owned by institutional investors.

Analyst Ratings Changes

GKOS has been the subject of several research reports. Truist Financial reaffirmed a “buy” rating and set a $135.00 price target (down previously from $140.00) on shares of Glaukos in a report on Thursday, May 1st. Stephens decreased 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. Mizuho reduced their price objective on Glaukos from $200.00 to $175.00 and set an “outperform” rating for the company in a report on Wednesday, April 16th. Needham & Company LLC lowered their target price on Glaukos from $176.00 to $115.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Finally, Piper Sandler reduced their price target on Glaukos from $180.00 to $165.00 and set an “overweight” rating for the company in a research note on Tuesday, April 15th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $134.67.

Glaukos Stock Performance

NYSE:GKOS opened at $90.70 on Friday. The stock’s 50-day moving average is $95.31 and its 200-day moving average is $127.64. The company has a current ratio of 5.54, a quick ratio of 4.71 and a debt-to-equity ratio of 0.19. Glaukos Co. has a 1-year low of $77.10 and a 1-year high of $163.71. The stock has a market cap of $5.18 billion, a P/E ratio of -31.60 and a beta of 0.83.

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 firm had revenue of $106.66 million for the quarter, compared to the consensus estimate of $102.78 million. During the same quarter in the previous year, the company earned ($0.70) EPS. The company’s revenue for the quarter was up 24.6% on a year-over-year basis. Equities research analysts anticipate that Glaukos Co. will post -1.08 earnings per share for the current year.

Insider Transactions at Glaukos

In related 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 transaction of $502,630.24. Following the sale, the insider now owns 72,437 shares of the company’s stock, valued at approximately $10,658,380.18. This represents a 4.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Alex R. Thurman sold 1,520 shares of the stock in a transaction 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 completion of the sale, the chief financial officer now owns 53,431 shares in the company, valued at $5,708,568.04. This trade represents a 2.77 % decrease in their position. The disclosure for this sale can be found here. 6.40% of the stock is owned by insiders.

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.