Balyasny Asset Management L.P. Makes New $4.76 Million Investment in Glaukos Co. (NYSE:GKOS)

Balyasny Asset Management L.P. acquired a new stake in Glaukos Co. (NYSE:GKOS) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 31,752 shares of the medical instruments supplier’s stock, valued at approximately $4,761,000.

Other hedge funds have also modified their holdings of the company. Barclays PLC grew its stake in shares of Glaukos by 394.4% in the 3rd quarter. Barclays PLC now owns 89,699 shares of the medical instruments supplier’s stock valued at $11,686,000 after purchasing an additional 71,556 shares during the last quarter. Franklin Resources Inc. raised its position in Glaukos by 80.1% during the 3rd quarter. Franklin Resources Inc. now owns 15,621 shares of the medical instruments supplier’s stock worth $2,031,000 after buying an additional 6,948 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of Glaukos in the 4th quarter worth $3,679,000. Oak Ridge Investments LLC acquired a new stake in shares of Glaukos in the 4th quarter worth $1,672,000. Finally, LVW Advisors LLC boosted its holdings in shares of Glaukos by 22.2% in the fourth quarter. LVW Advisors LLC now owns 2,273 shares of the medical instruments supplier’s stock valued at $341,000 after acquiring an additional 413 shares in the last quarter. 99.04% of the stock is currently owned by hedge funds and other institutional investors.

Glaukos Stock Down 0.7 %

GKOS stock opened at $89.94 on Friday. 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’s 50 day simple moving average is $94.87 and its 200-day simple moving average is $127.33. Glaukos Co. has a 12 month low of $77.10 and a 12 month high of $163.71. The firm has a market capitalization of $5.14 billion, a PE ratio of -31.34 and a beta of 0.83.

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

Insider Buying and Selling 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 transaction, the insider now directly owns 72,437 shares in the company, valued at approximately $10,658,380.18. This represents a 4.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Alex R. Thurman sold 1,520 shares of the business’s stock in a transaction that occurred on 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 sale, the chief financial officer now owns 53,431 shares of the company’s stock, valued at approximately $5,708,568.04. The trade was a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

GKOS has been the subject of a number of recent analyst reports. Morgan Stanley reduced their price objective on shares of Glaukos from $110.00 to $72.00 and set an “underweight” rating for the company in a research report on Tuesday, May 6th. Wells Fargo & Company downgraded Glaukos from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $160.00 to $86.00 in a research note on Thursday, May 1st. Truist Financial reiterated a “buy” rating and issued a $135.00 price objective (down previously from $140.00) on shares of Glaukos in a research report on Thursday, May 1st. Piper Sandler decreased their target price on shares of Glaukos from $180.00 to $165.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 15th. Finally, Needham & Company LLC cut their price target on shares of Glaukos from $176.00 to $115.00 and set a “buy” rating for the company in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $134.67.

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.