Sumitomo Mitsui Trust Group Inc. acquired a new position in shares of Glaukos Corporation (NYSE:GKOS – Free Report) in the 3rd quarter, Holdings Channel.com reports. The firm acquired 7,601 shares of the medical instruments supplier’s stock, valued at approximately $1,248,000.
A number of other large investors have also recently bought and sold shares of GKOS. Vise Technologies Inc. acquired a new stake in Glaukos during the third quarter worth about $668,000. State of Wyoming raised its position in shares of Glaukos by 6.8% in the 3rd quarter. State of Wyoming now owns 1,030 shares of the medical instruments supplier’s stock valued at $169,000 after buying an additional 66 shares in the last quarter. Choreo LLC lifted its holdings in shares of Glaukos by 4.0% during the 3rd quarter. Choreo LLC now owns 3,546 shares of the medical instruments supplier’s stock worth $582,000 after acquiring an additional 136 shares during the period. Fifth Third Wealth Advisors LLC lifted its holdings in shares of Glaukos by 35.6% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 2,172 shares of the medical instruments supplier’s stock worth $357,000 after acquiring an additional 570 shares during the period. Finally, Sterling Capital Management LLC lifted its holdings in shares of Glaukos by 837.4% during the 3rd quarter. Sterling Capital Management LLC now owns 1,903 shares of the medical instruments supplier’s stock worth $312,000 after acquiring an additional 1,700 shares during the period. 99.04% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other news, COO Joseph Gilliam sold 60,000 shares of the company’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $179.74, for a total transaction of $10,784,400.00. Following the completion of the transaction, the chief operating officer directly owned 72,588 shares in the company, valued at approximately $13,046,967.12. This represents a 45.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gilbert H. Kliman sold 2,500 shares of the stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $253.00, for a total value of $632,500.00. Following the completion of the transaction, the director owned 37,406 shares of the company’s stock, valued at $9,463,718. The trade was a 6.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 65,000 shares of company stock worth $11,891,900 in the last 90 days. Company insiders own 5.90% of the company’s stock.
Glaukos Trading Up 1.8%
GKOS opened at $223.96 on Friday. The company has a market cap of $13.26 billion, a P/E ratio of -76.18 and a beta of 0.68. The company has a current ratio of 4.57, a quick ratio of 4.09 and a debt-to-equity ratio of 0.09. The company’s 50 day moving average is $178.24 and its 200-day moving average is $144.09. Glaukos Corporation has a 1-year low of $80.90 and a 1-year high of $255.18.
Glaukos (NYSE:GKOS – Get Free Report) last released its quarterly earnings data on Wednesday, October 28th. The medical instruments supplier reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.57. The business had revenue of $211.03 million during the quarter, compared to analysts’ expectations of $168.04 million. Glaukos had a negative net margin of 24.60% and a negative return on equity of 0.97%. The firm’s quarterly revenue was up 58.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.16) EPS. Equities research analysts predict that Glaukos Corporation will post 0.50 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on GKOS shares. JPMorgan Chase & Co. lifted their price objective on shares of Glaukos from $200.00 to $240.00 and gave the company an “overweight” rating in a research note on Thursday, October 29th. Citigroup upped their target price on Glaukos from $225.00 to $247.00 and gave the stock a “buy” rating in a research note on Thursday, October 29th. Truist Financial raised their target price on Glaukos from $215.00 to $255.00 and gave the company a “buy” rating in a report on Thursday, October 29th. UBS Group assumed coverage on Glaukos in a research note on Tuesday, July 28th. They issued a “neutral” rating and a $150.00 price target on the stock. Finally, Mizuho set a $225.00 price target on Glaukos in a report on Thursday, October 29th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $216.71.
View Our Latest Stock Analysis on GKOS
About Glaukos
Glaukos Corporation is an ophthalmic medical technology company that develops and commercializes treatments for glaucoma and other eye disorders. Its portfolio includes minimally invasive glaucoma surgery (MIGS) devices, such as the iStent family, and iDose TR, an implant designed to deliver glaucoma medication inside the eye over an extended period.
The company also offers products for corneal disorders, including technology used in corneal cross-linking procedures to treat keratoconus and other conditions that weaken the cornea.
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