Polar Asset Management Partners Inc. Has $23.95 Million Position in Glaukos Co. (NYSE:GKOS)

Polar Asset Management Partners Inc. lowered its position in shares of Glaukos Co. (NYSE:GKOS) by 26.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 159,710 shares of the medical instruments supplier’s stock after selling 58,190 shares during the quarter. Polar Asset Management Partners Inc.’s holdings in Glaukos were worth $23,947,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of GKOS. IFP Advisors Inc acquired a new stake in shares of Glaukos in the 4th quarter valued at $43,000. Asset Planning Inc bought a new position in Glaukos during the 4th quarter worth approximately $90,000. CoreCap Advisors LLC grew its stake in Glaukos by 36.4% during the fourth quarter. CoreCap Advisors LLC now owns 750 shares of the medical instruments supplier’s stock worth $112,000 after purchasing an additional 200 shares during the period. Picton Mahoney Asset Management bought a new position in shares of Glaukos during the 4th quarter worth about $125,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of Glaukos in the fourth quarter valued at $153,000. Institutional investors and hedge funds own 99.04% of the company’s stock.

Analysts Set New Price Targets

GKOS has been the subject of a number of recent analyst reports. Truist Financial reaffirmed a “buy” rating and issued a $135.00 price objective (down from $140.00) on shares of Glaukos in a research report on Thursday, May 1st. Needham & Company LLC reduced their price target on Glaukos from $176.00 to $115.00 and set a “buy” rating for the company in a research 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 report on Friday, May 2nd. Stifel Nicolaus dropped their target price on shares of Glaukos from $140.00 to $115.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Finally, Piper Sandler cut their price objective on Glaukos from $180.00 to $165.00 and set an “overweight” rating for the company in a report on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $134.67.

Glaukos Price Performance

Shares of Glaukos stock opened at $91.45 on Thursday. The business has a 50 day moving average of $94.05 and a 200 day moving average of $126.57. Glaukos Co. has a 52 week low of $77.10 and a 52 week high of $163.71. The company has a quick ratio of 4.71, a current ratio of 5.54 and a debt-to-equity ratio of 0.19. The company has a market cap of $5.23 billion, a PE ratio of -31.86 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, beating the consensus estimate of ($0.33) by $0.11. The company had revenue of $106.66 million for the quarter, compared to analyst estimates of $102.78 million. Glaukos had a negative return on equity of 16.53% and a negative net margin of 39.04%. The firm’s revenue was up 24.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.70) earnings per share. As a group, equities research analysts forecast that Glaukos Co. will post -1.08 earnings per share for the current year.

Insider Transactions at Glaukos

In related news, CFO Alex R. Thurman sold 1,520 shares of the firm’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 $5,708,568.04. This trade represents a 2.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Tomas Navratil sold 3,416 shares of the business’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $147.14, for a total value of $502,630.24. Following the completion of the transaction, the insider now owns 72,437 shares of the company’s stock, valued at $10,658,380.18. This represents a 4.50% decrease in their position. The disclosure for this sale can be found here. Insiders own 5.80% of the company’s stock.

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.