Bellevue Group AG Takes $5.27 Million Position in Glaukos Co. (NYSE:GKOS)

Bellevue Group AG purchased a new stake in Glaukos Co. (NYSE:GKOS) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 55,926 shares of the medical instruments supplier’s stock, valued at approximately $5,273,000.

A number of other large investors also recently made changes to their positions in the stock. National Bank of Canada FI acquired a new stake in Glaukos during the 4th quarter worth $46,000. GAMMA Investing LLC acquired a new stake in Glaukos during the 4th quarter worth $55,000. Quadrant Capital Group LLC raised its stake in Glaukos by 54.8% during the 4th quarter. Quadrant Capital Group LLC now owns 929 shares of the medical instruments supplier’s stock worth $74,000 after buying an additional 329 shares during the period. Caldwell Sutter Capital Inc. raised its stake in shares of Glaukos by 5,860.0% in the 1st quarter. Caldwell Sutter Capital Inc. now owns 1,490 shares of the medical instruments supplier’s stock valued at $140,000 after purchasing an additional 1,465 shares during the period. Finally, Oppenheimer & Co. Inc. acquired a new stake in shares of Glaukos in the 1st quarter valued at about $217,000. Institutional investors and hedge funds own 99.04% of the company’s stock.

Glaukos Stock Performance

Glaukos stock traded up $2.17 during midday trading on Friday, reaching $119.82. 617,615 shares of the company’s stock were exchanged, compared to its average volume of 570,732. Glaukos Co. has a 52 week low of $59.22 and a 52 week high of $126.96. The company has a debt-to-equity ratio of 0.78, a quick ratio of 4.68 and a current ratio of 5.38. The firm has a market cap of $6.04 billion, a price-to-earnings ratio of -41.60 and a beta of 1.06. The stock’s 50-day simple moving average is $115.88 and its 200 day simple moving average is $102.09.

Glaukos (NYSE:GKOS) last posted its quarterly earnings results on Wednesday, May 1st. The medical instruments supplier reported ($0.70) EPS for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.12). Glaukos had a negative return on equity of 24.69% and a negative net margin of 43.15%. The business had revenue of $85.60 million for the quarter, compared to the consensus estimate of $79.60 million. During the same quarter in the previous year, the business posted ($0.59) EPS. The company’s revenue for the quarter was up 15.8% on a year-over-year basis. On average, analysts expect that Glaukos Co. will post -2.25 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Glaukos news, CFO Alex R. Thurman sold 353 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $110.51, for a total transaction of $39,010.03. Following the completion of the sale, the chief financial officer now directly owns 51,647 shares in the company, valued at $5,707,509.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Alex R. Thurman sold 442 shares of Glaukos stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $105.69, for a total value of $46,714.98. Following the completion of the sale, the chief financial officer now directly owns 52,090 shares in the company, valued at $5,505,392.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Alex R. Thurman sold 353 shares of Glaukos stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $110.51, for a total transaction of $39,010.03. Following the completion of the sale, the chief financial officer now owns 51,647 shares of the company’s stock, valued at $5,707,509.97. The disclosure for this sale can be found here. Insiders sold 21,444 shares of company stock worth $2,411,171 over the last three months. Insiders own 6.40% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. BTIG Research lifted their price target on Glaukos from $112.00 to $131.00 and gave the company a “buy” rating in a research note on Monday, July 15th. JPMorgan Chase & Co. lifted their price target on Glaukos from $108.00 to $110.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Jefferies Financial Group raised Glaukos from a “hold” rating to a “buy” rating and lifted their price target for the company from $84.00 to $125.00 in a research note on Monday, May 6th. Needham & Company LLC lifted their price target on Glaukos from $108.00 to $113.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Finally, Mizuho lifted their price target on Glaukos from $85.00 to $100.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Glaukos currently has a consensus rating of “Moderate Buy” and a consensus price target of $120.64.

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.