Glaukos Co. (NYSE:GKOS) Stake Lessened by Primecap Management Co. CA

Primecap Management Co. CA cut its stake in Glaukos Co. (NYSE:GKOS) by 2.5% in the 4th quarter, HoldingsChannel reports. The fund owned 1,214,325 shares of the medical instruments supplier’s stock after selling 30,860 shares during the period. Primecap Management Co. CA’s holdings in Glaukos were worth $182,076,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. IFP Advisors Inc bought a new stake in Glaukos during the fourth quarter worth approximately $43,000. Asset Planning Inc bought a new stake in Glaukos during the fourth quarter worth approximately $90,000. Picton Mahoney Asset Management bought a new stake in Glaukos during the fourth quarter worth approximately $125,000. Harvest Fund Management Co. Ltd boosted its holdings in Glaukos by 2,263.2% during the third quarter. Harvest Fund Management Co. Ltd now owns 898 shares of the medical instruments supplier’s stock worth $117,000 after buying an additional 860 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in Glaukos during the fourth quarter worth approximately $153,000. 99.04% of the stock is currently owned by institutional investors.

Insider Activity at Glaukos

In related news, COO Joseph E. Gilliam sold 3,328 shares of Glaukos stock in a transaction on Friday, December 20th. The shares were sold at an average price of $149.85, for a total value of $498,700.80. Following the transaction, the chief operating officer now owns 102,169 shares in the company, valued at $15,310,024.65. This trade represents a 3.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gilbert H. Kliman sold 10,000 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $150.28, for a total transaction of $1,502,800.00. Following the transaction, the director now owns 32,336 shares in the company, valued at approximately $4,859,454.08. The trade was a 23.62 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,744 shares of company stock valued at $2,504,131. Insiders own 6.40% of the company’s stock.

Glaukos Stock Up 0.9 %

GKOS stock opened at $103.12 on Tuesday. 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 $85.04 and a 1 year high of $163.71. The company has a fifty day simple moving average of $139.82 and a 200 day simple moving average of $137.49. The firm has a market cap of $5.83 billion, a PE ratio of -35.93 and a beta of 0.99.

Glaukos (NYSE:GKOS) last released its quarterly earnings data on Thursday, February 20th. The medical instruments supplier reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.02). Glaukos had a negative net margin of 39.04% and a negative return on equity of 16.53%. The business had revenue of $105.50 million during the quarter, compared to analyst estimates of $100.72 million. Sell-side analysts anticipate that Glaukos Co. will post -1.08 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on GKOS shares. Needham & Company LLC raised their target price on shares of Glaukos from $149.00 to $176.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Stifel Nicolaus upped their price target on shares of Glaukos from $153.00 to $175.00 and gave the company a “buy” rating in a research report on Tuesday, December 31st. BTIG Research upped their price target on shares of Glaukos from $140.00 to $149.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Truist Financial upped their price target on shares of Glaukos from $152.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Finally, Wells Fargo & Company upped their price target on shares of Glaukos from $153.00 to $160.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. One analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $163.25.

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.