M&G PLC Purchases New Holdings in Glaukos Corporation $GKOS

M&G PLC purchased a new position in Glaukos Corporation (NYSE:GKOS) during the third quarter, Holdings Channel.com reports. The fund purchased 85,652 shares of the medical instruments supplier’s stock, valued at approximately $14,047,000.

Several other institutional investors have also bought and sold shares of GKOS. Allworth Financial LP purchased a new stake in Glaukos in the second quarter worth $28,000. Fulcrum Asset Management LLP lifted its position in shares of Glaukos by 91.7% during the 3rd quarter. Fulcrum Asset Management LLP now owns 184 shares of the medical instruments supplier’s stock valued at $29,000 after buying an additional 88 shares during the last quarter. CoreCap Advisors LLC purchased a new position in shares of Glaukos during the 3rd quarter valued at $33,000. Fortitude Family Office LLC purchased a new position in shares of Glaukos during the 3rd quarter valued at $36,000. Finally, Parallel Advisors LLC lifted its position in shares of Glaukos by 159.2% during the 1st quarter. Parallel Advisors LLC now owns 368 shares of the medical instruments supplier’s stock valued at $40,000 after buying an additional 226 shares during the last quarter. Hedge funds and other institutional investors own 99.04% of the company’s stock.

Insider Activity

In other news, Director Gilbert Kliman sold 2,500 shares of the company’s stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $253.00, for a total value of $632,500.00. Following the completion of the transaction, the director directly owned 37,406 shares in the company, valued at approximately $9,463,718. This represents a 6.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 5.90% of the company’s stock.

Glaukos Price Performance

GKOS stock opened at $236.81 on Wednesday. The firm has a 50 day simple moving average of $180.57 and a two-hundred day simple moving average of $145.22. The stock has a market cap of $14.02 billion, a PE ratio of -80.55 and a beta of 0.68. Glaukos Corporation has a one year low of $87.32 and a one year high of $255.18. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.57 and a quick ratio of 4.09.

Glaukos (NYSE:GKOS) last posted its quarterly earnings data on Wednesday, October 28th. The medical instruments supplier reported $0.47 earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.57. Glaukos had a negative net margin of 24.60% and a negative return on equity of 0.97%. The firm had revenue of $211.03 million for the quarter, compared to analysts’ expectations of $168.04 million. During the same quarter last year, the company posted ($0.16) EPS. The business’s quarterly revenue was up 58.0% on a year-over-year basis. On average, analysts predict that Glaukos Corporation will post 0.50 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

GKOS has been the subject of several recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Glaukos in a report on Thursday, October 15th. BTIG Research boosted their price objective on Glaukos from $205.00 to $234.00 and gave the company a “buy” rating in a research note on Thursday, October 29th. Citigroup upped their price objective on shares of Glaukos from $225.00 to $247.00 and gave the company a “buy” rating in a report on Thursday, October 29th. Truist Financial increased their target price on shares of Glaukos from $215.00 to $255.00 and gave the stock a “buy” rating in a research report on Thursday, October 29th. Finally, Zacks Research upgraded shares of Glaukos from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 28th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $216.71.

Glaukos Company Profile

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.