Geode Capital Management LLC Raises Holdings in Glaukos Co. (NYSE:GKOS)

Geode Capital Management LLC grew its holdings in Glaukos Co. (NYSE:GKOS) by 2.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,197,215 shares of the medical instruments supplier’s stock after buying an additional 25,199 shares during the quarter. Geode Capital Management LLC’s holdings in Glaukos were worth $179,555,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of GKOS. The Manufacturers Life Insurance Company boosted its stake in Glaukos by 2.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 28,343 shares of the medical instruments supplier’s stock worth $3,693,000 after buying an additional 632 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Glaukos by 186.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 13,726 shares of the medical instruments supplier’s stock worth $1,788,000 after acquiring an additional 8,942 shares during the period. HighTower Advisors LLC boosted its position in shares of Glaukos by 3.3% in the third quarter. HighTower Advisors LLC now owns 3,207 shares of the medical instruments supplier’s stock worth $416,000 after acquiring an additional 103 shares during the last quarter. Stifel Financial Corp grew its holdings in Glaukos by 37.7% in the third quarter. Stifel Financial Corp now owns 4,230 shares of the medical instruments supplier’s stock valued at $551,000 after purchasing an additional 1,157 shares during the period. Finally, State Street Corp grew its holdings in Glaukos by 5.3% in the third quarter. State Street Corp now owns 1,954,449 shares of the medical instruments supplier’s stock valued at $254,626,000 after purchasing an additional 98,109 shares during the period. 99.04% of the stock is currently owned by hedge funds and other institutional investors.

Glaukos Stock Performance

Shares of GKOS opened at $83.62 on Monday. The stock has a market capitalization of $4.73 billion, a PE ratio of -29.14 and a beta of 0.88. The business’s fifty day moving average price is $123.88 and its 200 day moving average price is $134.70. The company has a debt-to-equity ratio of 0.19, a current ratio of 5.54 and a quick ratio of 4.71. Glaukos Co. has a 12-month low of $77.91 and a 12-month high of $163.71.

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Stifel Nicolaus lifted their price target on shares of Glaukos from $153.00 to $175.00 and gave the company a “buy” rating in a report on Tuesday, December 31st. Piper Sandler reiterated an “overweight” rating and issued a $180.00 target price (up previously from $140.00) on shares of Glaukos in a report on Monday, January 27th. Mizuho upgraded Glaukos from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $140.00 to $200.00 in a research note on Wednesday, February 19th. Needham & Company LLC lifted their price objective on Glaukos from $149.00 to $176.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Finally, Wells Fargo & Company increased their target price on shares of Glaukos from $153.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $163.25.

Insider Transactions at Glaukos

In related news, CFO Alex R. Thurman sold 1,520 shares of Glaukos stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $106.84, for a total transaction of $162,396.80. Following the sale, the chief financial officer now directly owns 53,431 shares in the company, valued at $5,708,568.04. The trade was a 2.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Tomas Navratil sold 3,416 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $147.14, for a total transaction 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 6.40% of the company’s stock.

Glaukos 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.