Cynosure Group LLC Buys New Shares in Glaukos Co. (NYSE:GKOS)

Cynosure Group LLC purchased a new position in Glaukos Co. (NYSE:GKOS) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,854 shares of the medical instruments supplier’s stock, valued at approximately $372,000.

Several other institutional investors have also recently made changes to their positions in the stock. Point72 Asset Management L.P. purchased a new position in shares of Glaukos during the 2nd quarter valued at $67,460,000. Primecap Management Co. CA lifted its position in shares of Glaukos by 43.9% in the second quarter. Primecap Management Co. CA now owns 1,220,815 shares of the medical instruments supplier’s stock valued at $144,483,000 after acquiring an additional 372,180 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Glaukos by 148.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 412,376 shares of the medical instruments supplier’s stock worth $48,805,000 after acquiring an additional 246,322 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Glaukos by 47.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 641,761 shares of the medical instruments supplier’s stock worth $83,609,000 after acquiring an additional 207,338 shares during the period. Finally, Driehaus Capital Management LLC grew its position in shares of Glaukos by 24.0% during the second quarter. Driehaus Capital Management LLC now owns 803,650 shares of the medical instruments supplier’s stock worth $95,112,000 after purchasing an additional 155,653 shares in the last quarter. Institutional investors own 99.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Wells Fargo & Company boosted their price target on Glaukos from $135.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. upped their target price on shares of Glaukos from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Stifel Nicolaus lifted their price target on shares of Glaukos from $130.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Needham & Company LLC increased their price objective on shares of Glaukos from $131.00 to $137.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Truist Financial lifted their target price on Glaukos from $145.00 to $152.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $135.45.

Glaukos Trading Up 1.4 %

Shares of NYSE GKOS opened at $142.69 on Friday. The stock has a market capitalization of $7.87 billion, a P/E ratio of -47.25 and a beta of 1.02. Glaukos Co. has a 1-year low of $59.58 and a 1-year high of $146.86. The business’s 50 day moving average is $133.56 and its two-hundred day moving average is $124.39. 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 (NYSE:GKOS) last released its quarterly earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.48) by $0.20. The company had revenue of $96.70 million for the quarter, compared to analyst estimates of $91.50 million. Glaukos had a negative return on equity of 18.99% and a negative net margin of 42.43%. Glaukos’s quarterly revenue was up 23.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.50) EPS. As a group, research analysts expect that Glaukos Co. will post -1.96 EPS for the current year.

Insider Buying and Selling

In other news, Director Gilbert H. Kliman sold 3,000 shares of Glaukos stock in a transaction on Monday, September 9th. The stock was sold at an average price of $130.67, for a total transaction of $392,010.00. Following the completion of the sale, the director now directly owns 32,336 shares in the company, valued at approximately $4,225,345.12. This trade represents a 8.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Joseph E. Gilliam sold 2,275 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $138.97, for a total transaction of $316,156.75. Following the sale, the chief operating officer now directly owns 102,169 shares of the company’s stock, valued at $14,198,425.93. This represents a 2.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.40% of the stock is owned by corporate insiders.

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.