Glaukos Co. (NYSE:GKOS) Shares Sold by Fred Alger Management LLC

Fred Alger Management LLC reduced its position in shares of Glaukos Co. (NYSE:GKOS) by 15.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,076,974 shares of the medical instruments supplier’s stock after selling 201,749 shares during the period. Fred Alger Management LLC owned about 1.95% of Glaukos worth $140,308,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. O Shaughnessy Asset Management LLC acquired a new position in Glaukos in the 1st quarter worth $294,000. Cetera Advisors LLC purchased a new stake in shares of Glaukos during the first quarter worth about $213,000. GAMMA Investing LLC lifted its stake in shares of Glaukos by 68.8% in the second quarter. GAMMA Investing LLC now owns 1,192 shares of the medical instruments supplier’s stock worth $141,000 after acquiring an additional 486 shares in the last quarter. LVW Advisors LLC purchased a new position in Glaukos in the second quarter valued at about $213,000. Finally, Sequoia Financial Advisors LLC purchased a new position in Glaukos in the second quarter valued at about $229,000. 99.04% of the stock is currently owned by hedge funds and other institutional investors.

Glaukos Price Performance

GKOS opened at $142.69 on Friday. The company has a quick ratio of 4.71, a current ratio of 5.54 and a debt-to-equity ratio of 0.19. The company’s 50-day moving average price is $133.81 and its 200 day moving average price is $124.52. Glaukos Co. has a fifty-two week low of $59.58 and a fifty-two week high of $146.86. The firm has a market cap of $7.87 billion, a price-to-earnings ratio of -47.25 and a beta of 1.02.

Glaukos (NYSE:GKOS) last announced its quarterly earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.20. The business had revenue of $96.70 million for the quarter, compared to analysts’ expectations of $91.50 million. Glaukos had a negative return on equity of 18.99% and a negative net margin of 42.43%. The business’s quarterly revenue was up 23.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.50) EPS. As a group, sell-side analysts expect that Glaukos Co. will post -1.91 earnings per share for the current year.

Insider Activity

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

Analysts Set New Price Targets

Several research firms have issued reports on GKOS. StockNews.com upgraded Glaukos from a “sell” rating to a “hold” rating in a report on Monday, October 21st. Truist Financial upped their price target on shares of Glaukos from $145.00 to $152.00 and gave the company a “buy” rating in a report on Monday, October 14th. JPMorgan Chase & Co. increased their price objective on shares of Glaukos from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Needham & Company LLC boosted their target price on shares of Glaukos from $131.00 to $137.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Stifel Nicolaus upped their target price on shares of Glaukos from $130.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Glaukos currently has a consensus rating of “Moderate Buy” and an average target price of $135.45.

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.