Bridgewater Associates LP Sells 2,554 Shares of Glaukos Co. (NYSE:GKOS)

Bridgewater Associates LP lowered its holdings in shares of Glaukos Co. (NYSE:GKOS) by 30.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,820 shares of the medical instruments supplier’s stock after selling 2,554 shares during the quarter. Bridgewater Associates LP’s holdings in Glaukos were worth $873,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of GKOS. William Blair Investment Management LLC bought a new position in Glaukos during the fourth quarter valued at about $121,390,000. Alliancebernstein L.P. raised its stake in shares of Glaukos by 1,235.4% in the 4th quarter. Alliancebernstein L.P. now owns 816,153 shares of the medical instruments supplier’s stock valued at $122,374,000 after acquiring an additional 755,035 shares in the last quarter. Norges Bank acquired a new stake in Glaukos in the 4th quarter worth approximately $84,490,000. Raymond James Financial Inc. acquired a new position in Glaukos during the fourth quarter valued at approximately $16,910,000. Finally, Vanguard Group Inc. raised its position in shares of Glaukos by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 5,974,971 shares of the medical instruments supplier’s stock valued at $895,887,000 after purchasing an additional 101,838 shares during the period. Institutional investors and hedge funds own 99.04% of the company’s stock.

Analyst Ratings Changes

GKOS has been the subject of several recent analyst reports. Mizuho decreased their price objective on shares of Glaukos from $200.00 to $175.00 and set an “outperform” rating for the company in a report on Wednesday. Stifel Nicolaus lifted their price objective on Glaukos from $153.00 to $175.00 and gave the stock a “buy” rating in a research note on Tuesday, December 31st. Wells Fargo & Company increased their target price on Glaukos from $153.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Piper Sandler dropped their price target on Glaukos from $180.00 to $165.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 15th. Finally, Needham & Company LLC raised their price objective on shares of Glaukos from $149.00 to $176.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $156.17.

Insider Activity at Glaukos

In other Glaukos news, CFO Alex R. Thurman sold 1,520 shares of the business’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $106.84, for a total value of $162,396.80. Following the completion of the transaction, the chief financial officer now directly owns 53,431 shares of the company’s stock, valued at approximately $5,708,568.04. The trade was a 2.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Tomas Navratil sold 3,416 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $147.14, for a total transaction of $502,630.24. Following the sale, the insider now directly owns 72,437 shares in the company, valued at $10,658,380.18. This trade represents a 4.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.40% of the company’s stock.

Glaukos Stock Performance

Glaukos stock opened at $90.15 on Friday. The firm has a market capitalization of $5.10 billion, a P/E ratio of -31.41 and a beta of 0.88. The stock has a fifty day moving average price of $108.10 and a two-hundred day moving average price of $131.38. Glaukos Co. has a 52-week low of $77.91 and a 52-week high of $163.71. 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 Thursday, February 20th. The medical instruments supplier reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.02). The firm had revenue of $105.50 million during the quarter, compared to analyst estimates of $100.72 million. Glaukos had a negative net margin of 39.04% and a negative return on equity of 16.53%. As a group, analysts anticipate that Glaukos Co. will post -1.08 EPS for the current fiscal year.

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.