Iron Triangle Partners LP Sells 290,482 Shares of Glaukos Co. (NYSE:GKOS)

Iron Triangle Partners LP trimmed its stake in Glaukos Co. (NYSE:GKOS) by 57.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 217,674 shares of the medical instruments supplier’s stock after selling 290,482 shares during the period. Glaukos makes up about 3.9% of Iron Triangle Partners LP’s portfolio, making the stock its 11th biggest position. Iron Triangle Partners LP owned about 0.39% of Glaukos worth $28,359,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. Cetera Advisors LLC bought a new stake in shares of Glaukos during the 1st quarter worth approximately $213,000. GAMMA Investing LLC grew its holdings 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 purchasing an additional 486 shares during the last quarter. LVW Advisors LLC bought a new stake in Glaukos during the 2nd quarter valued at about $213,000. Sequoia Financial Advisors LLC purchased a new stake in Glaukos in the 2nd quarter valued at about $229,000. Finally, Assenagon Asset Management S.A. bought a new position in Glaukos in the 2nd quarter worth about $6,832,000. Institutional investors own 99.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Truist Financial raised 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. BTIG Research boosted their target price on shares of Glaukos from $140.00 to $149.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. StockNews.com upgraded Glaukos from a “sell” rating to a “hold” rating in a report on Monday, October 21st. Morgan Stanley cut Glaukos from an “equal weight” rating to an “underweight” rating and set a $120.00 target price for the company. in a report on Monday. Finally, Piper Sandler set a $140.00 price target on Glaukos in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $136.18.

Insider Activity

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

Glaukos Stock Down 3.2 %

Shares of GKOS stock opened at $139.07 on Tuesday. The firm’s 50-day moving average is $134.36 and its two-hundred day moving average is $125.16. The company has a quick ratio of 4.71, a current ratio of 5.54 and a debt-to-equity ratio of 0.19. Glaukos Co. has a 12 month low of $59.58 and a 12 month high of $146.86.

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

About Glaukos

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.