Oppenheimer Asset Management Inc. Lowers Position in Glaukos Co. (NYSE:GKOS)

Oppenheimer Asset Management Inc. cut its position in shares of Glaukos Co. (NYSE:GKOS) by 41.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,658 shares of the medical instruments supplier’s stock after selling 6,022 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Glaukos were worth $1,298,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. WCM Investment Management LLC boosted its holdings in shares of Glaukos by 45.7% during the 3rd quarter. WCM Investment Management LLC now owns 99,155 shares of the medical instruments supplier’s stock valued at $12,721,000 after buying an additional 31,084 shares in the last quarter. BNP Paribas Financial Markets lifted its position in Glaukos by 186.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 13,726 shares of the medical instruments supplier’s stock valued at $1,788,000 after acquiring an additional 8,942 shares during the period. First Turn Management LLC bought a new stake in Glaukos during the third quarter worth about $12,520,000. Harbor Capital Advisors Inc. purchased a new stake in Glaukos in the fourth quarter worth about $3,679,000. Finally, Victory Capital Management Inc. increased its stake in shares of Glaukos by 421.8% during the third quarter. Victory Capital Management Inc. now owns 79,211 shares of the medical instruments supplier’s stock valued at $10,320,000 after purchasing an additional 64,031 shares in the last quarter. 99.04% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Gilbert H. Kliman sold 2,000 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $144.01, for a total transaction of $288,020.00. Following the sale, the director now directly owns 32,336 shares in the company, valued at $4,656,707.36. This trade represents a 5.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Joseph E. Gilliam sold 3,328 shares of the company’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $149.85, for a total transaction of $498,700.80. Following the completion of the transaction, the chief operating officer now directly owns 102,169 shares of the company’s stock, valued at $15,310,024.65. This represents a 3.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,744 shares of company stock worth $2,792,151 over the last quarter. 6.40% of the stock is currently owned by corporate insiders.

Glaukos Price Performance

NYSE GKOS opened at $109.12 on Tuesday. 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 firm has a market capitalization of $6.17 billion, a P/E ratio of -38.02 and a beta of 1.04. The company has a 50-day moving average price of $150.22 and a 200-day moving average price of $139.55. Glaukos Co. has a 52 week low of $83.90 and a 52 week high of $163.71.

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

Analyst Ratings Changes

GKOS has been the topic of a number of analyst reports. Wells Fargo & Company boosted their price target on Glaukos from $153.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Stephens raised Glaukos to a “strong-buy” rating in a research note on Monday, December 2nd. UBS Group initiated coverage on Glaukos in a report on Friday, December 6th. They set a “buy” rating and a $182.00 price target for the company. Needham & Company LLC upped their price target 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. Finally, Morgan Stanley lowered shares of Glaukos from an “equal weight” rating to an “underweight” rating and set a $120.00 price objective for the company. in a research note on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $163.25.

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.