California Public Employees Retirement System Lowers Stock Holdings in Glaukos Co. (NYSE:GKOS)

California Public Employees Retirement System cut its holdings in shares of Glaukos Co. (NYSE:GKOS) by 4.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 82,192 shares of the medical instruments supplier’s stock after selling 4,049 shares during the quarter. California Public Employees Retirement System’s holdings in Glaukos were worth $12,324,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Glaukos by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 5,974,971 shares of the medical instruments supplier’s stock worth $895,887,000 after acquiring an additional 101,838 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Glaukos by 294.5% in the 3rd quarter. Wellington Management Group LLP now owns 2,183,766 shares of the medical instruments supplier’s stock valued at $284,501,000 after purchasing an additional 1,630,270 shares during the last quarter. State Street Corp grew its stake in shares of Glaukos by 5.3% during the 3rd quarter. State Street Corp now owns 1,954,449 shares of the medical instruments supplier’s stock valued at $254,626,000 after buying an additional 98,109 shares during the period. Geode Capital Management LLC grew its stake in shares of Glaukos by 6.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,172,016 shares of the medical instruments supplier’s stock valued at $152,722,000 after buying an additional 66,134 shares during the period. Finally, William Blair Investment Management LLC acquired a new stake in shares of Glaukos during the 4th quarter worth $121,390,000. 99.04% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on GKOS shares. Truist Financial boosted their price target on Glaukos from $152.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Stifel Nicolaus boosted their target price on Glaukos from $153.00 to $175.00 and gave the stock a “buy” rating in a report on Tuesday, December 31st. Piper Sandler reaffirmed an “overweight” rating and set a $180.00 price target (up from $140.00) on shares of Glaukos in a research report on Monday, January 27th. Needham & Company LLC boosted 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. Finally, Mizuho raised shares of Glaukos from a “neutral” rating to an “outperform” rating and raised their target price for the company from $140.00 to $200.00 in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $163.25.

Glaukos Price Performance

GKOS opened at $83.62 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.71 and a current ratio of 5.54. Glaukos Co. has a 1-year low of $77.91 and a 1-year high of $163.71. The company has a 50-day moving average of $123.88 and a 200-day moving average of $134.61. The company has a market capitalization of $4.73 billion, a P/E ratio of -29.14 and a beta of 0.99.

Glaukos (NYSE:GKOS) last posted its quarterly earnings results on Thursday, February 20th. The medical instruments supplier reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.02). The firm had revenue of $105.50 million for 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%. Equities analysts expect that Glaukos Co. will post -1.08 EPS for the current fiscal year.

Insider Transactions at Glaukos

In other news, insider Tomas Navratil sold 3,416 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now owns 72,437 shares of the company’s stock, valued at approximately $10,658,380.18. The trade was a 4.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $162,396.80. Following the transaction, the chief financial officer now directly owns 53,431 shares of the company’s stock, valued at $5,708,568.04. The trade was a 2.77 % 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 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.