Glaukos Co. (NYSE:GKOS) Shares Sold by Fmr LLC

Fmr LLC trimmed its holdings in shares of Glaukos Co. (NYSE:GKOS) by 39.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,584,488 shares of the medical instruments supplier’s stock after selling 4,203,431 shares during the quarter. Fmr LLC owned approximately 0.12% of Glaukos worth $857,827,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GKOS. Values First Advisors Inc. acquired a new position in shares of Glaukos during the third quarter valued at approximately $25,000. Harvest Fund Management Co. Ltd raised its stake in Glaukos by 2,263.2% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 898 shares of the medical instruments supplier’s stock valued at $117,000 after purchasing an additional 860 shares during the last quarter. GAMMA Investing LLC boosted its stake in Glaukos by 68.8% during the 2nd 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. Fifth Third Wealth Advisors LLC purchased a new stake in shares of Glaukos during the second quarter worth $187,000. Finally, KBC Group NV raised its position in shares of Glaukos by 16.2% in the third quarter. KBC Group NV now owns 1,445 shares of the medical instruments supplier’s stock valued at $188,000 after buying an additional 201 shares during the last quarter. Hedge funds and other institutional investors own 99.04% of the company’s stock.

Glaukos Price Performance

Shares of GKOS opened at $142.68 on Thursday. The firm has a 50-day simple moving average of $133.15 and a two-hundred day simple moving average of $124.27. 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 Co. has a 1-year low of $59.58 and a 1-year high of $146.86. The stock has a market cap of $7.87 billion, a PE ratio of -47.25 and a beta of 1.02.

Glaukos (NYSE:GKOS) last announced its 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. Glaukos had a negative return on equity of 18.99% and a negative net margin of 42.43%. The company had revenue of $96.70 million for the quarter, compared to analyst estimates of $91.50 million. During the same quarter in the previous year, the company earned ($0.50) earnings per share. The firm’s quarterly revenue was up 23.9% compared to the same quarter last year. As a group, analysts forecast that Glaukos Co. will post -1.96 EPS for the current year.

Insider Buying and Selling

In related news, Director Gilbert H. Kliman sold 3,000 shares of the business’s stock in a transaction on Monday, September 9th. The stock was 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 through 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 value of $316,156.75. Following the sale, the chief operating officer now owns 102,169 shares in the company, 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. 6.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

GKOS has been the subject of several research reports. JPMorgan Chase & Co. upped 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. Piper Sandler set a $140.00 price target on Glaukos in a research report on Thursday, October 17th. BTIG Research increased their price target on Glaukos from $140.00 to $149.00 and gave the company a “buy” rating in a report on Tuesday. Truist Financial boosted their price objective on Glaukos from $145.00 to $152.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Finally, StockNews.com raised Glaukos from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $135.45.

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.