Congress Asset Management Co. Buys Shares of 1,463 Glaukos Co. (NYSE:GKOS)

Congress Asset Management Co. bought a new position in Glaukos Co. (NYSE:GKOS) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 1,463 shares of the medical instruments supplier’s stock, valued at approximately $219,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in GKOS. WCM Investment Management LLC grew its holdings in Glaukos by 45.7% during the 3rd quarter. WCM Investment Management LLC now owns 99,155 shares of the medical instruments supplier’s stock worth $12,721,000 after acquiring an additional 31,084 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Glaukos by 186.9% during the third quarter. BNP Paribas Financial Markets now owns 13,726 shares of the medical instruments supplier’s stock valued at $1,788,000 after purchasing an additional 8,942 shares in the last quarter. First Turn Management LLC purchased a new position in Glaukos during the third quarter valued at approximately $12,520,000. Harbor Capital Advisors Inc. purchased a new position in Glaukos during the fourth quarter valued at approximately $3,679,000. Finally, Victory Capital Management Inc. raised its stake in Glaukos by 421.8% in the third quarter. Victory Capital Management Inc. now owns 79,211 shares of the medical instruments supplier’s stock worth $10,320,000 after buying an additional 64,031 shares in the last quarter. Institutional investors own 99.04% of the company’s stock.

Insiders Place Their Bets

In other Glaukos news, COO Joseph E. Gilliam sold 3,328 shares of Glaukos stock in a transaction dated 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 owns 102,169 shares in the company, valued at approximately $15,310,024.65. This trade represents a 3.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Gilbert H. Kliman sold 10,000 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $150.28, for a total value of $1,502,800.00. Following the sale, the director now directly owns 32,336 shares in the company, valued at approximately $4,859,454.08. This trade represents a 23.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,328 shares of company stock valued at $2,289,521. 6.40% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on GKOS shares. BTIG Research lifted their price target on Glaukos from $140.00 to $149.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Stephens raised shares of Glaukos to a “strong-buy” rating in a research report on Monday, December 2nd. Truist Financial increased their target price on shares of Glaukos from $152.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. UBS Group began coverage on shares of Glaukos in a report on Friday, December 6th. They issued a “buy” rating and a $182.00 price target on the stock. Finally, Citigroup upgraded Glaukos from a “neutral” rating to a “buy” rating and increased their price objective for the company from $132.00 to $162.00 in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $151.08.

Glaukos Trading Down 0.1 %

Glaukos stock opened at $153.00 on Wednesday. The stock has a 50-day moving average price of $151.95 and a 200 day moving average price of $138.62. The company has a market capitalization of $8.44 billion, a price-to-earnings ratio of -50.66 and a beta of 1.04. Glaukos Co. has a 52 week low of $83.90 and a 52 week high of $163.71. The company has a quick ratio of 4.71, a current ratio of 5.54 and a debt-to-equity ratio of 0.19.

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.