Picton Mahoney Asset Management Acquires New Shares in Glaukos Co. (NYSE:GKOS)

Picton Mahoney Asset Management bought a new position in shares of Glaukos Co. (NYSE:GKOS) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 840 shares of the medical instruments supplier’s stock, valued at approximately $125,000.

A number of other large investors have also recently made changes to their positions in GKOS. Wellington Management Group LLP lifted its holdings in Glaukos by 294.5% during the 3rd quarter. Wellington Management Group LLP now owns 2,183,766 shares of the medical instruments supplier’s stock worth $284,501,000 after purchasing an additional 1,630,270 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Glaukos by 47.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 641,761 shares of the medical instruments supplier’s stock valued at $83,609,000 after buying an additional 207,338 shares during the period. Loomis Sayles & Co. L P lifted its holdings in shares of Glaukos by 21.6% in the third quarter. Loomis Sayles & Co. L P now owns 673,751 shares of the medical instruments supplier’s stock worth $87,776,000 after buying an additional 119,527 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Glaukos in the fourth quarter valued at approximately $16,910,000. Finally, State Street Corp grew its stake in Glaukos by 5.3% during the third quarter. State Street Corp now owns 1,954,449 shares of the medical instruments supplier’s stock valued at $254,626,000 after acquiring an additional 98,109 shares in the last quarter. 99.04% of the stock is owned by institutional investors.

Insider Activity

In other Glaukos news, insider Tomas Navratil sold 3,416 shares of Glaukos stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $147.14, for a total value of $502,630.24. Following the transaction, the insider now directly owns 72,437 shares of the company’s stock, valued at $10,658,380.18. The trade was a 4.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gilbert H. Kliman sold 10,000 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were 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 of the company’s stock, valued at approximately $4,859,454.08. This trade represents a 23.62 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,744 shares of company stock valued at $2,504,131. Insiders own 6.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GKOS. Citigroup upgraded shares of Glaukos from a “neutral” rating to a “buy” rating and increased their target price for the stock from $132.00 to $162.00 in a research note on Wednesday, December 11th. Truist Financial lifted their price objective on Glaukos from $152.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Mizuho upgraded Glaukos from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $140.00 to $200.00 in a research note on Wednesday, February 19th. BTIG Research lifted their price target on Glaukos from $140.00 to $149.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Finally, Needham & Company LLC upped their price objective on shares of Glaukos from $149.00 to $176.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. One analyst has rated the stock with a sell rating, one has given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $163.25.

Glaukos Stock Up 6.0 %

Shares of NYSE GKOS opened at $102.43 on Monday. The stock has a market capitalization of $5.79 billion, a P/E ratio of -35.69 and a beta of 0.99. Glaukos Co. has a one year low of $85.04 and a one year high of $163.71. The firm’s 50 day simple moving average is $140.86 and its two-hundred day simple moving average is $137.69. 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 (NYSE:GKOS) last issued its earnings results on Thursday, February 20th. The medical instruments supplier reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $100.72 million. As a group, analysts expect that Glaukos Co. will post -1.08 EPS for the current fiscal year.

Glaukos Company 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.