Glaukos Co. (NYSE:GKOS) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA reduced its stake in shares of Glaukos Co. (NYSE:GKOS) by 2.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,214,325 shares of the medical instruments supplier’s stock after selling 30,860 shares during the period. Primecap Management Co. CA owned 2.20% of Glaukos worth $182,076,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. IFP Advisors Inc acquired a new position in shares of Glaukos during the 4th quarter worth approximately $43,000. Asset Planning Inc acquired a new position in Glaukos in the 4th quarter valued at $90,000. Harvest Fund Management Co. Ltd raised its holdings 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 acquiring an additional 860 shares during the last quarter. Picton Mahoney Asset Management acquired a new position in Glaukos in the 4th quarter valued at $125,000. Finally, SBI Securities Co. Ltd. acquired a new position in Glaukos in the 4th quarter valued at $153,000. 99.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, COO Joseph E. Gilliam sold 3,328 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $149.85, for a total transaction of $498,700.80. Following the sale, the chief operating officer now owns 102,169 shares in the company, valued at $15,310,024.65. This represents a 3.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Tomas Navratil sold 3,416 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $147.14, for a total transaction of $502,630.24. Following the sale, the insider now owns 72,437 shares in the company, valued at approximately $10,658,380.18. This trade represents a 4.50 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,744 shares of company stock worth $2,504,131. 6.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

GKOS has been the subject of several analyst reports. Wells Fargo & Company boosted their price target on Glaukos from $153.00 to $160.00 and gave the company an “overweight” rating in a report on Friday, February 21st. UBS Group initiated coverage on shares of Glaukos in a research note on Friday, December 6th. They set a “buy” rating and a $182.00 price objective for the company. Truist Financial boosted their price objective on shares of Glaukos from $152.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Citigroup raised shares of Glaukos from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $132.00 to $162.00 in a research note on Wednesday, December 11th. Finally, Morgan Stanley cut 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 analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Glaukos has a consensus rating of “Moderate Buy” and a consensus price target of $163.25.

Glaukos Stock Performance

NYSE:GKOS opened at $103.12 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 5.54 and a quick ratio of 4.71. The firm has a 50-day moving average of $139.82 and a two-hundred day moving average of $137.49. The stock has a market cap of $5.83 billion, a P/E ratio of -35.93 and a beta of 0.99. Glaukos Co. has a 1-year low of $85.04 and a 1-year high of $163.71.

Glaukos (NYSE:GKOS) last issued its earnings results on Thursday, February 20th. The medical instruments supplier reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.02). The company had revenue of $105.50 million during 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%. On average, research analysts expect that Glaukos Co. will post -1.08 earnings per share 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.