PNC Financial Services Group Inc. Cuts Stake in Glaukos Co. (NYSE:GKOS)

PNC Financial Services Group Inc. lessened its position in Glaukos Co. (NYSE:GKOS) by 4.6% in the 4th quarter, Holdings Channel reports. The fund owned 4,211 shares of the medical instruments supplier’s stock after selling 201 shares during the period. PNC Financial Services Group Inc.’s holdings in Glaukos were worth $335,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in GKOS. Brown Capital Management LLC lifted its position in Glaukos by 3.4% in the fourth quarter. Brown Capital Management LLC now owns 2,697,794 shares of the medical instruments supplier’s stock valued at $214,448,000 after purchasing an additional 89,420 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Glaukos by 3.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 923,526 shares of the medical instruments supplier’s stock valued at $73,412,000 after buying an additional 31,213 shares during the period. Primecap Management Co. CA boosted its stake in shares of Glaukos by 23.7% in the fourth quarter. Primecap Management Co. CA now owns 790,035 shares of the medical instruments supplier’s stock valued at $62,800,000 after buying an additional 151,415 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Glaukos by 0.5% in the third quarter. Northern Trust Corp now owns 552,317 shares of the medical instruments supplier’s stock valued at $41,562,000 after buying an additional 2,490 shares in the last quarter. Finally, New York State Common Retirement Fund grew its holdings in Glaukos by 0.4% during the fourth quarter. New York State Common Retirement Fund now owns 513,029 shares of the medical instruments supplier’s stock worth $40,781,000 after acquiring an additional 1,867 shares during the period. Hedge funds and other institutional investors own 99.04% of the company’s stock.

Analysts Set New Price Targets

GKOS has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised their target price on Glaukos from $108.00 to $110.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. BTIG Research boosted their price objective on shares of Glaukos from $107.00 to $112.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Needham & Company LLC upped their target price on shares of Glaukos from $108.00 to $113.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Jefferies Financial Group upgraded shares of Glaukos from a “hold” rating to a “buy” rating and lifted their price target for the company from $84.00 to $125.00 in a research report on Monday, May 6th. Finally, Mizuho upped their price target on Glaukos from $85.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Glaukos presently has an average rating of “Moderate Buy” and a consensus target price of $112.27.

Insider Buying and Selling

In other Glaukos news, COO Joseph E. Gilliam sold 59,801 shares of the firm’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $100.47, for a total transaction of $6,008,206.47. Following the sale, the chief operating officer now directly owns 101,845 shares of the company’s stock, valued at approximately $10,232,367.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO Joseph E. Gilliam sold 2,500 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $113.50, for a total value of $283,750.00. Following the completion of the transaction, the chief operating officer now directly owns 101,845 shares in the company, valued at $11,559,407.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Joseph E. Gilliam sold 59,801 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $100.47, for a total value of $6,008,206.47. Following the completion of the sale, the chief operating officer now directly owns 101,845 shares in the company, valued at $10,232,367.15. The disclosure for this sale can be found here. In the last quarter, insiders sold 81,475 shares of company stock worth $8,387,713. 6.40% of the stock is owned by corporate insiders.

Glaukos Trading Up 0.8 %

Shares of GKOS opened at $118.35 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 5.38 and a quick ratio of 4.68. Glaukos Co. has a 1-year low of $59.22 and a 1-year high of $119.89. The stock has a market cap of $5.96 billion, a price-to-earnings ratio of -41.09 and a beta of 1.09. The firm has a 50 day simple moving average of $109.22 and a 200-day simple moving average of $96.10.

Glaukos (NYSE:GKOS) last released its quarterly earnings results on Wednesday, May 1st. The medical instruments supplier reported ($0.70) earnings per share for the quarter, missing the consensus estimate of ($0.58) by ($0.12). Glaukos had a negative return on equity of 24.69% and a negative net margin of 43.15%. The company had revenue of $85.60 million for the quarter, compared to analysts’ expectations of $79.60 million. During the same period in the previous year, the business posted ($0.59) EPS. The business’s quarterly revenue was up 15.8% on a year-over-year basis. Equities analysts forecast that Glaukos Co. will post -2.24 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.