SteelPeak Wealth LLC Purchases New Stake in Glaukos Co. (NYSE:GKOS)

SteelPeak Wealth LLC acquired a new position in Glaukos Co. (NYSE:GKOS) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,639 shares of the medical instruments supplier’s stock, valued at approximately $343,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. grew its stake in shares of Glaukos by 28.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 101,602 shares of the medical instruments supplier’s stock worth $7,646,000 after acquiring an additional 22,652 shares during the period. Mariner LLC boosted its position in Glaukos by 7.1% during the third quarter. Mariner LLC now owns 6,218 shares of the medical instruments supplier’s stock worth $468,000 after purchasing an additional 411 shares during the period. Federated Hermes Inc. purchased a new position in shares of Glaukos in the third quarter worth about $1,247,000. Northern Trust Corp raised its position 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 purchasing an additional 2,490 shares during the period. Finally, Natixis Advisors L.P. lifted its stake in shares of Glaukos by 4.0% during the 3rd quarter. Natixis Advisors L.P. now owns 33,979 shares of the medical instruments supplier’s stock valued at $2,557,000 after buying an additional 1,298 shares in the last quarter. 99.04% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Glaukos

In other Glaukos news, CFO Alex R. Thurman sold 434 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $95.33, for a total value of $41,373.22. Following the completion of the sale, the chief financial officer now owns 54,166 shares of the company’s stock, valued at $5,163,644.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CFO Alex R. Thurman sold 434 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $95.33, for a total value of $41,373.22. Following the completion of the sale, the chief financial officer now directly owns 54,166 shares in the company, valued at approximately $5,163,644.78. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Joseph E. Gilliam sold 59,801 shares of the stock in a transaction on 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 transaction, the chief operating officer now directly owns 101,845 shares in the company, valued at approximately $10,232,367.15. The disclosure for this sale can be found here. In the last three months, insiders have sold 81,475 shares of company stock valued at $8,387,713. Corporate insiders own 6.40% of the company’s stock.

Glaukos Trading Up 0.8 %

Shares of NYSE:GKOS opened at $118.35 on Monday. The company’s fifty day moving average price is $109.22 and its 200-day moving average price is $96.36. 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 one year low of $59.22 and a one year high of $119.89.

Glaukos (NYSE:GKOS) last released its earnings results on Wednesday, May 1st. The medical instruments supplier reported ($0.70) EPS for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.12). Glaukos had a negative net margin of 43.15% and a negative return on equity of 24.69%. The firm had revenue of $85.60 million during the quarter, compared to the consensus estimate of $79.60 million. During the same period in the prior year, the company earned ($0.59) EPS. The firm’s revenue was up 15.8% compared to the same quarter last year. As a group, analysts anticipate that Glaukos Co. will post -2.24 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on GKOS shares. Mizuho boosted their target price on shares of Glaukos from $85.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. JPMorgan Chase & Co. increased their price objective on Glaukos from $108.00 to $110.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Jefferies Financial Group raised Glaukos from a “hold” rating to a “buy” rating and lifted their target price for the company from $84.00 to $125.00 in a report on Monday, May 6th. Truist Financial reissued a “buy” rating and issued a $125.00 price target (up from $120.00) on shares of Glaukos in a report on Thursday, May 2nd. Finally, Needham & Company LLC boosted their price objective on shares of Glaukos from $108.00 to $113.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $112.27.

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.