Van ECK Associates Corp Has $172,000 Stock Holdings in Glaukos Co. (NYSE:GKOS)

Van ECK Associates Corp lowered its holdings in shares of Glaukos Co. (NYSE:GKOS) by 20.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 1,457 shares of the medical instruments supplier’s stock after selling 381 shares during the period. Van ECK Associates Corp’s holdings in Glaukos were worth $172,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Glaukos during the 4th quarter worth approximately $28,807,000. Allspring Global Investments Holdings LLC boosted its stake in Glaukos by 148.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 412,376 shares of the medical instruments supplier’s stock worth $48,805,000 after acquiring an additional 246,322 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Glaukos in the fourth quarter worth $15,065,000. Iron Triangle Partners LP increased its stake in Glaukos by 75.6% in the first quarter. Iron Triangle Partners LP now owns 429,525 shares of the medical instruments supplier’s stock valued at $40,500,000 after purchasing an additional 184,919 shares in the last quarter. Finally, Primecap Management Co. CA raised its holdings in shares of Glaukos by 23.7% during 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 purchasing an additional 151,415 shares during the period. 99.04% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Aimee S. Weisner sold 25,000 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $120.00, for a total transaction of $3,000,000.00. Following the completion of the sale, the director now directly owns 30,119 shares of the company’s stock, valued at approximately $3,614,280. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Glaukos news, Director Aimee S. Weisner sold 25,000 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $120.00, for a total value of $3,000,000.00. Following the transaction, the director now directly owns 30,119 shares in the company, valued at $3,614,280. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Joseph E. Gilliam sold 2,250 shares of Glaukos stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $121.39, for a total transaction of $273,127.50. Following the completion of the sale, the chief operating officer now directly owns 101,845 shares in the company, valued at approximately $12,362,964.55. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,500 shares of company stock valued at $4,706,990. Insiders own 6.40% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on GKOS. Truist Financial restated a “buy” rating and issued a $145.00 target price (up from $141.00) on shares of Glaukos in a research note on Thursday, August 1st. BTIG Research boosted their price objective on Glaukos from $131.00 to $139.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Needham & Company LLC upped their target price on Glaukos from $131.00 to $137.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Morgan Stanley lifted their price target on shares of Glaukos from $100.00 to $120.00 and gave the company an “equal weight” rating in a research report on Monday, July 15th. Finally, Wells Fargo & Company upped their price objective on shares of Glaukos from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $129.82.

Glaukos Stock Up 0.1 %

GKOS opened at $129.41 on Tuesday. Glaukos Co. has a fifty-two week low of $59.22 and a fifty-two week high of $136.60. The company has a debt-to-equity ratio of 0.19, a current ratio of 5.48 and a quick ratio of 4.67. The company’s 50-day moving average is $124.04 and its 200 day moving average is $109.38. The firm has a market capitalization of $7.11 billion, a P/E ratio of -44.93 and a beta of 1.02.

Glaukos (NYSE:GKOS) last announced its earnings results on Wednesday, July 31st. The medical instruments supplier reported ($0.52) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.52). The firm had revenue of $95.70 million for the quarter, compared to the consensus estimate of $88.86 million. Glaukos had a negative return on equity of 22.51% and a negative net margin of 47.39%. The company’s revenue was up 19.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.55) EPS. Research analysts expect that Glaukos Co. will post -2.18 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.