Oppenheimer Asset Management Inc. Buys 1,982 Shares of Glaukos Co. (NYSE:GKOS)

Oppenheimer Asset Management Inc. grew its stake in shares of Glaukos Co. (NYSE:GKOS) by 11.9% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 18,654 shares of the medical instruments supplier’s stock after acquiring an additional 1,982 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Glaukos were worth $2,208,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Quadrant Capital Group LLC increased its holdings in Glaukos by 54.8% during the 4th quarter. Quadrant Capital Group LLC now owns 929 shares of the medical instruments supplier’s stock worth $74,000 after purchasing an additional 329 shares during the period. GAMMA Investing LLC grew its position in shares of Glaukos by 68.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,192 shares of the medical instruments supplier’s stock worth $141,000 after buying an additional 486 shares in the last quarter. Caldwell Sutter Capital Inc. increased its stake in shares of Glaukos by 5,860.0% during the first quarter. Caldwell Sutter Capital Inc. now owns 1,490 shares of the medical instruments supplier’s stock valued at $140,000 after buying an additional 1,465 shares during the period. Fifth Third Wealth Advisors LLC bought a new stake in shares of Glaukos in the second quarter valued at about $187,000. Finally, LVW Advisors LLC purchased a new stake in Glaukos in the second quarter worth about $213,000. Hedge funds and other institutional investors own 99.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Citigroup downgraded shares of Glaukos from a “buy” rating to a “neutral” rating and raised their target price for the company from $130.00 to $132.00 in a research report on Wednesday, July 10th. Truist Financial reissued a “buy” rating and issued a $145.00 price objective (up previously from $141.00) on shares of Glaukos in a research note on Thursday, August 1st. Needham & Company LLC upped their target price on Glaukos from $131.00 to $137.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Wells Fargo & Company lifted their price target on Glaukos from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Finally, StockNews.com cut Glaukos from a “hold” rating to a “sell” rating in a research note on Friday, August 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $129.82.

Glaukos Trading Down 2.2 %

Shares of NYSE:GKOS opened at $121.58 on Wednesday. The business’s 50-day moving average is $124.57 and its 200 day moving average is $110.63. The company has a debt-to-equity ratio of 0.19, a current ratio of 5.48 and a quick ratio of 4.67. Glaukos Co. has a 1 year low of $59.22 and a 1 year high of $136.60. The firm has a market capitalization of $6.12 billion, a P/E ratio of -42.22 and a beta of 1.03.

Glaukos (NYSE:GKOS) last issued its quarterly earnings results on Wednesday, July 31st. The medical instruments supplier reported ($0.52) earnings per share for the quarter, hitting the consensus estimate of ($0.52). The business had revenue of $95.70 million during 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 quarterly revenue was up 19.0% on a year-over-year basis. During the same quarter last year, the company earned ($0.55) earnings per share. On average, research analysts predict that Glaukos Co. will post -2.18 earnings per share for the current fiscal year.

Insider Buying and Selling at Glaukos

In other news, COO Joseph E. Gilliam sold 2,250 shares of the business’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $121.39, for a total transaction of $273,127.50. Following the sale, the chief operating officer now directly owns 101,845 shares of the company’s stock, valued at $12,362,964.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Glaukos news, COO Joseph E. Gilliam sold 2,250 shares of the business’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $121.39, for a total transaction of $273,127.50. Following the sale, the chief operating officer now owns 101,845 shares in the company, valued at approximately $12,362,964.55. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Gilbert H. Kliman sold 3,000 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $130.67, for a total value of $392,010.00. Following the completion of the transaction, the director now owns 32,336 shares of the company’s stock, valued at $4,225,345.12. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,500 shares of company stock worth $5,099,000. 6.40% of the stock is owned by corporate insiders.

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.