Point72 Europe London LLP Has $15.27 Million Stake in Glaukos Co. (NYSE:GKOS)

Point72 Europe London LLP raised its stake in shares of Glaukos Co. (NYSE:GKOS) by 235.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 128,988 shares of the medical instruments supplier’s stock after buying an additional 90,488 shares during the quarter. Glaukos comprises 1.3% of Point72 Europe London LLP’s portfolio, making the stock its 24th biggest position. Point72 Europe London LLP’s holdings in Glaukos were worth $15,266,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. EFG Asset Management North America Corp. raised its stake in Glaukos by 0.5% during the 2nd quarter. EFG Asset Management North America Corp. now owns 27,205 shares of the medical instruments supplier’s stock worth $3,216,000 after buying an additional 128 shares during the period. Corient Private Wealth LLC raised its position in shares of Glaukos by 0.7% during the fourth quarter. Corient Private Wealth LLC now owns 24,775 shares of the medical instruments supplier’s stock worth $1,969,000 after purchasing an additional 163 shares during the period. Xponance Inc. lifted its holdings in shares of Glaukos by 8.4% during the 2nd quarter. Xponance Inc. now owns 3,118 shares of the medical instruments supplier’s stock valued at $369,000 after purchasing an additional 241 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Glaukos by 68.8% in the 2nd quarter. GAMMA Investing LLC now owns 1,192 shares of the medical instruments supplier’s stock valued at $141,000 after purchasing an additional 486 shares during the period. Finally, Swiss National Bank increased its stake in Glaukos by 0.5% during the 1st quarter. Swiss National Bank now owns 91,500 shares of the medical instruments supplier’s stock worth $8,628,000 after purchasing an additional 500 shares in the last quarter. 99.04% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GKOS. Truist Financial reiterated a “buy” rating and issued a $145.00 price target (up previously from $141.00) on shares of Glaukos in a report on Thursday, August 1st. BTIG Research upped their target price on shares of Glaukos from $131.00 to $139.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Needham & Company LLC lifted their price target on Glaukos from $131.00 to $137.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Stifel Nicolaus upped their price objective on Glaukos from $130.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Finally, Morgan Stanley increased their price objective on Glaukos from $100.00 to $120.00 and gave the stock an “equal weight” rating in a report on Monday, July 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $129.82.

Glaukos Stock Performance

Shares of Glaukos stock opened at $127.75 on Wednesday. The company has a current ratio of 5.48, a quick ratio of 4.67 and a debt-to-equity ratio of 0.19. Glaukos Co. has a 12-month low of $59.22 and a 12-month high of $136.60. The business’s 50 day moving average is $125.02 and its 200-day moving average is $112.28.

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

Insider Activity

In related news, COO Joseph E. Gilliam sold 2,250 shares of Glaukos 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 completion of the transaction, the chief operating officer now owns 101,845 shares in the company, valued at $12,362,964.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Joseph E. Gilliam sold 2,250 shares of the firm’s stock in a transaction dated Friday, July 5th. The shares were 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 owns 101,845 shares in the company, valued at approximately $12,362,964.55. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Marc Stapley sold 6,250 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $125.93, for a total value of $787,062.50. Following the completion of the sale, the director now owns 34,076 shares of the company’s stock, valued at $4,291,190.68. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 41,500 shares of company stock valued at $5,099,000. 6.40% of the stock is owned by company insiders.

Glaukos 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.