Susquehanna Fundamental Investments LLC Takes Position in Glaukos Co. (NYSE:GKOS)

Susquehanna Fundamental Investments LLC purchased a new stake in shares of Glaukos Co. (NYSE:GKOS) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,450 shares of the medical instruments supplier’s stock, valued at approximately $882,000.

Several other hedge funds have also added to or reduced their stakes in GKOS. Lighthouse Investment Partners LLC lifted its holdings in Glaukos by 285.8% in the second quarter. Lighthouse Investment Partners LLC now owns 45,327 shares of the medical instruments supplier’s stock valued at $5,364,000 after buying an additional 33,577 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Glaukos by 7.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 27,711 shares of the medical instruments supplier’s stock worth $3,280,000 after purchasing an additional 1,926 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Glaukos by 5.4% in the 2nd quarter. AQR Capital Management LLC now owns 4,141 shares of the medical instruments supplier’s stock worth $490,000 after purchasing an additional 211 shares during the last quarter. Point72 Europe London LLP grew its stake in shares of Glaukos by 235.0% during the second quarter. Point72 Europe London LLP now owns 128,988 shares of the medical instruments supplier’s stock worth $15,266,000 after purchasing an additional 90,488 shares during the period. Finally, Fred Alger Management LLC increased its holdings in Glaukos by 3.8% in the second quarter. Fred Alger Management LLC now owns 1,278,723 shares of the medical instruments supplier’s stock valued at $151,337,000 after purchasing an additional 47,308 shares during the last quarter. Institutional investors own 99.04% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on GKOS shares. Stifel Nicolaus raised their target price on Glaukos from $130.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. BTIG Research boosted their price objective on shares of Glaukos from $131.00 to $139.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Citigroup downgraded shares of Glaukos from a “buy” rating to a “neutral” rating and upped their target price for the company from $130.00 to $132.00 in a research note on Wednesday, July 10th. Wells Fargo & Company lifted their price target on shares of Glaukos from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Finally, Piper Sandler upped their price objective on shares of Glaukos from $110.00 to $140.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. One 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’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $129.82.

Insider Activity at Glaukos

In other Glaukos news, Director Gilbert H. Kliman sold 3,000 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $130.67, for a total transaction of $392,010.00. Following the sale, the director now directly owns 32,336 shares of the company’s stock, valued at approximately $4,225,345.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Aimee S. Weisner sold 25,000 shares of the firm’s stock in a transaction on 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 completion of the transaction, the director now directly owns 30,119 shares of the company’s stock, valued at $3,614,280. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gilbert H. Kliman sold 3,000 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $130.67, for a total transaction of $392,010.00. Following the transaction, the director now owns 32,336 shares in the company, valued at $4,225,345.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,500 shares of company stock valued at $5,099,000. Corporate insiders own 6.40% of the company’s stock.

Glaukos Stock Performance

Shares of Glaukos stock opened at $128.47 on Thursday. 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 firm has a market cap of $6.47 billion, a price-to-earnings ratio of -44.61 and a beta of 1.03. The stock’s 50-day moving average is $125.56 and its 200-day moving average is $113.73. Glaukos Co. has a one year low of $59.22 and a one year high of $136.60.

Glaukos (NYSE:GKOS) last released its quarterly 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). Glaukos had a negative return on equity of 22.51% and a negative net margin of 47.39%. The firm had revenue of $95.70 million during the quarter, compared to the consensus estimate of $88.86 million. During the same quarter in the prior year, the firm posted ($0.55) EPS. The business’s revenue was up 19.0% on a year-over-year basis. Equities analysts predict 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.