Procyon Advisors LLC Takes Position in Glaukos Co. (NYSE:GKOS)

Procyon Advisors LLC acquired a new position in Glaukos Co. (NYSE:GKOS) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,610 shares of the medical instruments supplier’s stock, valued at approximately $210,000.

Several other large investors have also recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. bought a new position in shares of Glaukos in the second quarter worth $6,832,000. Natixis bought a new position in Glaukos in the 1st quarter valued at about $614,000. Vanguard Group Inc. raised its position in shares of Glaukos by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 5,308,897 shares of the medical instruments supplier’s stock worth $500,576,000 after buying an additional 72,159 shares in the last quarter. UniSuper Management Pty Ltd bought a new stake in shares of Glaukos during the 1st quarter worth about $913,000. Finally, Duality Advisers LP acquired a new stake in shares of Glaukos in the 1st quarter worth approximately $3,476,000. 99.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Glaukos

In other Glaukos news, COO Joseph E. Gilliam sold 5,000 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $129.36, for a total value of $646,800.00. Following the completion of the sale, the chief operating officer now owns 102,169 shares in the company, valued at $13,216,581.84. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Gilbert H. Kliman sold 3,000 shares of the business’s stock in a transaction that occurred on 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 sale, the director now owns 32,336 shares of the company’s stock, valued at approximately $4,225,345.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Joseph E. Gilliam sold 5,000 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $129.36, for a total value of $646,800.00. Following the completion of the transaction, the chief operating officer now owns 102,169 shares in the company, valued at $13,216,581.84. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 39,250 shares of company stock valued at $4,825,873. Corporate insiders own 6.40% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on GKOS. Morgan Stanley boosted their target price on Glaukos from $100.00 to $120.00 and gave the stock an “equal weight” rating in a report on Monday, July 15th. Stifel Nicolaus boosted their price objective on Glaukos from $130.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. StockNews.com cut Glaukos from a “hold” rating to a “sell” rating in a research note on Friday, August 30th. Piper Sandler boosted their price target on shares of Glaukos from $110.00 to $140.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Finally, Truist Financial raised their price objective on shares of Glaukos from $145.00 to $152.00 and gave the company a “buy” rating in a research report on Monday. One 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $130.45.

Glaukos Price Performance

GKOS opened at $128.20 on Thursday. The firm has a market capitalization of $6.46 billion, a P/E ratio of -44.51 and a beta of 1.02. The stock has a fifty day moving average of $127.66 and a 200-day moving average of $116.47. The company has a quick ratio of 4.67, a current ratio of 5.48 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.

Glaukos (NYSE:GKOS) last announced its quarterly earnings data on Wednesday, July 31st. The medical instruments supplier reported ($0.52) EPS for the quarter, hitting analysts’ consensus estimates of ($0.52). The firm had revenue of $95.70 million during the quarter, compared to analyst estimates of $88.86 million. Glaukos had a negative return on equity of 22.51% and a negative net margin of 47.39%. The business’s quarterly revenue was up 19.0% compared to the same quarter last year. During the same period last year, the company posted ($0.55) EPS. Equities analysts forecast that Glaukos Co. will post -2.18 EPS for the current fiscal year.

About Glaukos

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.