Van ECK Associates Corp Reduces Position in Glaukos Co. (NYSE:GKOS)

Van ECK Associates Corp cut its position in shares of Glaukos Co. (NYSE:GKOS) by 16.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,215 shares of the medical instruments supplier’s stock after selling 242 shares during the period. Van ECK Associates Corp’s holdings in Glaukos were worth $158,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in GKOS. Assenagon Asset Management S.A. purchased a new stake in Glaukos in the 2nd quarter valued at about $6,832,000. Natixis purchased a new stake in Glaukos in the 1st quarter valued at about $614,000. Vanguard Group Inc. boosted its position in Glaukos by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 5,308,897 shares of the medical instruments supplier’s stock valued at $500,576,000 after buying an additional 72,159 shares during the period. UniSuper Management Pty Ltd purchased a new stake in Glaukos in the 1st quarter valued at about $913,000. Finally, Seven Eight Capital LP purchased a new stake in Glaukos in the 2nd quarter valued at about $1,940,000. 99.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. StockNews.com raised shares of Glaukos from a “sell” rating to a “hold” rating in a research report on Monday, October 21st. Wells Fargo & Company boosted their price target on shares of Glaukos from $135.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Stifel Nicolaus boosted their price target on shares of Glaukos from $130.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Truist Financial boosted their price target on shares of Glaukos from $145.00 to $152.00 and gave the company a “buy” rating in a report on Monday, October 14th. Finally, Needham & Company LLC boosted their price target on shares of Glaukos from $131.00 to $137.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $134.55.

Glaukos Trading Down 0.3 %

NYSE GKOS opened at $143.21 on Thursday. The company has a quick ratio of 4.71, a current ratio of 5.54 and a debt-to-equity ratio of 0.19. The firm has a market cap of $7.90 billion, a PE ratio of -47.42 and a beta of 1.02. The company has a 50 day moving average price of $130.53 and a 200 day moving average price of $121.82. Glaukos Co. has a 52 week low of $59.22 and a 52 week high of $145.84.

Glaukos (NYSE:GKOS) last posted its quarterly earnings data on Monday, November 4th. The medical instruments supplier reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.48) by $0.20. The firm had revenue of $96.70 million during the quarter, compared to analyst estimates of $91.50 million. Glaukos had a negative net margin of 42.43% and a negative return on equity of 18.99%. Glaukos’s revenue was up 23.9% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.50) EPS. As a group, sell-side analysts forecast that Glaukos Co. will post -1.96 EPS for the current fiscal year.

Insider Buying and Selling at Glaukos

In other Glaukos news, COO Joseph E. Gilliam sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $129.36, for a total transaction of $646,800.00. Following the transaction, the chief operating officer now owns 102,169 shares in the company, valued at approximately $13,216,581.84. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, COO Joseph E. Gilliam sold 2,275 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $138.97, for a total value of $316,156.75. Following the sale, the chief operating officer now directly owns 102,169 shares of the company’s stock, valued at $14,198,425.93. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Joseph E. Gilliam sold 5,000 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $129.36, for a total transaction of $646,800.00. Following the completion of the sale, the chief operating officer now directly owns 102,169 shares in the company, valued at $13,216,581.84. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,275 shares of company stock worth $1,354,967. 6.40% of the stock is owned by corporate insiders.

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.