Zurcher Kantonalbank Zurich Cantonalbank Raises Holdings in Glaukos Co. (NYSE:GKOS)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Glaukos Co. (NYSE:GKOS) by 36.4% in the fourth quarter, HoldingsChannel reports. The firm owned 14,939 shares of the medical instruments supplier’s stock after acquiring an additional 3,983 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Glaukos were worth $2,240,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of GKOS. IFP Advisors Inc purchased a new position in shares of Glaukos during the 4th quarter worth approximately $43,000. Asset Planning Inc purchased a new stake in Glaukos in the 4th quarter worth approximately $90,000. Harvest Fund Management Co. Ltd grew its stake in Glaukos by 2,263.2% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 898 shares of the medical instruments supplier’s stock worth $117,000 after acquiring an additional 860 shares during the period. SBI Securities Co. Ltd. purchased a new stake in Glaukos in the 4th quarter worth approximately $153,000. Finally, Smartleaf Asset Management LLC grew its stake in Glaukos by 275.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,100 shares of the medical instruments supplier’s stock worth $164,000 after acquiring an additional 807 shares during the period. 99.04% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on GKOS. Stephens raised shares of Glaukos to a “strong-buy” rating in a research note on Monday, December 2nd. Citigroup raised shares of Glaukos from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $132.00 to $162.00 in a research note on Wednesday, December 11th. Mizuho raised shares of Glaukos from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $140.00 to $200.00 in a research note on Wednesday, February 19th. BTIG Research boosted their price objective on shares of Glaukos from $140.00 to $149.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $180.00 target price (up from $140.00) on shares of Glaukos in a research report on Monday, January 27th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $163.25.

Insider Transactions at Glaukos

In related news, insider Tomas Navratil sold 3,416 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $147.14, for a total value of $502,630.24. Following the completion of the transaction, the insider now owns 72,437 shares of the company’s stock, valued at approximately $10,658,380.18. This represents a 4.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Joseph E. Gilliam sold 3,328 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $149.85, for a total value of $498,700.80. Following the completion of the transaction, the chief operating officer now directly owns 102,169 shares of the company’s stock, valued at $15,310,024.65. This represents a 3.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,744 shares of company stock valued at $2,504,131 over the last quarter. Company insiders own 6.40% of the company’s stock.

Glaukos Price Performance

Shares of NYSE GKOS opened at $102.43 on Monday. Glaukos Co. has a 1-year low of $85.04 and a 1-year high of $163.71. The business has a 50-day moving average of $140.86 and a 200-day moving average of $137.69. The company has a debt-to-equity ratio of 0.19, a current ratio of 5.54 and a quick ratio of 4.71. The company has a market capitalization of $5.79 billion, a price-to-earnings ratio of -35.69 and a beta of 0.99.

Glaukos (NYSE:GKOS) last issued its earnings results on Thursday, February 20th. The medical instruments supplier reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.02). Glaukos had a negative return on equity of 16.53% and a negative net margin of 39.04%. The company had revenue of $105.50 million during the quarter, compared to analysts’ expectations of $100.72 million. On average, equities analysts anticipate that Glaukos Co. will post -1.08 EPS 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.