Fifth Third Wealth Advisors LLC Takes $187,000 Position in Glaukos Co. (NYSE:GKOS)

Fifth Third Wealth Advisors LLC bought a new stake in Glaukos Co. (NYSE:GKOS) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,576 shares of the medical instruments supplier’s stock, valued at approximately $187,000.

A number of other large investors also recently modified their holdings of GKOS. Dimensional Fund Advisors LP lifted its holdings in Glaukos by 3.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 923,526 shares of the medical instruments supplier’s stock worth $73,412,000 after acquiring an additional 31,213 shares during the period. Jump Financial LLC lifted its holdings in Glaukos by 513.3% during the fourth quarter. Jump Financial LLC now owns 47,589 shares of the medical instruments supplier’s stock worth $3,783,000 after acquiring an additional 39,829 shares during the period. Norges Bank bought a new stake in Glaukos during the fourth quarter worth $28,807,000. Nomura Holdings Inc. lifted its holdings in Glaukos by 3.2% during the fourth quarter. Nomura Holdings Inc. now owns 232,034 shares of the medical instruments supplier’s stock worth $18,444,000 after acquiring an additional 7,146 shares during the period. Finally, Assenagon Asset Management S.A. bought a new stake in Glaukos during the second quarter worth $6,832,000. Institutional investors own 99.04% of the company’s stock.

Insider Activity

In other news, COO Joseph E. Gilliam sold 5,000 shares of the business’s stock in a transaction dated 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 sale, the chief operating officer now owns 102,169 shares of the company’s stock, valued at approximately $13,216,581.84. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 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 stock was 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Aimee S. Weisner sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $120.00, for a total value of $3,000,000.00. Following the transaction, the director now owns 30,119 shares in the company, valued at approximately $3,614,280. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,000 shares of company stock valued at $5,550,740. Insiders own 6.40% of the company’s stock.

Glaukos Price Performance

Glaukos stock opened at $132.89 on Friday. Glaukos Co. has a 52 week low of $59.22 and a 52 week high of $133.34. The business has a 50-day simple moving average of $120.10 and a 200 day simple moving average of $106.25. The company has a quick ratio of 4.68, a current ratio of 5.48 and a debt-to-equity ratio of 0.19. The stock has a market cap of $6.69 billion, a price-to-earnings ratio of -46.14 and a beta of 1.05.

Glaukos (NYSE:GKOS) last released its earnings results on Wednesday, July 31st. The medical instruments supplier reported ($0.52) earnings per share for the quarter, meeting 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 company had revenue of $95.70 million during the quarter, compared to analyst estimates of $88.86 million. During the same quarter in the previous year, the company posted ($0.55) EPS. Glaukos’s revenue for the quarter was up 19.0% on a year-over-year basis. On average, research analysts forecast that Glaukos Co. will post -2.25 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GKOS. Morgan Stanley lifted their price target on Glaukos from $100.00 to $120.00 and gave the stock an “equal weight” rating in a report on Monday, July 15th. Truist Financial reissued a “buy” rating and issued a $145.00 target price (up from $141.00) on shares of Glaukos in a research report on Thursday, August 1st. BTIG Research raised their target price on Glaukos from $112.00 to $131.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. JPMorgan Chase & Co. raised their target price on Glaukos from $108.00 to $110.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Finally, Needham & Company LLC raised their target price on Glaukos from $131.00 to $137.00 and gave the stock a “buy” rating in a research 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $127.73.

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.