Seven Eight Capital LP Acquires New Position in Glaukos Co. (NYSE:GKOS)

Seven Eight Capital LP acquired a new stake in Glaukos Co. (NYSE:GKOS) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 16,391 shares of the medical instruments supplier’s stock, valued at approximately $1,940,000.

Several other large investors have also bought and sold shares of GKOS. Quadrant Capital Group LLC raised its holdings in Glaukos by 54.8% in the fourth quarter. Quadrant Capital Group LLC now owns 929 shares of the medical instruments supplier’s stock worth $74,000 after purchasing an additional 329 shares during the period. Caldwell Sutter Capital Inc. raised its holdings in Glaukos by 5,860.0% in the first quarter. Caldwell Sutter Capital Inc. now owns 1,490 shares of the medical instruments supplier’s stock worth $140,000 after purchasing an additional 1,465 shares during the period. GAMMA Investing LLC raised its holdings in Glaukos by 68.8% in the second quarter. GAMMA Investing LLC now owns 1,192 shares of the medical instruments supplier’s stock worth $141,000 after purchasing an additional 486 shares during the period. Fifth Third Wealth Advisors LLC acquired a new stake in shares of Glaukos during the second quarter worth $187,000. Finally, LVW Advisors LLC acquired a new stake in shares of Glaukos during the second quarter worth $213,000. 99.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Glaukos

In other news, Director Gilbert H. Kliman sold 3,000 shares of the firm’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 completion of the sale, the director now owns 32,336 shares in the company, valued at approximately $4,225,345.12. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Gilbert H. Kliman sold 3,000 shares of the firm’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 completion of the sale, the director now owns 32,336 shares in the company, valued at approximately $4,225,345.12. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Marc Stapley sold 6,250 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $125.93, for a total transaction of $787,062.50. Following the sale, the director now owns 34,076 shares of the company’s stock, valued at approximately $4,291,190.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 41,500 shares of company stock worth $5,099,000. 6.40% of the stock is owned by insiders.

Glaukos Stock Performance

Shares of GKOS opened at $122.31 on Thursday. The firm has a 50-day moving average of $124.62 and a 200-day moving average of $110.94. Glaukos Co. has a one year low of $59.22 and a one year high of $136.60. The company has a market cap of $6.16 billion, a PE ratio of -42.47 and a beta of 1.03. The company has a debt-to-equity ratio of 0.19, a current ratio of 5.48 and a quick ratio of 4.67.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on GKOS shares. StockNews.com lowered shares of Glaukos from a “hold” rating to a “sell” rating in a report on Friday, August 30th. Piper Sandler raised their target price 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. BTIG Research raised their target price on shares of Glaukos from $131.00 to $139.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Truist Financial reaffirmed a “buy” rating and issued a $145.00 target price (up previously from $141.00) on shares of Glaukos in a research report on Thursday, August 1st. Finally, Citigroup downgraded shares of Glaukos from a “buy” rating to a “neutral” rating and raised their target price for the company from $130.00 to $132.00 in a research report on Wednesday, July 10th. One investment 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $129.82.

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.