Wealth Alliance Purchases Shares of 2,081 Glaukos Co. (NYSE:GKOS)

Wealth Alliance purchased a new position in Glaukos Co. (NYSE:GKOS) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,081 shares of the medical instruments supplier’s stock, valued at approximately $246,000.

A number of other hedge funds have also recently modified their holdings of GKOS. Primecap Management Co. CA grew its stake in shares of Glaukos by 43.9% in the second quarter. Primecap Management Co. CA now owns 1,220,815 shares of the medical instruments supplier’s stock worth $144,483,000 after purchasing an additional 372,180 shares during the last quarter. Norges Bank bought a new stake in shares of Glaukos in the 4th quarter worth approximately $28,807,000. Allspring Global Investments Holdings LLC increased its stake in shares of Glaukos by 148.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 412,376 shares of the medical instruments supplier’s stock valued at $48,805,000 after buying an additional 246,322 shares during the period. Cubist Systematic Strategies LLC bought a new position in shares of Glaukos during the fourth quarter valued at approximately $15,065,000. Finally, Iron Triangle Partners LP lifted its stake in Glaukos by 75.6% in the first quarter. Iron Triangle Partners LP now owns 429,525 shares of the medical instruments supplier’s stock worth $40,500,000 after acquiring an additional 184,919 shares during the period. Hedge funds and other institutional investors own 99.04% of the company’s stock.

Glaukos Trading Down 1.8 %

NYSE GKOS opened at $127.78 on Friday. The stock’s fifty day moving average price is $124.89 and its 200-day moving average price is $111.35. The company has a current ratio of 5.48, a quick ratio of 4.67 and a debt-to-equity ratio of 0.19. The stock has a market cap of $6.44 billion, a P/E ratio of -44.37 and a beta of 1.03. 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, meeting the consensus estimate of ($0.52). The company had revenue of $95.70 million for the quarter, compared to the consensus estimate of $88.86 million. Glaukos had a negative net margin of 47.39% and a negative return on equity of 22.51%. Glaukos’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.55) EPS. As a group, equities analysts forecast that Glaukos Co. will post -2.18 EPS for the current fiscal year.

Insider Buying and Selling

In other Glaukos news, COO Joseph E. Gilliam sold 2,250 shares of Glaukos stock in a transaction on Friday, July 5th. The stock was sold at an average price of $121.39, for a total value of $273,127.50. Following the completion of the sale, the chief operating officer now owns 101,845 shares of the company’s stock, valued at approximately $12,362,964.55. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, COO Joseph E. Gilliam sold 2,250 shares of the company’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $121.39, for a total transaction of $273,127.50. Following the transaction, the chief operating officer now directly owns 101,845 shares of the company’s stock, valued at $12,362,964.55. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Marc Stapley sold 6,250 shares of Glaukos stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $125.93, for a total value of $787,062.50. Following the completion of the sale, the director now owns 34,076 shares of the company’s stock, valued at $4,291,190.68. The disclosure for this sale can be found here. Insiders sold a total of 41,500 shares of company stock worth $5,099,000 in the last three months. Insiders own 6.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on GKOS shares. Truist Financial reissued a “buy” rating and set a $145.00 price objective (up from $141.00) on shares of Glaukos in a research report on Thursday, August 1st. Piper Sandler increased their price target on shares of Glaukos from $110.00 to $140.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Citigroup lowered shares of Glaukos from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $130.00 to $132.00 in a report on Wednesday, July 10th. StockNews.com downgraded Glaukos from a “hold” rating to a “sell” rating in a report on Friday, August 30th. Finally, Needham & Company LLC raised their target price on Glaukos from $131.00 to $137.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. One equities research 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target 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.