Inspire Investing LLC Lowers Stock Holdings in Glaukos Co. (NYSE:GKOS)

Inspire Investing LLC lowered its stake in Glaukos Co. (NYSE:GKOS) by 21.6% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 2,987 shares of the medical instruments supplier’s stock after selling 822 shares during the quarter. Inspire Investing LLC’s holdings in Glaukos were worth $354,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GKOS. Quadrant Capital Group LLC grew its stake in shares of 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 acquiring an additional 329 shares during the last quarter. Caldwell Sutter Capital Inc. grew its position in Glaukos by 5,860.0% during the 1st quarter. Caldwell Sutter Capital Inc. now owns 1,490 shares of the medical instruments supplier’s stock valued at $140,000 after purchasing an additional 1,465 shares during the last quarter. GAMMA Investing LLC increased its stake in Glaukos by 68.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,192 shares of the medical instruments supplier’s stock valued at $141,000 after purchasing an additional 486 shares in the last quarter. Fifth Third Wealth Advisors LLC bought a new stake in Glaukos during the 2nd quarter valued at about $187,000. Finally, LVW Advisors LLC purchased a new position in Glaukos in the second quarter worth about $213,000. Institutional investors own 99.04% of the company’s stock.

Glaukos Trading Down 1.8 %

Glaukos stock opened at $127.78 on Monday. Glaukos Co. has a 52-week low of $59.22 and a 52-week high of $136.60. The company has a market cap of $6.44 billion, a P/E ratio of -44.37 and a beta of 1.03. The company has a quick ratio of 4.67, a current ratio of 5.48 and a debt-to-equity ratio of 0.19. The business has a 50-day simple moving average of $124.89 and a two-hundred day simple moving average of $111.72.

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

Insider Buying and Selling

In other Glaukos news, Director Aimee S. Weisner sold 25,000 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $120.00, for a total transaction of $3,000,000.00. Following the completion of the sale, the director now owns 30,119 shares of the company’s stock, valued at $3,614,280. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Glaukos news, Director Gilbert H. Kliman sold 3,000 shares of Glaukos stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $130.67, for a total transaction of $392,010.00. Following the transaction, the director now owns 32,336 shares of the company’s stock, valued at $4,225,345.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $3,000,000.00. Following the completion of the transaction, the director now owns 30,119 shares of the company’s stock, valued at $3,614,280. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,500 shares of company stock valued at $5,099,000. 6.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on GKOS shares. Morgan Stanley increased their price target on shares of Glaukos from $100.00 to $120.00 and gave the company an “equal weight” rating in a report on Monday, July 15th. Piper Sandler increased their target price on Glaukos from $110.00 to $140.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. StockNews.com cut Glaukos from a “hold” rating to a “sell” rating in a research note on Friday, August 30th. BTIG Research increased their price objective on Glaukos from $131.00 to $139.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Finally, Needham & Company LLC boosted 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. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average 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.