Truist Financial Corp Increases Stock Holdings in Glaukos Co. (NYSE:GKOS)

Truist Financial Corp boosted its position in Glaukos Co. (NYSE:GKOS) by 8.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,478 shares of the medical instruments supplier’s stock after acquiring an additional 1,490 shares during the quarter. Truist Financial Corp’s holdings in Glaukos were worth $2,187,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. EFG Asset Management North America Corp. lifted its stake in shares of Glaukos by 0.5% during the second quarter. EFG Asset Management North America Corp. now owns 27,205 shares of the medical instruments supplier’s stock worth $3,216,000 after purchasing an additional 128 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Glaukos by 5.4% during the second quarter. AQR Capital Management LLC now owns 4,141 shares of the medical instruments supplier’s stock worth $490,000 after acquiring an additional 211 shares during the last quarter. Xponance Inc. increased its position in shares of Glaukos by 8.4% during the second quarter. Xponance Inc. now owns 3,118 shares of the medical instruments supplier’s stock worth $369,000 after acquiring an additional 241 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Glaukos by 68.8% during the second quarter. GAMMA Investing LLC now owns 1,192 shares of the medical instruments supplier’s stock worth $141,000 after acquiring an additional 486 shares during the last quarter. Finally, Swiss National Bank increased its position in shares of Glaukos by 0.5% during the first quarter. Swiss National Bank now owns 91,500 shares of the medical instruments supplier’s stock worth $8,628,000 after acquiring an additional 500 shares during the last quarter. Institutional investors and hedge funds own 99.04% of the company’s stock.

Analyst Upgrades and Downgrades

GKOS has been the topic of a number of analyst reports. Needham & Company LLC lifted 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. Piper Sandler boosted their price objective on Glaukos from $110.00 to $140.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Truist Financial reissued a “buy” rating and issued a $145.00 price objective (up from $141.00) on shares of Glaukos in a report on Thursday, August 1st. Stifel Nicolaus boosted their price objective on Glaukos from $130.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Finally, StockNews.com lowered Glaukos from a “hold” rating to a “sell” rating in a report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $129.82.

Insider Transactions at Glaukos

In other news, Director Gilbert H. Kliman sold 3,000 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $130.67, for a total value of $392,010.00. Following the transaction, the director now directly owns 32,336 shares of the company’s stock, valued at approximately $4,225,345.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Gilbert H. Kliman sold 3,000 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $130.67, for a total value of $392,010.00. Following the completion of the sale, the director now directly owns 32,336 shares in the company, valued at approximately $4,225,345.12. This represents a 0.00 % 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, Director Aimee S. Weisner sold 25,000 shares of the company’s stock in a transaction 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 sale, the director now owns 30,119 shares of the company’s stock, valued at $3,614,280. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 39,250 shares of company stock valued at $4,825,873. 6.40% of the stock is owned by insiders.

Glaukos Stock Performance

GKOS opened at $128.24 on Friday. The company has a market capitalization of $6.46 billion, a price-to-earnings ratio of -44.53 and a beta of 1.02. 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 Co. has a 1-year low of $59.22 and a 1-year high of $136.60. The business has a 50 day moving average price of $126.90 and a two-hundred day moving average price of $115.37.

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 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 the consensus estimate of $88.86 million. During the same quarter in the prior year, the firm earned ($0.55) EPS. The company’s quarterly revenue was up 19.0% compared to the same quarter last year. Research analysts predict that Glaukos Co. will post -2.18 EPS for the current fiscal year.

Glaukos 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.