6,080 Shares in Glaukos Co. (NYSE:GKOS) Bought by Jennison Associates LLC

Jennison Associates LLC acquired a new stake in shares of Glaukos Co. (NYSE:GKOS) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 6,080 shares of the medical instruments supplier’s stock, valued at approximately $792,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. EFG Asset Management North America Corp. increased its position 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 valued at $3,216,000 after buying an additional 128 shares during the period. Values First Advisors Inc. bought a new stake in Glaukos during the 3rd quarter valued at approximately $25,000. New York State Teachers Retirement System grew its holdings in shares of Glaukos by 0.4% during the 3rd quarter. New York State Teachers Retirement System now owns 48,143 shares of the medical instruments supplier’s stock worth $6,272,000 after acquiring an additional 200 shares during the period. KBC Group NV grew its holdings in shares of Glaukos by 16.2% during the 3rd quarter. KBC Group NV now owns 1,445 shares of the medical instruments supplier’s stock worth $188,000 after acquiring an additional 201 shares during the period. Finally, Inspire Investing LLC raised its position in shares of Glaukos by 6.9% in the 3rd quarter. Inspire Investing LLC now owns 3,193 shares of the medical instruments supplier’s stock worth $416,000 after acquiring an additional 206 shares in the last quarter. 99.04% of the stock is owned by hedge funds and other institutional investors.

Glaukos Price Performance

Shares of GKOS opened at $144.00 on Friday. Glaukos Co. has a twelve month low of $59.22 and a twelve month high of $146.09. The company has a market capitalization of $7.94 billion, a P/E ratio of -47.68 and a beta of 1.02. The firm has a 50 day moving average of $132.40 and a 200 day moving average of $123.58. The company has a quick ratio of 4.71, a current ratio of 5.54 and a debt-to-equity ratio of 0.19.

Glaukos (NYSE:GKOS) last posted its earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.20. Glaukos had a negative return on equity of 18.99% and a negative net margin of 42.43%. The business had revenue of $96.70 million during the quarter, compared to analyst estimates of $91.50 million. During the same quarter last year, the company earned ($0.50) EPS. The company’s quarterly revenue was up 23.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Glaukos Co. will post -1.96 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, COO Joseph E. Gilliam sold 2,275 shares of Glaukos stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $138.97, for a total value of $316,156.75. Following the completion of the sale, the chief operating officer now owns 102,169 shares of the company’s stock, valued at $14,198,425.93. The trade was a 2.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gilbert H. Kliman sold 3,000 shares of the stock in a transaction dated 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 transaction, the director now directly owns 32,336 shares in the company, valued at approximately $4,225,345.12. This represents a 8.49 % decrease in their position. The disclosure for this sale can be found here. 6.40% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on GKOS. Truist Financial upped their price target on Glaukos from $145.00 to $152.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Piper Sandler set a $140.00 target price on shares of Glaukos in a research report on Thursday, October 17th. JPMorgan Chase & Co. lifted their price target on shares of Glaukos from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. StockNews.com raised shares of Glaukos from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. Finally, Stifel Nicolaus raised their target price on shares of Glaukos from $130.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Glaukos currently has a consensus rating of “Moderate Buy” and an average target price of $134.55.

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.