Pathstone Holdings LLC Increases Stock Position in Glaukos Co. (NYSE:GKOS)

Pathstone Holdings LLC raised its holdings in shares of Glaukos Co. (NYSE:GKOS) by 6.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,449 shares of the medical instruments supplier’s stock after purchasing an additional 1,326 shares during the quarter. Pathstone Holdings LLC’s holdings in Glaukos were worth $2,925,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. Fred Alger Management LLC grew its position in shares of Glaukos by 3.8% during the 2nd quarter. Fred Alger Management LLC now owns 1,278,723 shares of the medical instruments supplier’s stock valued at $151,337,000 after buying an additional 47,308 shares during the last quarter. Primecap Management Co. CA raised its position in shares of Glaukos by 43.9% during the 2nd quarter. Primecap Management Co. CA now owns 1,220,815 shares of the medical instruments supplier’s stock worth $144,483,000 after buying an additional 372,180 shares in the last quarter. Driehaus Capital Management LLC lifted its position in Glaukos by 24.0% in the second quarter. Driehaus Capital Management LLC now owns 803,650 shares of the medical instruments supplier’s stock worth $95,112,000 after purchasing an additional 155,653 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Glaukos in the second quarter valued at $67,460,000. Finally, Bank of New York Mellon Corp raised its position in Glaukos by 6.8% in the second quarter. Bank of New York Mellon Corp now owns 413,680 shares of the medical instruments supplier’s stock worth $48,959,000 after acquiring an additional 26,510 shares in the last quarter. Institutional investors and hedge funds own 99.04% of the company’s stock.

Glaukos Price Performance

Shares of GKOS stock opened at $144.00 on Monday. The stock’s fifty day moving average is $132.40 and its 200-day moving average is $123.80. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.71 and a current ratio of 5.54. Glaukos Co. has a 52 week low of $59.22 and a 52 week high of $146.09. The stock has a market capitalization of $7.94 billion, a PE ratio of -47.68 and a beta of 1.02.

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GKOS. Truist Financial increased their price objective on Glaukos from $145.00 to $152.00 and gave the company a “buy” rating in a research report on Monday, October 14th. StockNews.com raised shares of Glaukos from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. Piper Sandler set a $140.00 price target on shares of Glaukos in a research report on Thursday, October 17th. Wells Fargo & Company boosted their target price on shares of Glaukos from $135.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Finally, JPMorgan Chase & Co. increased their target price on Glaukos from $130.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $134.55.

Insider Activity at Glaukos

In other Glaukos news, COO Joseph E. Gilliam sold 2,275 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $138.97, for a total transaction of $316,156.75. Following the completion of the sale, the chief operating officer now owns 102,169 shares in the company, valued at approximately $14,198,425.93. The trade was a 2.18 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Gilbert H. Kliman sold 3,000 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was 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 owns 32,336 shares in the company, valued at $4,225,345.12. This represents a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.40% of the stock is owned by company insiders.

Glaukos Company 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.