Glaukos Co. (NYSE:GKOS) Stake Lifted by BNP Paribas Financial Markets

BNP Paribas Financial Markets increased its position in shares of Glaukos Co. (NYSE:GKOS) by 186.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 13,726 shares of the medical instruments supplier’s stock after buying an additional 8,942 shares during the quarter. BNP Paribas Financial Markets’ holdings in Glaukos were worth $1,788,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Cetera Advisors LLC bought a new stake in shares of Glaukos in the 1st quarter worth $213,000. LVW Advisors LLC acquired a new position in Glaukos during the second quarter worth about $213,000. Sequoia Financial Advisors LLC bought a new stake in Glaukos in the second quarter worth about $229,000. Assenagon Asset Management S.A. acquired a new stake in Glaukos in the 2nd quarter valued at about $6,832,000. Finally, Raymond James & Associates boosted its position in shares of Glaukos by 23.2% during the 2nd quarter. Raymond James & Associates now owns 13,017 shares of the medical instruments supplier’s stock valued at $1,541,000 after purchasing an additional 2,452 shares in the last quarter. 99.04% of the stock is currently owned by institutional investors and hedge funds.

Glaukos Stock Up 3.4 %

Glaukos stock opened at $140.28 on Friday. The firm’s 50 day moving average price is $135.17 and its two-hundred day moving average price is $125.84. The firm has a market cap of $7.73 billion, a PE ratio of -46.45 and a beta of 1.03. Glaukos Co. has a twelve month low of $59.58 and a twelve month high of $146.86. 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 (NYSE:GKOS) last announced its quarterly earnings data on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate 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 period last year, the company earned ($0.50) earnings per share. Glaukos’s quarterly revenue was up 23.9% compared to the same quarter last year. On average, research analysts predict that Glaukos Co. will post -1.89 EPS for the current fiscal year.

Insider Activity at Glaukos

In related 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 value of $316,156.75. Following the completion of the sale, the chief operating officer now directly owns 102,169 shares in the company, valued at approximately $14,198,425.93. This represents a 2.18 % 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 Gilbert H. Kliman sold 3,000 shares of the firm’s 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 transaction, the director now owns 32,336 shares in the company, valued at approximately $4,225,345.12. This trade 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 currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently commented on GKOS. Wells Fargo & Company boosted their target price on shares of Glaukos from $135.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Morgan Stanley downgraded Glaukos from an “equal weight” rating to an “underweight” rating and set a $120.00 price objective for the company. in a research report on Monday, December 2nd. JPMorgan Chase & Co. lifted their target price on Glaukos from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. StockNews.com raised Glaukos from a “sell” rating to a “hold” rating in a report on Monday, October 21st. Finally, Piper Sandler set a $140.00 price target on Glaukos in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $140.00.

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.