GAMMA Investing LLC Takes $55,000 Position in Glaukos Co. (NYSE:GKOS)

GAMMA Investing LLC bought a new position in shares of Glaukos Co. (NYSE:GKOS) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 697 shares of the medical instruments supplier’s stock, valued at approximately $55,000.

Several other hedge funds have also recently bought and sold shares of GKOS. Allspring Global Investments Holdings LLC lifted its holdings in shares of Glaukos by 17.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,827 shares of the medical instruments supplier’s stock valued at $137,000 after purchasing an additional 270 shares in the last quarter. Mackenzie Financial Corp acquired a new position in Glaukos during the third quarter worth $203,000. Xponance Inc. bought a new position in Glaukos in the third quarter valued at $208,000. Pathstone Family Office LLC bought a new position in Glaukos in the third quarter valued at $217,000. Finally, International Assets Investment Management LLC bought a new stake in Glaukos during the 4th quarter worth about $259,000. 99.04% of the stock is currently owned by institutional investors and hedge funds.

Glaukos Price Performance

Shares of NYSE GKOS opened at $98.84 on Thursday. The business’s 50 day moving average is $92.71 and its 200-day moving average is $82.43. The firm has a market cap of $4.96 billion, a P/E ratio of -35.55 and a beta of 1.08. Glaukos Co. has a 1-year low of $45.38 and a 1-year high of $103.66. The company has a current ratio of 5.34, a quick ratio of 4.78 and a debt-to-equity ratio of 0.77.

Glaukos (NYSE:GKOS) last posted its earnings results on Wednesday, February 21st. The medical instruments supplier reported ($0.63) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.07). Glaukos had a negative return on equity of 22.67% and a negative net margin of 42.79%. The firm had revenue of $82.40 million for the quarter, compared to analyst estimates of $81.00 million. During the same period in the prior year, the business posted ($0.53) EPS. The firm’s quarterly revenue was up 15.7% compared to the same quarter last year. Equities research analysts predict that Glaukos Co. will post -2.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Truist Financial restated a “buy” rating and issued a $110.00 price objective on shares of Glaukos in a report on Monday, April 8th. Stifel Nicolaus reaffirmed a “buy” rating and set a $110.00 price target on shares of Glaukos in a research report on Wednesday, April 3rd. Citigroup increased their price objective on Glaukos from $107.00 to $120.00 and gave the company a “buy” rating in a report on Monday, March 25th. Needham & Company LLC boosted their target price on shares of Glaukos from $105.00 to $108.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Finally, StockNews.com downgraded shares of Glaukos from a “hold” rating to a “sell” rating in a research report on Tuesday, February 27th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $99.80.

Insider Buying and Selling at Glaukos

In other news, COO Joseph E. Gilliam sold 140,245 shares of Glaukos stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $92.14, for a total value of $12,922,174.30. Following the completion of the sale, the chief operating officer now directly owns 98,388 shares in the company, valued at $9,065,470.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CFO Alex R. Thurman sold 1,372 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $100.54, for a total transaction of $137,940.88. Following the completion of the sale, the chief financial officer now owns 52,532 shares of the company’s stock, valued at $5,281,567.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Joseph E. Gilliam sold 140,245 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $92.14, for a total transaction of $12,922,174.30. Following the completion of the transaction, the chief operating officer now directly owns 98,388 shares in the company, valued at $9,065,470.32. The disclosure for this sale can be found here. Insiders sold 232,881 shares of company stock valued at $21,965,491 in the last quarter. Company insiders own 6.40% of the company’s stock.

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.