Duality Advisers LP Takes $3.48 Million Position in Glaukos Co. (NYSE:GKOS)

Duality Advisers LP purchased a new stake in shares of Glaukos Co. (NYSE:GKOS) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 36,869 shares of the medical instruments supplier’s stock, valued at approximately $3,476,000. Duality Advisers LP owned about 0.07% of Glaukos at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. National Bank of Canada FI bought a new stake in Glaukos during the fourth quarter worth approximately $46,000. GAMMA Investing LLC acquired a new position in Glaukos in the fourth quarter worth approximately $55,000. Quadrant Capital Group LLC grew its position in Glaukos by 54.8% in the fourth quarter. Quadrant Capital Group LLC now owns 929 shares of the medical instruments supplier’s stock worth $74,000 after buying an additional 329 shares during the last quarter. Caldwell Sutter Capital Inc. grew its position in Glaukos by 5,860.0% in the first quarter. Caldwell Sutter Capital Inc. now owns 1,490 shares of the medical instruments supplier’s stock worth $140,000 after buying an additional 1,465 shares during the last quarter. Finally, Fisher Asset Management LLC acquired a new position in Glaukos in the fourth quarter worth approximately $216,000. Institutional investors own 99.04% of the company’s stock.

Insider Transactions at Glaukos

In other news, CFO Alex R. Thurman sold 353 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $110.51, for a total transaction of $39,010.03. Following the completion of the sale, the chief financial officer now owns 51,647 shares of the company’s stock, valued at $5,707,509.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Alex R. Thurman sold 353 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $110.51, for a total transaction of $39,010.03. Following the completion of the sale, the chief financial officer now owns 51,647 shares of the company’s stock, valued at $5,707,509.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Alex R. Thurman sold 442 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $105.69, for a total transaction of $46,714.98. Following the completion of the transaction, the chief financial officer now directly owns 52,090 shares of the company’s stock, valued at approximately $5,505,392.10. The disclosure for this sale can be found here. Insiders sold 21,444 shares of company stock valued at $2,411,171 over the last quarter. Corporate insiders own 6.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on GKOS shares. Wells Fargo & Company lifted their price objective on shares of Glaukos from $110.00 to $120.00 and gave the stock an “overweight” rating in a research report on Monday, June 3rd. Truist Financial reissued a “buy” rating and set a $125.00 target price (up previously from $120.00) on shares of Glaukos in a research note on Thursday, May 2nd. Needham & Company LLC lifted their target price on shares of Glaukos from $108.00 to $113.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. StockNews.com raised shares of Glaukos from a “sell” rating to a “hold” rating in a research note on Friday, July 5th. Finally, Stifel Nicolaus lifted their target price on shares of Glaukos from $110.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, June 5th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Glaukos presently has a consensus rating of “Moderate Buy” and a consensus target price of $112.45.

Glaukos Price Performance

Shares of GKOS stock traded down $1.31 during trading hours on Friday, reaching $121.93. 273,874 shares of the company were exchanged, compared to its average volume of 591,020. Glaukos Co. has a fifty-two week low of $59.22 and a fifty-two week high of $125.47. The stock’s fifty day moving average is $112.94 and its two-hundred day moving average is $98.63. The company has a market cap of $6.14 billion, a price-to-earnings ratio of -42.79 and a beta of 1.06. The company has a debt-to-equity ratio of 0.78, a current ratio of 5.38 and a quick ratio of 4.68.

Glaukos (NYSE:GKOS) last announced its quarterly earnings data on Wednesday, May 1st. The medical instruments supplier reported ($0.70) earnings per share for the quarter, missing the consensus estimate of ($0.58) by ($0.12). Glaukos had a negative net margin of 43.15% and a negative return on equity of 24.69%. The business had revenue of $85.60 million during the quarter, compared to analyst estimates of $79.60 million. During the same quarter in the prior year, the company earned ($0.59) earnings per share. The company’s quarterly revenue was up 15.8% on a year-over-year basis. Sell-side analysts forecast that Glaukos Co. will post -2.24 earnings per share for the current fiscal year.

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.