Glaukos Co. (NYSE:GKOS) Stock Position Cut by Fred Alger Management LLC

Fred Alger Management LLC trimmed its stake in shares of Glaukos Co. (NYSE:GKOS) by 15.8% during the third quarter, Holdings Channel reports. The institutional investor owned 1,076,974 shares of the medical instruments supplier’s stock after selling 201,749 shares during the period. Fred Alger Management LLC’s holdings in Glaukos were worth $140,308,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Values First Advisors Inc. bought a new position in Glaukos during the 3rd quarter valued at $25,000. Harvest Fund Management Co. Ltd lifted its holdings in shares of Glaukos by 2,263.2% in the third quarter. Harvest Fund Management Co. Ltd now owns 898 shares of the medical instruments supplier’s stock valued at $117,000 after buying an additional 860 shares during the period. GAMMA Investing LLC boosted its stake in Glaukos by 68.8% during the second quarter. GAMMA Investing LLC now owns 1,192 shares of the medical instruments supplier’s stock valued at $141,000 after buying an additional 486 shares in the last quarter. Fifth Third Wealth Advisors LLC acquired a new position in Glaukos during the second quarter worth about $187,000. Finally, KBC Group NV raised its position in Glaukos by 16.2% in the third 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 in the last quarter. 99.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on GKOS shares. Piper Sandler set a $140.00 target price on shares of Glaukos in a research note on Thursday, October 17th. BTIG Research boosted their price target on shares of Glaukos from $140.00 to $149.00 and gave the company a “buy” rating in a report on Tuesday. Wells Fargo & Company increased their price objective on Glaukos from $135.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Stifel Nicolaus upped their target price on Glaukos from $130.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Finally, Needham & Company LLC lifted their target price on shares of Glaukos from $131.00 to $137.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Glaukos currently has a consensus rating of “Moderate Buy” and a consensus target price of $135.45.

Insider Activity

In other Glaukos news, Director Gilbert H. Kliman sold 3,000 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 32,336 shares of the company’s stock, valued at $4,225,345.12. This trade represents a 8.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Joseph E. Gilliam sold 2,275 shares of Glaukos stock in a transaction that occurred 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 transaction, 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 disclosure for this sale can be found here. Insiders own 6.40% of the company’s stock.

Glaukos Trading Up 1.4 %

Shares of NYSE:GKOS opened at $142.69 on Friday. Glaukos Co. has a 1 year low of $59.58 and a 1 year high of $146.86. The firm has a fifty day moving average price of $133.81 and a 200 day moving average price of $124.52. The stock has a market capitalization of $7.87 billion, a PE ratio of -47.25 and a beta of 1.02. The company has a current ratio of 5.54, a quick ratio of 4.71 and a debt-to-equity ratio of 0.19.

Glaukos (NYSE:GKOS) last issued its quarterly earnings data on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.20. The business had revenue of $96.70 million for the quarter, compared to the consensus estimate of $91.50 million. Glaukos had a negative return on equity of 18.99% and a negative net margin of 42.43%. The firm’s revenue was up 23.9% compared to the same quarter last year. During the same period last year, the business earned ($0.50) EPS. Analysts expect that Glaukos Co. will post -1.91 EPS for the current fiscal year.

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.