Oppenheimer Asset Management Inc. Sells 3,974 Shares of Glaukos Co. (NYSE:GKOS)

Oppenheimer Asset Management Inc. decreased its stake in shares of Glaukos Co. (NYSE:GKOS) by 21.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,680 shares of the medical instruments supplier’s stock after selling 3,974 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Glaukos were worth $1,913,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Glaukos by 1.4% during the first quarter. Vanguard Group Inc. now owns 5,308,897 shares of the medical instruments supplier’s stock valued at $500,576,000 after buying an additional 72,159 shares during the last quarter. Fred Alger Management LLC boosted its holdings 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 acquiring an additional 47,308 shares during the last quarter. Primecap Management Co. CA grew its stake in shares of Glaukos by 43.9% in the second quarter. Primecap Management Co. CA now owns 1,220,815 shares of the medical instruments supplier’s stock worth $144,483,000 after acquiring an additional 372,180 shares during the period. Driehaus Capital Management LLC raised its holdings in shares of Glaukos by 24.0% during the second quarter. Driehaus Capital Management LLC now owns 803,650 shares of the medical instruments supplier’s stock valued at $95,112,000 after purchasing an additional 155,653 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new position in Glaukos during the second quarter valued at approximately $67,460,000. 99.04% of the stock is owned by institutional investors.

Insider Activity

In other Glaukos news, Director Gilbert H. Kliman sold 3,000 shares of Glaukos 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. The trade was a 8.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Joseph E. Gilliam sold 5,000 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $129.36, for a total transaction of $646,800.00. Following the completion of the transaction, the chief operating officer now directly owns 102,169 shares of the company’s stock, valued at approximately $13,216,581.84. This trade represents a 4.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,275 shares of company stock worth $1,354,967 over the last quarter. Insiders own 6.40% of the company’s stock.

Glaukos Stock Down 0.1 %

Shares of GKOS stock opened at $138.44 on Friday. The company has a market capitalization of $7.63 billion, a price-to-earnings ratio of -45.84 and a beta of 1.02. The company has a debt-to-equity ratio of 0.19, a current ratio of 5.54 and a quick ratio of 4.71. The company’s fifty day moving average price is $130.92 and its 200-day moving average price is $122.40. Glaukos Co. has a one year low of $59.22 and a one year high of $145.84.

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

Wall Street Analysts Forecast Growth

Several analysts recently commented on GKOS shares. JPMorgan Chase & Co. lifted their price objective on Glaukos from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. StockNews.com upgraded Glaukos from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. Needham & Company LLC increased their price objective on shares of Glaukos from $131.00 to $137.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Piper Sandler set a $140.00 price objective on shares of Glaukos in a report on Thursday, October 17th. Finally, BTIG Research upped their target price on shares of Glaukos from $131.00 to $139.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $134.55.

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.