Magnetar Financial LLC Makes New $2.34 Million Investment in Glaukos Co. (NYSE:GKOS)

Magnetar Financial LLC purchased a new stake in Glaukos Co. (NYSE:GKOS) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 24,798 shares of the medical instruments supplier’s stock, valued at approximately $2,338,000.

Several other institutional investors and hedge funds have also modified their holdings of GKOS. National Bank of Canada FI acquired a new stake in Glaukos during the fourth quarter worth about $46,000. GAMMA Investing LLC acquired a new stake in Glaukos during the fourth quarter worth about $55,000. Quadrant Capital Group LLC grew its stake in Glaukos by 54.8% during 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 in the last quarter. Caldwell Sutter Capital Inc. grew its stake in Glaukos by 5,860.0% during 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 in the last quarter. Finally, Oppenheimer & Co. Inc. acquired a new stake in shares of Glaukos in the 1st quarter valued at approximately $217,000. 99.04% of the stock is currently owned by institutional investors and hedge funds.

Glaukos Price Performance

Glaukos stock traded up $2.17 during mid-day trading on Friday, hitting $119.82. 617,615 shares of the company traded hands, compared to its average volume of 570,732. Glaukos Co. has a one year low of $59.22 and a one year high of $126.96. The company has a current ratio of 5.38, a quick ratio of 4.68 and a debt-to-equity ratio of 0.78. The stock has a fifty day moving average price of $115.88 and a 200-day moving average price of $101.88.

Glaukos (NYSE:GKOS) last announced its earnings results on Wednesday, May 1st. The medical instruments supplier reported ($0.70) earnings per share (EPS) 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 company had revenue of $85.60 million for the quarter, compared to the consensus estimate of $79.60 million. During the same quarter in the previous year, the firm earned ($0.59) earnings per share. The company’s revenue for the quarter was up 15.8% compared to the same quarter last year. Analysts forecast that Glaukos Co. will post -2.25 EPS for the current year.

Insider Buying and Selling

In other Glaukos news, COO Joseph E. Gilliam sold 2,059 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $105.52, for a total transaction of $217,265.68. Following the transaction, the chief operating officer now directly owns 101,845 shares of the company’s stock, valued at approximately $10,746,684.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, COO Joseph E. Gilliam sold 2,059 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $105.52, for a total value of $217,265.68. Following the sale, the chief operating officer now directly owns 101,845 shares of the company’s stock, valued at approximately $10,746,684.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Alex R. Thurman sold 442 shares of the company’s stock in a transaction dated Thursday, May 2nd. The stock was 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 owns 52,090 shares in the company, valued at approximately $5,505,392.10. The disclosure for this sale can be found here. Insiders have sold a total of 21,444 shares of company stock valued at $2,411,171 over the last three months. 6.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GKOS. Wells Fargo & Company raised their price target on shares of Glaukos from $110.00 to $120.00 and gave the company an “overweight” rating in a research note on Monday, June 3rd. JPMorgan Chase & Co. increased their target price on shares of Glaukos from $108.00 to $110.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Mizuho raised their price objective on shares of Glaukos from $85.00 to $100.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Needham & Company LLC raised their price objective 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. Finally, Morgan Stanley raised their price objective on shares of Glaukos from $100.00 to $120.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $120.64.

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.