LMR Partners LLP Grows Position in Glaukos Co. (NYSE:GKOS)

LMR Partners LLP lifted its stake in Glaukos Co. (NYSE:GKOS) by 12.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 36,986 shares of the medical instruments supplier’s stock after buying an additional 4,059 shares during the quarter. LMR Partners LLP’s holdings in Glaukos were worth $4,819,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Values First Advisors Inc. purchased a new position in shares of Glaukos in the third quarter worth $25,000. GAMMA Investing LLC raised 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 purchasing an additional 486 shares in the last quarter. KBC Group NV raised its stake in Glaukos by 16.2% during the third quarter. KBC Group NV now owns 1,445 shares of the medical instruments supplier’s stock valued at $188,000 after purchasing an additional 201 shares in the last quarter. Fifth Third Wealth Advisors LLC purchased a new stake in Glaukos during the second quarter valued at $187,000. Finally, Procyon Advisors LLC purchased a new stake in Glaukos during the third quarter valued at $210,000. Hedge funds and other institutional investors own 99.04% of the company’s stock.

Insiders Place Their Bets

In other Glaukos news, COO Joseph E. Gilliam sold 5,000 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $129.36, for a total transaction of $646,800.00. Following the transaction, the chief operating officer now directly owns 102,169 shares in the company, valued at $13,216,581.84. This represents a 4.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gilbert H. Kliman sold 3,000 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $130.67, for a total transaction of $392,010.00. Following the transaction, the director now owns 32,336 shares in the company, valued at approximately $4,225,345.12. The trade was a 8.49 % 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 in the last three months. Corporate insiders own 6.40% of the company’s stock.

Wall Street Analyst Weigh In

GKOS has been the topic of a number of recent research reports. Truist Financial upped their price target on shares of Glaukos from $145.00 to $152.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Piper Sandler set a $140.00 price target on shares of Glaukos in a research note on Thursday, October 17th. Needham & Company LLC boosted their price objective on shares of Glaukos from $131.00 to $137.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. StockNews.com upgraded shares of Glaukos from a “sell” rating to a “hold” rating in a research report on Monday, October 21st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Glaukos from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Glaukos has a consensus rating of “Moderate Buy” and a consensus target price of $134.55.

Glaukos Trading Down 1.2 %

NYSE GKOS opened at $136.79 on Tuesday. The company’s 50-day moving average price is $130.92 and its 200-day moving average price is $122.57. The company has a current ratio of 5.54, a quick ratio of 4.71 and a debt-to-equity ratio of 0.19. The stock has a market cap of $7.54 billion, a PE ratio of -45.29 and a beta of 1.02. Glaukos Co. has a 12 month low of $59.22 and a 12 month high of $145.84.

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