Glaukos Co. (NYSE:GKOS) is Brown Capital Management LLC’s 4th Largest Position

Brown Capital Management LLC cut its position in shares of Glaukos Co. (NYSE:GKOS) by 13.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,634,591 shares of the medical instruments supplier’s stock after selling 263,365 shares during the quarter. Glaukos makes up about 4.6% of Brown Capital Management LLC’s investment portfolio, making the stock its 4th largest position. Brown Capital Management LLC owned 2.96% of Glaukos worth $212,955,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. EFG Asset Management North America Corp. grew its stake in shares of Glaukos by 0.5% during the second quarter. EFG Asset Management North America Corp. now owns 27,205 shares of the medical instruments supplier’s stock valued at $3,216,000 after buying an additional 128 shares during the last quarter. Values First Advisors Inc. bought a new position in Glaukos during the 3rd quarter worth approximately $25,000. New York State Teachers Retirement System grew its position in Glaukos by 0.4% during the 3rd quarter. New York State Teachers Retirement System now owns 48,143 shares of the medical instruments supplier’s stock worth $6,272,000 after acquiring an additional 200 shares during the last quarter. KBC Group NV increased its stake in Glaukos by 16.2% in the 3rd quarter. KBC Group NV now owns 1,445 shares of the medical instruments supplier’s stock worth $188,000 after purchasing an additional 201 shares during the period. Finally, Inspire Investing LLC lifted its position in Glaukos by 6.9% in the third quarter. Inspire Investing LLC now owns 3,193 shares of the medical instruments supplier’s stock valued at $416,000 after purchasing an additional 206 shares during the last quarter. 99.04% of the stock is owned by hedge funds and other institutional investors.

Glaukos Stock Down 1.9 %

NYSE:GKOS opened at $141.44 on Thursday. 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 firm’s 50-day moving average price is $131.75 and its 200-day moving average price is $123.18. The company has a market capitalization of $7.80 billion, a PE ratio of -46.83 and a beta of 1.02. Glaukos Co. has a 1-year low of $59.22 and a 1-year high of $145.84.

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

Insider Buying and Selling

In related news, COO Joseph E. Gilliam sold 2,275 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $138.97, for a total transaction of $316,156.75. Following the sale, the chief operating officer now directly owns 102,169 shares of the company’s stock, valued at approximately $14,198,425.93. This represents a 2.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gilbert H. Kliman sold 3,000 shares of Glaukos 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 completion of the transaction, the director now directly owns 32,336 shares of the company’s stock, valued at $4,225,345.12. This trade represents a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

GKOS has been the topic of several analyst reports. BTIG Research lifted their target price on shares of Glaukos from $131.00 to $139.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Wells Fargo & Company raised their price target on shares of Glaukos from $135.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. StockNews.com raised shares of Glaukos from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. Truist Financial raised their target price on Glaukos from $145.00 to $152.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Finally, Piper Sandler set a $140.00 price target on Glaukos in a research report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Glaukos currently has a consensus rating of “Moderate Buy” and a consensus target price of $134.55.

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.