Zweig DiMenna Associates LLC Purchases New Position in Glaukos Co. (NYSE:GKOS)

Zweig DiMenna Associates LLC bought a new stake in Glaukos Co. (NYSE:GKOS) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 58,665 shares of the medical instruments supplier’s stock, valued at approximately $8,796,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. WCM Investment Management LLC increased its stake in Glaukos by 45.7% in the 3rd quarter. WCM Investment Management LLC now owns 99,155 shares of the medical instruments supplier’s stock worth $12,721,000 after buying an additional 31,084 shares in the last quarter. BNP Paribas Financial Markets raised its stake in Glaukos by 186.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 13,726 shares of the medical instruments supplier’s stock valued at $1,788,000 after purchasing an additional 8,942 shares during the period. First Turn Management LLC purchased a new position in Glaukos in the 3rd quarter worth approximately $12,520,000. Victory Capital Management Inc. raised its position in shares of Glaukos by 421.8% during the third quarter. Victory Capital Management Inc. now owns 79,211 shares of the medical instruments supplier’s stock valued at $10,320,000 after buying an additional 64,031 shares during the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new stake in shares of Glaukos in the fourth quarter worth about $3,679,000. 99.04% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GKOS has been the subject of a number of research reports. StockNews.com upgraded Glaukos from a “sell” rating to a “hold” rating in a research report on Monday, October 21st. UBS Group began coverage on shares of Glaukos in a research report on Friday, December 6th. They set a “buy” rating and a $182.00 target price on the stock. Truist Financial boosted their price objective on Glaukos from $152.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. JPMorgan Chase & Co. lifted their target price on Glaukos from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, Stifel Nicolaus increased their price target on Glaukos from $153.00 to $175.00 and gave the company a “buy” rating in a report on Tuesday, December 31st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Glaukos currently has a consensus rating of “Moderate Buy” and an average target price of $147.75.

Glaukos Stock Down 0.9 %

Shares of NYSE:GKOS opened at $159.74 on Friday. The company has a quick ratio of 4.71, a current ratio of 5.54 and a debt-to-equity ratio of 0.19. Glaukos Co. has a 52-week low of $83.90 and a 52-week high of $163.71. The business’s 50 day moving average is $146.86 and its 200 day moving average is $134.31. The stock has a market cap of $8.81 billion, a P/E ratio of -52.93 and a beta of 1.04.

Glaukos (NYSE:GKOS) last posted its quarterly earnings data on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.48) by $0.20. The firm had revenue of $96.70 million for the quarter, compared to the consensus estimate of $91.50 million. Glaukos had a negative net margin of 42.43% and a negative return on equity of 18.99%. The company’s revenue for the quarter 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 predict that Glaukos Co. will post -1.89 EPS for the current year.

Insiders Place Their Bets

In other news, Director Gilbert H. Kliman sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $144.01, for a total transaction of $288,020.00. Following the sale, the director now owns 32,336 shares of the company’s stock, valued at $4,656,707.36. This trade represents a 5.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Joseph E. Gilliam sold 3,328 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $149.85, for a total transaction of $498,700.80. Following the completion of the transaction, the chief operating officer now owns 102,169 shares of the company’s stock, valued at approximately $15,310,024.65. This represents a 3.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,603 shares of company stock valued at $2,605,678. 6.40% of the stock is owned by company insiders.

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.