Geode Capital Management LLC Acquires 66,134 Shares of Glaukos Co. (NYSE:GKOS)

Geode Capital Management LLC lifted its stake in Glaukos Co. (NYSE:GKOS) by 6.0% during the third quarter, HoldingsChannel.com reports. The firm owned 1,172,016 shares of the medical instruments supplier’s stock after purchasing an additional 66,134 shares during the quarter. Geode Capital Management LLC’s holdings in Glaukos were worth $152,722,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Values First Advisors Inc. bought a new position in shares of Glaukos in the third quarter worth approximately $25,000. Harvest Fund Management Co. Ltd raised its holdings in Glaukos by 2,263.2% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 898 shares of the medical instruments supplier’s stock worth $117,000 after acquiring an additional 860 shares during the last quarter. Fifth Third Wealth Advisors LLC bought a new position in Glaukos in the 2nd quarter valued at approximately $187,000. KBC Group NV boosted its stake in Glaukos by 16.2% during the 3rd 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 during the last quarter. Finally, Brighton Jones LLC bought a new stake in shares of Glaukos in the 2nd quarter worth $208,000. 99.04% of the stock is owned by institutional investors.

Glaukos Stock Performance

NYSE:GKOS opened at $144.13 on Tuesday. The stock has a 50-day simple moving average of $136.61 and a two-hundred day simple moving average of $127.28. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.71 and a current ratio of 5.54. Glaukos Co. has a 52-week low of $74.75 and a 52-week high of $147.65. The firm has a market capitalization of $7.95 billion, a PE ratio of -47.73 and a beta of 1.03.

Glaukos (NYSE:GKOS) last released its 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 company 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 firm’s revenue was up 23.9% compared to the same quarter last year. During the same quarter last year, the business earned ($0.50) EPS. Analysts forecast that Glaukos Co. will post -1.89 EPS for the current year.

Insider Activity at Glaukos

In related news, COO Joseph E. Gilliam sold 2,275 shares of Glaukos stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $138.97, for a total transaction of $316,156.75. Following the sale, the chief operating officer now owns 102,169 shares of the company’s stock, valued at approximately $14,198,425.93. This trade represents a 2.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gilbert H. Kliman sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $144.01, for a total value of $288,020.00. Following the completion of the transaction, the director now owns 32,336 shares of the company’s stock, valued at $4,656,707.36. The trade was a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on GKOS shares. UBS Group started coverage on Glaukos in a report on Friday, December 6th. They set a “buy” rating and a $182.00 price target on the stock. Truist Financial raised their price target on shares of Glaukos from $145.00 to $152.00 and gave the company a “buy” rating in a report on Monday, October 14th. Stephens raised shares of Glaukos to a “strong-buy” rating in a report on Monday, December 2nd. Wells Fargo & Company raised their target price on shares of Glaukos from $145.00 to $153.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Finally, StockNews.com upgraded shares of Glaukos from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. One analyst has rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $143.17.

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.