Alliancebernstein L.P. Has $122.37 Million Holdings in Glaukos Co. (NYSE:GKOS)

Alliancebernstein L.P. raised its holdings in Glaukos Co. (NYSE:GKOS) by 1,235.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 816,153 shares of the medical instruments supplier’s stock after buying an additional 755,035 shares during the period. Alliancebernstein L.P. owned about 1.48% of Glaukos worth $122,374,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. BNP Paribas Financial Markets raised its stake in Glaukos by 186.9% in 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 acquiring an additional 8,942 shares during the period. Harbor Capital Advisors Inc. bought a new position in shares of Glaukos in the fourth quarter valued at about $3,679,000. State Street Corp lifted its stake in shares of Glaukos by 5.3% during the 3rd quarter. State Street Corp now owns 1,954,449 shares of the medical instruments supplier’s stock worth $254,626,000 after buying an additional 98,109 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Glaukos during the 3rd quarter worth about $258,000. Finally, Rhumbline Advisers grew its stake in Glaukos by 0.3% in the 4th quarter. Rhumbline Advisers now owns 141,790 shares of the medical instruments supplier’s stock valued at $21,260,000 after buying an additional 403 shares during the last quarter. 99.04% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on GKOS shares. Wells Fargo & Company boosted their price objective on Glaukos from $153.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Mizuho raised Glaukos from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $140.00 to $200.00 in a report on Wednesday, February 19th. Stifel Nicolaus lifted their target price on Glaukos from $153.00 to $175.00 and gave the stock a “buy” rating in a report on Tuesday, December 31st. Truist Financial upped their price target on shares of Glaukos from $152.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $180.00 price objective (up previously from $140.00) on shares of Glaukos in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $163.25.

Insider Activity at Glaukos

In other news, insider Tomas Navratil sold 3,416 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $147.14, for a total value of $502,630.24. Following the completion of the transaction, the insider now owns 72,437 shares of the company’s stock, valued at approximately $10,658,380.18. This represents a 4.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Alex R. Thurman sold 1,520 shares of Glaukos stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $106.84, for a total transaction of $162,396.80. Following the sale, the chief financial officer now directly owns 53,431 shares in the company, valued at $5,708,568.04. This trade represents a 2.77 % 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 insiders.

Glaukos Stock Performance

Shares of Glaukos stock opened at $100.07 on Thursday. 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 company has a market cap of $5.66 billion, a PE ratio of -34.87 and a beta of 0.99. The company has a 50 day moving average of $126.91 and a 200-day moving average of $135.14. Glaukos Co. has a 1-year low of $89.94 and a 1-year high of $163.71.

Glaukos (NYSE:GKOS) last released its earnings results on Thursday, February 20th. The medical instruments supplier reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.02). Glaukos had a negative return on equity of 16.53% and a negative net margin of 39.04%. The business had revenue of $105.50 million for the quarter, compared to the consensus estimate of $100.72 million. As a group, equities research analysts forecast that Glaukos Co. will post -1.08 earnings per share for the current fiscal 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.