Farringdon Capital Ltd. Makes New $244,000 Investment in Glaukos Co. (NYSE:GKOS)

Farringdon Capital Ltd. acquired a new stake in Glaukos Co. (NYSE:GKOS) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,627 shares of the medical instruments supplier’s stock, valued at approximately $244,000.

A number of other hedge funds have also modified their holdings of the business. William Blair Investment Management LLC acquired a new stake in Glaukos during the 4th quarter worth approximately $121,390,000. Alliancebernstein L.P. raised its position in Glaukos by 1,235.4% during the 4th quarter. Alliancebernstein L.P. now owns 816,153 shares of the medical instruments supplier’s stock worth $122,374,000 after buying an additional 755,035 shares during the last quarter. Norges Bank purchased a new stake in shares of Glaukos in the fourth quarter valued at about $84,490,000. Raymond James Financial Inc. acquired a new position in shares of Glaukos during the fourth quarter worth about $16,910,000. Finally, Vanguard Group Inc. raised its holdings in Glaukos by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 5,974,971 shares of the medical instruments supplier’s stock worth $895,887,000 after purchasing an additional 101,838 shares in the last quarter. 99.04% of the stock is currently owned by hedge funds and other institutional investors.

Glaukos Stock Up 1.5 %

Shares of NYSE:GKOS opened at $90.15 on Friday. The company has a market capitalization of $5.10 billion, a P/E ratio of -31.41 and a beta of 0.88. The stock’s fifty day simple moving average is $108.10 and its 200-day simple moving average is $131.38. Glaukos Co. has a 52-week low of $77.91 and a 52-week high of $163.71. 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 (NYSE:GKOS) last released its quarterly earnings results on Thursday, February 20th. The medical instruments supplier reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.02). The firm had revenue of $105.50 million for the quarter, compared to analyst estimates of $100.72 million. Glaukos had a negative return on equity of 16.53% and a negative net margin of 39.04%. As a group, equities research analysts forecast that Glaukos Co. will post -1.08 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Piper Sandler cut their target price on Glaukos from $180.00 to $165.00 and set an “overweight” rating for the company in a research note on Tuesday, April 15th. Needham & Company LLC boosted their target price on shares of Glaukos from $149.00 to $176.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Wells Fargo & Company upped their price target on shares of Glaukos from $153.00 to $160.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Mizuho lowered their target price on shares of Glaukos from $200.00 to $175.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, Truist Financial reduced their price target on shares of Glaukos from $185.00 to $140.00 and set a “buy” rating for the company in a research report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $156.17.

Insider Buying and Selling at Glaukos

In related news, insider Tomas Navratil sold 3,416 shares of the company’s stock in a transaction on Friday, February 14th. The stock was 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 directly owns 72,437 shares in the company, 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 document filed with the SEC, which can be accessed through the SEC website. Also, CFO Alex R. Thurman sold 1,520 shares of the firm’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $106.84, for a total value of $162,396.80. Following the completion of the sale, the chief financial officer now directly owns 53,431 shares in the company, valued at approximately $5,708,568.04. The trade was 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 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.