Harbor Capital Advisors Inc. Lowers Position in Glaukos Corporation $GKOS

Harbor Capital Advisors Inc. trimmed its position in shares of Glaukos Corporation (NYSE:GKOS) by 70.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,621 shares of the medical instruments supplier’s stock after selling 27,684 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Glaukos were worth $948,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Park Place Capital Corp boosted its holdings in Glaukos by 68.4% in the 2nd quarter. Park Place Capital Corp now owns 399 shares of the medical instruments supplier’s stock valued at $41,000 after purchasing an additional 162 shares in the last quarter. AlphaQuest LLC raised its stake in shares of Glaukos by 5,754.5% during the 2nd quarter. AlphaQuest LLC now owns 644 shares of the medical instruments supplier’s stock worth $67,000 after buying an additional 633 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Glaukos by 16.2% in the 2nd quarter. Smartleaf Asset Management LLC now owns 973 shares of the medical instruments supplier’s stock valued at $99,000 after buying an additional 136 shares during the period. Parkside Financial Bank & Trust boosted its stake in shares of Glaukos by 909.7% in the second quarter. Parkside Financial Bank & Trust now owns 1,252 shares of the medical instruments supplier’s stock valued at $129,000 after buying an additional 1,128 shares in the last quarter. Finally, Bayforest Capital Ltd purchased a new stake in shares of Glaukos in the first quarter valued at approximately $141,000. Institutional investors and hedge funds own 99.04% of the company’s stock.

Glaukos Price Performance

Glaukos stock opened at $116.31 on Friday. Glaukos Corporation has a 52 week low of $73.16 and a 52 week high of $163.71. The company has a quick ratio of 4.47, a current ratio of 5.20 and a debt-to-equity ratio of 0.09. The firm’s 50-day simple moving average is $97.68 and its 200 day simple moving average is $94.23. The firm has a market capitalization of $6.68 billion, a PE ratio of -75.53 and a beta of 0.69.

Glaukos (NYSE:GKOS) last posted its earnings results on Wednesday, October 29th. The medical instruments supplier reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.11. The firm had revenue of $133.54 million during the quarter, compared to the consensus estimate of $122.55 million. Glaukos had a negative net margin of 18.65% and a negative return on equity of 7.52%. The firm’s revenue for the quarter was up 38.1% on a year-over-year basis. During the same period last year, the firm posted ($0.28) EPS. On average, equities research analysts predict that Glaukos Corporation will post -1.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GKOS. Weiss Ratings reiterated a “sell (d-)” rating on shares of Glaukos in a research report on Wednesday, October 8th. UBS Group increased their price target on shares of Glaukos from $140.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday. Needham & Company LLC raised their price objective on shares of Glaukos from $117.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, December 9th. JPMorgan Chase & Co. boosted their price objective on shares of Glaukos from $110.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Finally, Stifel Nicolaus set a $115.00 target price on shares of Glaukos in a research report on Monday, October 27th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $114.92.

Insider Transactions at Glaukos

In other news, Director Gilbert H. Kliman sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $107.27, for a total transaction of $536,350.00. Following the completion of the transaction, the director directly owned 34,905 shares of the company’s stock, valued at $3,744,259.35. This trade represents a 12.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Alex R. Thurman sold 315 shares of Glaukos stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $105.00, for a total value of $33,075.00. Following the transaction, the chief financial officer owned 50,488 shares of the company’s stock, valued at $5,301,240. This represents a 0.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 24,655 shares of company stock valued at $2,310,025 in the last ninety days. Corporate insiders own 5.80% of the company’s stock.

Glaukos Profile

Glaukos Corporation is a medical technology company specializing in the development, manufacturing and commercialization of innovative therapies for patients with glaucoma and other chronic eye diseases. The company’s core offerings focus on micro-invasive glaucoma surgery (MIGS), designed to reduce intraocular pressure and manage glaucoma more safely and effectively than traditional surgical approaches. Glaukos’s flagship products include the iStent, iStent inject and iStent infinite trabecular micro-bypass stents, which are implanted during cataract surgery to improve aqueous outflow and help control eye pressure.

Beyond its MIGS portfolio, Glaukos has expanded into sustained drug-delivery solutions.