Inspire Investing LLC Cuts Stock Holdings in Glaukos Co. (NYSE:GKOS)

Inspire Investing LLC lowered its holdings in Glaukos Co. (NYSE:GKOS) by 14.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,719 shares of the medical instruments supplier’s stock after selling 474 shares during the quarter. Inspire Investing LLC’s holdings in Glaukos were worth $408,000 at the end of the most recent reporting period.

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

Glaukos Stock Down 0.4 %

Shares of GKOS stock opened at $160.50 on Friday. 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 fifty-two week low of $83.90 and a fifty-two week high of $163.71. The firm has a market capitalization of $8.85 billion, a PE ratio of -53.15 and a beta of 1.04. The stock’s 50-day simple moving average is $147.76 and its 200-day simple moving average is $134.85.

Glaukos (NYSE:GKOS) last posted its quarterly earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.20. The company had revenue of $96.70 million during the quarter, compared to analyst estimates of $91.50 million. Glaukos had a negative net margin of 42.43% and a negative return on equity of 18.99%. Glaukos’s revenue for the quarter was up 23.9% compared to the same quarter last year. During the same period last year, the firm posted ($0.50) EPS. Equities analysts expect that Glaukos Co. will post -1.89 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Gilbert H. Kliman sold 10,000 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $150.28, for a total value of $1,502,800.00. Following the sale, the director now owns 32,336 shares in the company, valued at $4,859,454.08. This represents a 23.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Joseph E. Gilliam sold 2,275 shares of Glaukos stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $138.97, for a total value of $316,156.75. Following the transaction, the chief operating officer now owns 102,169 shares of the company’s stock, valued at approximately $14,198,425.93. This represents a 2.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,603 shares of company stock valued at $2,605,678 over the last 90 days. Insiders own 6.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GKOS. UBS Group began coverage on shares of Glaukos in a report on Friday, December 6th. They issued a “buy” rating and a $182.00 target price for the company. JPMorgan Chase & Co. increased their target price on shares of Glaukos from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Wells Fargo & Company lifted their price target on shares of Glaukos from $145.00 to $153.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Piper Sandler set a $140.00 price objective on Glaukos in a report on Thursday, October 17th. Finally, BTIG Research boosted their target price on Glaukos from $140.00 to $149.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $147.75.

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.