KLP Kapitalforvaltning AS Acquires New Position in Glaukos Co. (NYSE:GKOS)

KLP Kapitalforvaltning AS bought a new position in shares of Glaukos Co. (NYSE:GKOS) in the fourth quarter, Holdings Channel reports. The firm bought 11,400 shares of the medical instruments supplier’s stock, valued at approximately $1,709,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP grew its stake in shares of Glaukos by 294.5% during the third quarter. Wellington Management Group LLP now owns 2,183,766 shares of the medical instruments supplier’s stock worth $284,501,000 after purchasing an additional 1,630,270 shares during the period. William Blair Investment Management LLC acquired a new position in shares of Glaukos during the 4th quarter worth about $121,390,000. Raymond James Financial Inc. bought a new stake in shares of Glaukos in the 4th quarter valued at about $16,910,000. State Street Corp raised its position in shares of Glaukos by 5.3% in the 3rd quarter. State Street Corp now owns 1,954,449 shares of the medical instruments supplier’s stock valued at $254,626,000 after acquiring an additional 98,109 shares during the period. Finally, Barclays PLC boosted its stake in Glaukos by 394.4% during the 3rd quarter. Barclays PLC now owns 89,699 shares of the medical instruments supplier’s stock worth $11,686,000 after acquiring an additional 71,556 shares during the last quarter. Institutional investors own 99.04% of the company’s stock.

Glaukos Price Performance

NYSE GKOS opened at $101.97 on Friday. The firm’s 50 day moving average is $130.52 and its 200-day moving average is $135.64. The company has a quick ratio of 4.71, a current ratio of 5.54 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $5.77 billion, a PE ratio of -35.53 and a beta of 0.99. Glaukos Co. has a 12-month low of $88.16 and a 12-month high of $163.71.

Glaukos (NYSE:GKOS) last issued 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). Glaukos had a negative net margin of 39.04% and a negative return on equity of 16.53%. The business had revenue of $105.50 million during the quarter, compared to analyst estimates of $100.72 million. Equities research analysts anticipate that Glaukos Co. will post -1.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

GKOS has been the subject of several recent analyst reports. Mizuho raised shares of Glaukos from a “neutral” rating to an “outperform” rating and upped their target price for the company from $140.00 to $200.00 in a research note on Wednesday, February 19th. Needham & Company LLC raised their price objective on Glaukos from $149.00 to $176.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Piper Sandler reissued an “overweight” rating and issued a $180.00 target price (up from $140.00) on shares of Glaukos in a research note on Monday, January 27th. Citigroup raised Glaukos from a “neutral” rating to a “buy” rating and raised their price target for the stock from $132.00 to $162.00 in a research report on Wednesday, December 11th. Finally, Wells Fargo & Company boosted their price objective on Glaukos from $153.00 to $160.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Glaukos has a consensus rating of “Moderate Buy” and a consensus price target of $163.25.

Insider Buying and Selling

In other Glaukos news, CFO Alex R. Thurman sold 1,520 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $106.84, for a total transaction of $162,396.80. Following the transaction, the chief financial officer now owns 53,431 shares of the company’s stock, valued at $5,708,568.04. The trade was a 2.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Tomas Navratil sold 3,416 shares of the stock in a transaction that occurred on 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 sale, the insider now directly owns 72,437 shares of the company’s stock, valued at approximately $10,658,380.18. The trade was a 4.50 % decrease in their position. The disclosure for this sale can be found here. 6.40% of the stock is currently owned by corporate insiders.

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.