Louisiana State Employees Retirement System Invests $1.94 Million in Glaukos Co. (NYSE:GKOS)

Louisiana State Employees Retirement System purchased a new position in Glaukos Co. (NYSE:GKOS) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 24,400 shares of the medical instruments supplier’s stock, valued at approximately $1,940,000. Louisiana State Employees Retirement System owned 0.05% of Glaukos as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Glaukos by 0.4% during the third quarter. Vanguard Group Inc. now owns 5,380,720 shares of the medical instruments supplier’s stock valued at $286,470,000 after buying an additional 23,473 shares during the period. Braidwell LP grew its position in Glaukos by 8.7% during the first quarter. Braidwell LP now owns 1,806,651 shares of the medical instruments supplier’s stock valued at $90,513,000 after buying an additional 144,800 shares during the period. State Street Corp grew its position in Glaukos by 1.8% during the second quarter. State Street Corp now owns 1,782,347 shares of the medical instruments supplier’s stock valued at $126,921,000 after buying an additional 31,471 shares during the period. Fred Alger Management LLC grew its position in Glaukos by 9.2% during the third quarter. Fred Alger Management LLC now owns 1,780,690 shares of the medical instruments supplier’s stock valued at $133,997,000 after buying an additional 150,102 shares during the period. Finally, Invesco Ltd. grew its position in Glaukos by 45.5% during the third quarter. Invesco Ltd. now owns 1,450,033 shares of the medical instruments supplier’s stock valued at $109,115,000 after buying an additional 453,756 shares during the period. 99.04% of the stock is currently owned by institutional investors.

Glaukos Price Performance

GKOS stock opened at $95.15 on Friday. Glaukos Co. has a one year low of $45.38 and a one year high of $102.33. The company’s fifty day moving average price is $91.88 and its 200-day moving average price is $80.55. The company has a debt-to-equity ratio of 0.77, a quick ratio of 4.78 and a current ratio of 5.34. The company has a market capitalization of $4.71 billion, a PE ratio of -34.23 and a beta of 1.08.

Glaukos (NYSE:GKOS) last released its earnings results on Wednesday, February 21st. The medical instruments supplier reported ($0.63) EPS for the quarter, missing the consensus estimate of ($0.56) by ($0.07). Glaukos had a negative return on equity of 22.67% and a negative net margin of 42.79%. The company had revenue of $82.40 million during the quarter, compared to analysts’ expectations of $81.00 million. During the same period last year, the firm posted ($0.53) EPS. Glaukos’s quarterly revenue was up 15.7% compared to the same quarter last year. On average, equities analysts anticipate that Glaukos Co. will post -2.18 EPS for the current fiscal year.

Insider Transactions at Glaukos

In related news, CFO Alex R. Thurman sold 1,372 shares of the company’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $100.54, for a total transaction of $137,940.88. Following the sale, the chief financial officer now owns 52,532 shares of the company’s stock, valued at $5,281,567.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, COO Joseph E. Gilliam sold 524 shares of the company’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $94.01, for a total transaction of $49,261.24. Following the sale, the chief operating officer now owns 119,802 shares of the company’s stock, valued at $11,262,586.02. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Alex R. Thurman sold 1,372 shares of the company’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $100.54, for a total transaction of $137,940.88. Following the sale, the chief financial officer now directly owns 52,532 shares in the company, valued at approximately $5,281,567.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 242,881 shares of company stock valued at $22,906,633. 7.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

GKOS has been the subject of several recent research reports. Needham & Company LLC boosted their target price on shares of Glaukos from $105.00 to $108.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Mizuho boosted their target price on shares of Glaukos from $85.00 to $100.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Piper Sandler lifted their price target on shares of Glaukos from $90.00 to $105.00 and gave the company an “overweight” rating in a report on Friday, December 22nd. Citigroup lifted their price target on shares of Glaukos from $107.00 to $120.00 and gave the company a “buy” rating in a report on Monday, March 25th. Finally, Truist Financial reaffirmed a “buy” rating and set a $110.00 price target on shares of Glaukos in a report on Monday, April 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Glaukos presently has an average rating of “Moderate Buy” and a consensus target price of $99.80.

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.