New York State Common Retirement Fund Trims Stock Position in Glaukos Corporation (NYSE:GKOS)

New York State Common Retirement Fund lessened its stake in shares of Glaukos Corporation (NYSE:GKOS) by 0.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 377,666 shares of the medical instruments supplier’s stock after selling 3,622 shares during the quarter. New York State Common Retirement Fund’s holdings in Glaukos were worth $37,170,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Bessemer Group Inc. lifted its position in shares of Glaukos by 133.9% during the 1st quarter. Bessemer Group Inc. now owns 276 shares of the medical instruments supplier’s stock worth $27,000 after buying an additional 158 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Glaukos during the 4th quarter worth $16,910,000. Harbor Capital Advisors Inc. grew its position in Glaukos by 59.5% during the 1st quarter. Harbor Capital Advisors Inc. now owns 39,132 shares of the medical instruments supplier’s stock worth $3,851,000 after purchasing an additional 14,593 shares during the last quarter. Teacher Retirement System of Texas grew its position in Glaukos by 606.7% during the 4th quarter. Teacher Retirement System of Texas now owns 20,247 shares of the medical instruments supplier’s stock worth $3,036,000 after purchasing an additional 17,382 shares during the last quarter. Finally, SG Americas Securities LLC increased its stake in Glaukos by 35.2% in the first quarter. SG Americas Securities LLC now owns 4,924 shares of the medical instruments supplier’s stock valued at $485,000 after purchasing an additional 1,283 shares during the period. Hedge funds and other institutional investors own 99.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Needham & Company LLC decreased their target price on shares of Glaukos from $176.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Morgan Stanley decreased their price objective on Glaukos from $110.00 to $72.00 and set an “underweight” rating for the company in a research report on Tuesday, May 6th. Truist Financial reissued a “buy” rating and issued a $135.00 target price (down previously from $140.00) on shares of Glaukos in a report on Thursday, May 1st. Stephens decreased their price target on Glaukos from $140.00 to $115.00 and set an “overweight” rating for the company in a report on Friday, May 2nd. Finally, Wells Fargo & Company lowered shares of Glaukos from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $160.00 to $86.00 in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $134.67.

Glaukos Price Performance

Glaukos stock opened at $104.43 on Tuesday. The company has a market cap of $5.97 billion, a P/E ratio of -44.06 and a beta of 0.82. Glaukos Corporation has a one year low of $77.10 and a one year high of $163.71. The business has a fifty day moving average of $97.18 and a two-hundred day moving average of $113.91. The company has a debt-to-equity ratio of 0.09, a quick ratio of 5.62 and a current ratio of 6.49.

Glaukos (NYSE:GKOS) last announced its quarterly earnings results on Wednesday, April 30th. The medical instruments supplier reported ($0.22) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.11. The business had revenue of $106.66 million during the quarter, compared to the consensus estimate of $102.78 million. Glaukos had a negative net margin of 31.40% and a negative return on equity of 10.66%. The business’s revenue was up 24.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.70) EPS. As a group, analysts predict that Glaukos Corporation will post -1.08 earnings per share for the current fiscal year.

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.