Oak Ridge Investments LLC Acquires Shares of 11,150 Glaukos Co. (NYSE:GKOS)

Oak Ridge Investments LLC acquired a new stake in shares of Glaukos Co. (NYSE:GKOS) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 11,150 shares of the medical instruments supplier’s stock, valued at approximately $1,672,000.

A number of other institutional investors have also recently made changes to their positions in GKOS. WCM Investment Management LLC boosted its holdings 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 purchasing an additional 31,084 shares during the last quarter. BNP Paribas Financial Markets boosted its stake 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 buying an additional 8,942 shares during the last quarter. First Turn Management LLC bought a new stake in shares of Glaukos in the third quarter worth $12,520,000. Victory Capital Management Inc. increased its position in Glaukos by 421.8% during the third quarter. Victory Capital Management Inc. now owns 79,211 shares of the medical instruments supplier’s stock valued at $10,320,000 after acquiring an additional 64,031 shares during the last quarter. Finally, Harbor Capital Advisors Inc. bought a new position in Glaukos in the fourth quarter valued at about $3,679,000. Hedge funds and other institutional investors own 99.04% of the company’s stock.

Glaukos Price Performance

Shares of GKOS opened at $156.60 on Friday. The company has a quick ratio of 4.71, a current ratio of 5.54 and a debt-to-equity ratio of 0.19. Glaukos Co. has a 1 year low of $83.90 and a 1 year high of $161.13. The company has a 50 day simple moving average of $145.94 and a two-hundred day simple moving average of $133.49.

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

Insider Buying and Selling

In other news, COO Joseph E. Gilliam sold 3,328 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $149.85, for a total value of $498,700.80. Following the completion of the sale, the chief operating officer now directly owns 102,169 shares of the company’s stock, valued at $15,310,024.65. This trade represents a 3.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gilbert H. Kliman sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $150.28, for a total value of $1,502,800.00. Following the transaction, the director now directly owns 32,336 shares in the company, valued at approximately $4,859,454.08. This represents a 23.62 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,603 shares of company stock worth $2,605,678. Corporate insiders own 6.40% of the company’s stock.

Analyst Upgrades and Downgrades

GKOS has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their price target on Glaukos from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Citigroup upgraded shares of Glaukos from a “neutral” rating to a “buy” rating and increased their price target for the stock from $132.00 to $162.00 in a research report on Wednesday, December 11th. UBS Group initiated coverage on Glaukos in a research note on Friday, December 6th. They issued a “buy” rating and a $182.00 price objective for the company. Morgan Stanley cut Glaukos from an “equal weight” rating to an “underweight” rating and set a $120.00 target price on the stock. in a report on Monday, December 2nd. Finally, Stephens raised Glaukos to a “strong-buy” rating in a report on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Glaukos currently has an average rating of “Moderate Buy” and an average target price of $147.75.

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.