PNC Financial Services Group Inc. Lowers Stock Position in Glaukos Co. (NYSE:GKOS)

PNC Financial Services Group Inc. trimmed its holdings in shares of Glaukos Co. (NYSE:GKOS) by 4.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,211 shares of the medical instruments supplier’s stock after selling 201 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Glaukos were worth $335,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of GKOS. Dimensional Fund Advisors LP raised its stake in shares of Glaukos by 3.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 923,526 shares of the medical instruments supplier’s stock worth $73,412,000 after acquiring an additional 31,213 shares in the last quarter. Jump Financial LLC lifted its holdings in shares of Glaukos by 513.3% during the 4th quarter. Jump Financial LLC now owns 47,589 shares of the medical instruments supplier’s stock valued at $3,783,000 after purchasing an additional 39,829 shares during the last quarter. Norges Bank acquired a new stake in shares of Glaukos in the 4th quarter worth $28,807,000. Nomura Holdings Inc. grew its stake in Glaukos by 3.2% during the 4th quarter. Nomura Holdings Inc. now owns 232,034 shares of the medical instruments supplier’s stock worth $18,444,000 after buying an additional 7,146 shares during the last quarter. Finally, Jennison Associates LLC acquired a new position in Glaukos during the 4th quarter valued at about $608,000. Institutional investors own 99.04% of the company’s stock.

Insider Transactions at Glaukos

In related news, COO Joseph E. Gilliam sold 2,500 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $113.50, for a total value of $283,750.00. Following the completion of the transaction, the chief operating officer now owns 101,845 shares of the company’s stock, valued at approximately $11,559,407.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Alex R. Thurman sold 434 shares of Glaukos stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $95.33, for a total value of $41,373.22. Following the sale, the chief financial officer now owns 54,166 shares in the company, valued at $5,163,644.78. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Joseph E. Gilliam sold 2,500 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $113.50, for a total transaction of $283,750.00. Following the transaction, the chief operating officer now owns 101,845 shares of the company’s stock, valued at approximately $11,559,407.50. The disclosure for this sale can be found here. Insiders have sold a total of 81,475 shares of company stock valued at $8,387,713 in the last ninety days. 6.40% of the stock is currently owned by corporate insiders.

Glaukos Stock Up 0.8 %

Shares of GKOS stock opened at $118.35 on Friday. Glaukos Co. has a twelve month low of $59.22 and a twelve month high of $119.89. The stock has a market cap of $5.96 billion, a P/E ratio of -41.09 and a beta of 1.09. The stock has a 50 day moving average of $109.22 and a 200 day moving average of $96.10. The company has a current ratio of 5.38, a quick ratio of 4.68 and a debt-to-equity ratio of 0.78.

Glaukos (NYSE:GKOS) last posted its earnings results on Wednesday, May 1st. The medical instruments supplier reported ($0.70) earnings per share for the quarter, missing the consensus estimate of ($0.58) by ($0.12). Glaukos had a negative net margin of 43.15% and a negative return on equity of 24.69%. The firm had revenue of $85.60 million for the quarter, compared to analysts’ expectations of $79.60 million. During the same period last year, the firm earned ($0.59) earnings per share. Glaukos’s revenue for the quarter was up 15.8% compared to the same quarter last year. As a group, sell-side analysts expect that Glaukos Co. will post -2.24 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on GKOS. Truist Financial reissued a “buy” rating and issued a $125.00 price target (up previously from $120.00) on shares of Glaukos in a report on Thursday, May 2nd. Citigroup upped their price target on shares of Glaukos from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. JPMorgan Chase & Co. lifted their price objective on shares of Glaukos from $108.00 to $110.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Stifel Nicolaus upped their target price on Glaukos from $110.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, June 5th. Finally, Jefferies Financial Group upgraded Glaukos from a “hold” rating to a “buy” rating and raised their target price for the stock from $84.00 to $125.00 in a research note on Monday, May 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $112.27.

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.