The Manufacturers Life Insurance Company Raises Stock Position in Glaukos Co. (NYSE:GKOS)

The Manufacturers Life Insurance Company raised its position in Glaukos Co. (NYSE:GKOS) by 7.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,711 shares of the medical instruments supplier’s stock after purchasing an additional 1,926 shares during the period. The Manufacturers Life Insurance Company owned 0.06% of Glaukos worth $3,280,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Caldwell Sutter Capital Inc. lifted its position in Glaukos by 5,860.0% during the first quarter. Caldwell Sutter Capital Inc. now owns 1,490 shares of the medical instruments supplier’s stock valued at $140,000 after purchasing an additional 1,465 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Glaukos by 68.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,192 shares of the medical instruments supplier’s stock valued at $141,000 after purchasing an additional 486 shares during the last quarter. Fifth Third Wealth Advisors LLC purchased a new stake in Glaukos during the second quarter valued at about $187,000. Brighton Jones LLC purchased a new position in Glaukos in the 2nd quarter worth approximately $208,000. Finally, Mount Yale Investment Advisors LLC purchased a new position in shares of Glaukos in the second quarter valued at about $212,000. 99.04% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Glaukos news, Director Aimee S. Weisner sold 25,000 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $120.00, for a total transaction of $3,000,000.00. Following the completion of the sale, the director now directly owns 30,119 shares in the company, valued at approximately $3,614,280. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Glaukos news, Director Aimee S. Weisner sold 25,000 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $120.00, for a total transaction of $3,000,000.00. Following the sale, the director now directly owns 30,119 shares in the company, valued at approximately $3,614,280. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gilbert H. Kliman sold 3,000 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $130.67, for a total value of $392,010.00. Following the completion of the transaction, the director now owns 32,336 shares of the company’s stock, valued at $4,225,345.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 39,250 shares of company stock worth $4,825,873 in the last quarter. Corporate insiders own 6.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GKOS. Piper Sandler boosted their target price on Glaukos from $110.00 to $140.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Truist Financial reissued a “buy” rating and set a $145.00 price objective (up from $141.00) on shares of Glaukos in a research report on Thursday, August 1st. Stifel Nicolaus raised their target price on shares of Glaukos from $130.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. StockNews.com cut shares of Glaukos from a “hold” rating to a “sell” rating in a research report on Friday, August 30th. Finally, BTIG Research raised their price objective on shares of Glaukos from $131.00 to $139.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $129.82.

Glaukos Price Performance

GKOS stock opened at $129.17 on Wednesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.67 and a current ratio of 5.48. The firm has a 50 day moving average price of $126.44 and a 200-day moving average price of $115.18. Glaukos Co. has a 52-week low of $59.22 and a 52-week high of $136.60. The firm has a market capitalization of $6.51 billion, a price-to-earnings ratio of -44.85 and a beta of 1.02.

Glaukos (NYSE:GKOS) last posted its quarterly earnings data on Wednesday, July 31st. The medical instruments supplier reported ($0.52) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.52). Glaukos had a negative return on equity of 22.51% and a negative net margin of 47.39%. The company had revenue of $95.70 million during the quarter, compared to analyst estimates of $88.86 million. During the same quarter last year, the company earned ($0.55) EPS. The firm’s revenue for the quarter was up 19.0% on a year-over-year basis. Equities research analysts forecast that Glaukos Co. will post -2.18 EPS for the current fiscal year.

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.