Creative Planning Boosts Stock Holdings in Glaukos Co. (NYSE:GKOS)

Creative Planning increased its position in shares of Glaukos Co. (NYSE:GKOS) by 126.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,706 shares of the medical instruments supplier’s stock after purchasing an additional 4,309 shares during the period. Creative Planning’s holdings in Glaukos were worth $912,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in Glaukos by 68.8% during the second quarter. GAMMA Investing LLC now owns 1,192 shares of the medical instruments supplier’s stock worth $141,000 after purchasing an additional 486 shares in the last quarter. Caldwell Sutter Capital Inc. grew 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 worth $140,000 after buying an additional 1,465 shares during the period. Fifth Third Wealth Advisors LLC acquired a new position in Glaukos during the second quarter worth about $187,000. Brighton Jones LLC acquired a new position in Glaukos during the second quarter worth about $208,000. Finally, Mount Yale Investment Advisors LLC acquired a new position in Glaukos during the second quarter worth about $212,000. 99.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Truist Financial restated a “buy” rating and set a $145.00 target price (up from $141.00) on shares of Glaukos in a research report on Thursday, August 1st. Stifel Nicolaus upped 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. BTIG Research upped their target price on shares of Glaukos from $131.00 to $139.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Piper Sandler increased their price target on shares of Glaukos from $110.00 to $140.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Finally, Needham & Company LLC increased their price target on shares of Glaukos from $131.00 to $137.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Glaukos presently has an average rating of “Moderate Buy” and an average price target of $129.82.

Insiders Place Their Bets

In other Glaukos news, Director Gilbert H. Kliman sold 3,000 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $130.67, for a total transaction of $392,010.00. Following the transaction, the director now owns 32,336 shares of the company’s stock, valued at $4,225,345.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Gilbert H. Kliman sold 3,000 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $130.67, for a total value of $392,010.00. Following the transaction, the director now owns 32,336 shares of the company’s stock, valued at approximately $4,225,345.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Marc Stapley sold 6,250 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $125.93, for a total transaction of $787,062.50. Following the completion of the transaction, the director now directly owns 34,076 shares in the company, valued at approximately $4,291,190.68. 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 valued at $4,825,873 over the last quarter. Company insiders own 6.40% of the company’s stock.

Glaukos Stock Down 1.0 %

Shares of NYSE GKOS opened at $126.90 on Friday. Glaukos Co. has a 1 year low of $59.22 and a 1 year high of $136.60. The firm’s 50 day moving average price is $127.11 and its 200 day moving average price is $115.64. The firm has a market cap of $6.97 billion, a P/E ratio of -38.93 and a beta of 1.02. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.67 and a current ratio of 5.48.

Glaukos (NYSE:GKOS) last announced its earnings results on Wednesday, July 31st. The medical instruments supplier reported ($0.52) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.52). The firm had revenue of $95.70 million for the quarter, compared to analyst estimates of $88.86 million. Glaukos had a negative net margin of 47.39% and a negative return on equity of 22.51%. Glaukos’s revenue was up 19.0% compared to the same quarter last year. During the same quarter last year, the business earned ($0.55) earnings per share. As a group, sell-side analysts anticipate that Glaukos Co. will post -2.18 earnings per share for the current 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.