The Manufacturers Life Insurance Company Boosts Stock Holdings in Glaukos Co. (NYSE:GKOS)

The Manufacturers Life Insurance Company grew its holdings in Glaukos Co. (NYSE:GKOS) by 2.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,343 shares of the medical instruments supplier’s stock after purchasing an additional 632 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.05% of Glaukos worth $3,693,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Fred Alger Management LLC boosted its stake in Glaukos by 3.8% during the second quarter. Fred Alger Management LLC now owns 1,278,723 shares of the medical instruments supplier’s stock valued at $151,337,000 after buying an additional 47,308 shares during the period. Primecap Management Co. CA boosted its position in shares of Glaukos by 2.0% during the 3rd quarter. Primecap Management Co. CA now owns 1,245,185 shares of the medical instruments supplier’s stock valued at $162,223,000 after acquiring an additional 24,370 shares during the last quarter. Driehaus Capital Management LLC grew its holdings in shares of Glaukos by 24.0% during the second quarter. Driehaus Capital Management LLC now owns 803,650 shares of the medical instruments supplier’s stock worth $95,112,000 after purchasing an additional 155,653 shares in the last quarter. Loomis Sayles & Co. L P grew its holdings in shares of Glaukos by 21.6% during the third quarter. Loomis Sayles & Co. L P now owns 673,751 shares of the medical instruments supplier’s stock worth $87,776,000 after purchasing an additional 119,527 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Glaukos by 47.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 641,761 shares of the medical instruments supplier’s stock worth $83,609,000 after purchasing an additional 207,338 shares during the last quarter. 99.04% of the stock is currently owned by hedge funds and other institutional investors.

Glaukos Trading Up 3.4 %

GKOS stock opened at $140.28 on Friday. Glaukos Co. has a 12 month low of $59.58 and a 12 month high of $146.86. The firm’s 50-day moving average is $135.17 and its 200 day moving average is $125.84. The company has a market capitalization of $7.73 billion, a PE ratio of -46.45 and a beta of 1.03. The company has a debt-to-equity ratio of 0.19, a current ratio of 5.54 and a quick ratio of 4.71.

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

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GKOS. UBS Group initiated coverage on shares of Glaukos in a research report on Friday. They issued a “buy” rating and a $182.00 target price for the company. BTIG Research boosted their target price on Glaukos from $140.00 to $149.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Truist Financial increased their price target on shares of Glaukos from $145.00 to $152.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Piper Sandler set a $140.00 price objective on shares of Glaukos in a report on Thursday, October 17th. Finally, Wells Fargo & Company increased their target price on shares of Glaukos from $135.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, three have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Glaukos has an average rating of “Moderate Buy” and an average target price of $140.00.

Insider Buying and Selling at Glaukos

In other news, COO Joseph E. Gilliam sold 2,275 shares of the stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $138.97, for a total value of $316,156.75. Following the transaction, the chief operating officer now directly owns 102,169 shares of the company’s stock, valued at approximately $14,198,425.93. This represents a 2.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gilbert H. Kliman sold 3,000 shares of Glaukos 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 sale, the director now owns 32,336 shares of the company’s stock, valued at approximately $4,225,345.12. The trade was a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.40% of the stock is currently owned by company insiders.

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.