Stifel Financial Corp Boosts Stock Position in Glaukos Co. (NYSE:GKOS)

Stifel Financial Corp increased its holdings in shares of Glaukos Co. (NYSE:GKOS) by 37.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,230 shares of the medical instruments supplier’s stock after buying an additional 1,157 shares during the period. Stifel Financial Corp’s holdings in Glaukos were worth $551,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Raymond James & Associates grew its position in shares of Glaukos by 23.2% in the second quarter. Raymond James & Associates now owns 13,017 shares of the medical instruments supplier’s stock valued at $1,541,000 after purchasing an additional 2,452 shares during the period. Bank of New York Mellon Corp lifted its stake in Glaukos by 6.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 413,680 shares of the medical instruments supplier’s stock valued at $48,959,000 after buying an additional 26,510 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Glaukos by 11.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,725 shares of the medical instruments supplier’s stock worth $1,269,000 after buying an additional 1,104 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in Glaukos by 20.7% during the 2nd quarter. Commonwealth Equity Services LLC now owns 5,620 shares of the medical instruments supplier’s stock worth $665,000 after buying an additional 963 shares in the last quarter. Finally, Natixis Advisors LLC raised its holdings in shares of Glaukos by 12.5% during the second quarter. Natixis Advisors LLC now owns 37,297 shares of the medical instruments supplier’s stock valued at $4,414,000 after acquiring an additional 4,158 shares during the last quarter. Institutional investors and hedge funds own 99.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Wells Fargo & Company lifted their price target on Glaukos from $145.00 to $153.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Piper Sandler set a $140.00 target price on shares of Glaukos in a research note on Thursday, October 17th. Stifel Nicolaus increased their target price on shares of Glaukos from $145.00 to $153.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. UBS Group assumed coverage on shares of Glaukos in a research note on Friday, December 6th. They issued a “buy” rating and a $182.00 price target on the stock. Finally, StockNews.com raised shares of Glaukos from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Glaukos has a consensus rating of “Moderate Buy” and an average price target of $145.92.

Insider Buying and Selling

In other Glaukos news, COO Joseph E. Gilliam sold 3,328 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $149.85, for a total transaction of $498,700.80. Following the sale, the chief operating officer now directly owns 102,169 shares in the company, valued at $15,310,024.65. This represents a 3.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gilbert H. Kliman sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $144.01, for a total transaction of $288,020.00. Following the completion of the transaction, the director now directly owns 32,336 shares of the company’s stock, valued at approximately $4,656,707.36. The trade was a 5.82 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,603 shares of company stock valued at $2,605,678. Company insiders own 6.40% of the company’s stock.

Glaukos Price Performance

GKOS stock opened at $152.67 on Friday. Glaukos Co. has a 52-week low of $74.75 and a 52-week high of $153.50. The company has a quick ratio of 4.71, a current ratio of 5.54 and a debt-to-equity ratio of 0.19. The stock has a market cap of $8.42 billion, a price-to-earnings ratio of -50.55 and a beta of 1.03. The business has a fifty day moving average of $139.35 and a two-hundred day moving average of $128.88.

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

Glaukos 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.