CIBC Asset Management Inc Makes New Investment in Glaukos Co. (NYSE:GKOS)

CIBC Asset Management Inc purchased a new position in Glaukos Co. (NYSE:GKOS) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,514 shares of the medical instruments supplier’s stock, valued at approximately $227,000.

A number of other hedge funds have also recently added to or reduced their stakes in GKOS. Asset Planning Inc acquired a new position in shares of Glaukos in the 4th quarter valued at about $90,000. Harvest Fund Management Co. Ltd lifted its stake in shares of Glaukos by 2,263.2% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 898 shares of the medical instruments supplier’s stock valued at $117,000 after purchasing an additional 860 shares in the last quarter. KBC Group NV lifted its stake in shares of Glaukos by 16.2% in the 3rd quarter. KBC Group NV now owns 1,445 shares of the medical instruments supplier’s stock valued at $188,000 after purchasing an additional 201 shares in the last quarter. EWA LLC acquired a new position in shares of Glaukos in the 3rd quarter valued at about $209,000. Finally, Congress Asset Management Co. acquired a new position in shares of Glaukos in the 4th quarter valued at about $219,000. 99.04% of the stock is owned by institutional investors and hedge funds.

Glaukos Trading Down 2.6 %

Shares of GKOS stock opened at $121.02 on Wednesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.71 and a current ratio of 5.54. Glaukos Co. has a 1 year low of $83.90 and a 1 year high of $163.71. The stock has a fifty day moving average of $151.85 and a two-hundred day moving average of $139.59. The firm has a market capitalization of $6.67 billion, a PE ratio of -42.17 and a beta of 1.04.

Glaukos (NYSE:GKOS) last announced its quarterly earnings data on Thursday, February 20th. The medical instruments supplier reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.02). The firm had revenue of $105.50 million during the quarter, compared to analyst estimates of $100.72 million. Glaukos had a negative net margin of 39.04% and a negative return on equity of 16.53%. As a group, research analysts expect that Glaukos Co. will post -1.08 EPS for the current year.

Insider Activity

In related news, COO Joseph E. Gilliam sold 3,328 shares of the company’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $149.85, for a total transaction of $498,700.80. Following the transaction, the chief operating officer now directly owns 102,169 shares of the company’s stock, valued at approximately $15,310,024.65. The trade was a 3.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gilbert H. Kliman sold 2,000 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $144.01, for a total value of $288,020.00. Following the completion of the transaction, the director now directly owns 32,336 shares in the company, valued at approximately $4,656,707.36. The trade was a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,744 shares of company stock worth $2,792,151 over the last 90 days. 6.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently commented on the company. JPMorgan Chase & Co. boosted their price target on Glaukos from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Morgan Stanley lowered Glaukos from an “equal weight” rating to an “underweight” rating and set a $120.00 price target on the stock. in a research report on Monday, December 2nd. Wells Fargo & Company lifted their price objective on Glaukos from $153.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Stephens upgraded Glaukos to a “strong-buy” rating in a report on Monday, December 2nd. Finally, Truist Financial lifted their price objective on Glaukos from $152.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $163.25.

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.