Bank of New York Mellon Corp Increases Holdings in Glaukos Co. (NYSE:GKOS)

Bank of New York Mellon Corp raised its stake in shares of Glaukos Co. (NYSE:GKOS) by 3.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 397,842 shares of the medical instruments supplier’s stock after buying an additional 12,376 shares during the period. Bank of New York Mellon Corp owned about 0.72% of Glaukos worth $59,652,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in GKOS. New York State Teachers Retirement System raised its stake in Glaukos by 0.4% during the 3rd quarter. New York State Teachers Retirement System now owns 48,143 shares of the medical instruments supplier’s stock valued at $6,272,000 after buying an additional 200 shares during the last quarter. Amalgamated Bank grew its position in shares of Glaukos by 4.5% during the 3rd quarter. Amalgamated Bank now owns 15,926 shares of the medical instruments supplier’s stock valued at $2,075,000 after acquiring an additional 679 shares during the period. Crossmark Global Holdings Inc. increased its stake in shares of Glaukos by 15.8% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 4,051 shares of the medical instruments supplier’s stock worth $527,000 after purchasing an additional 554 shares in the last quarter. Versor Investments LP bought a new position in Glaukos in the 3rd quarter worth $457,000. Finally, WCM Investment Management LLC lifted its position in Glaukos by 45.7% during the third quarter. WCM Investment Management LLC now owns 99,155 shares of the medical instruments supplier’s stock valued at $12,721,000 after purchasing an additional 31,084 shares in the last quarter. 99.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have commented on the company. Morgan Stanley cut Glaukos from an “equal weight” rating to an “underweight” rating and set a $120.00 price target for the company. in a research report on Monday, December 2nd. Stifel Nicolaus lifted their price objective on Glaukos from $153.00 to $175.00 and gave the company a “buy” rating in a research report on Tuesday, December 31st. Needham & Company LLC lifted their price objective on Glaukos from $149.00 to $176.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Citigroup raised Glaukos from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $132.00 to $162.00 in a research report on Wednesday, December 11th. Finally, UBS Group assumed coverage on Glaukos in a research report on Friday, December 6th. They set a “buy” rating and a $182.00 price objective on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $163.25.

Glaukos Stock Up 2.6 %

NYSE GKOS opened at $111.97 on Wednesday. The stock’s 50 day moving average is $149.44 and its 200 day moving average is $139.44. The company has a current ratio of 5.54, a quick ratio of 4.71 and a debt-to-equity ratio of 0.19. Glaukos Co. has a 12 month low of $83.90 and a 12 month high of $163.71. The stock has a market cap of $6.33 billion, a PE ratio of -39.01 and a beta of 1.04.

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

Insider Transactions at Glaukos

In other news, COO Joseph E. Gilliam sold 3,328 shares of the company’s stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 102,169 shares of the company’s stock, valued at $15,310,024.65. This represents a 3.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gilbert H. Kliman sold 2,000 shares of the business’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 value of $288,020.00. Following the transaction, the director now directly owns 32,336 shares in the company, valued at approximately $4,656,707.36. This represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,744 shares of company stock valued at $2,792,151 in the last ninety days. Corporate insiders own 6.40% of the company’s stock.

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.