Jennison Associates LLC Makes New $792,000 Investment in Glaukos Co. (NYSE:GKOS)

Jennison Associates LLC purchased a new stake in Glaukos Co. (NYSE:GKOS - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 6,080 shares of the medical instruments supplier's stock, valued at approximately $792,000.

Several other institutional investors and hedge funds also recently made changes to their positions in GKOS. Values First Advisors Inc. acquired a new stake in shares of Glaukos in the 3rd quarter valued at about $25,000. GAMMA Investing LLC lifted its stake in Glaukos by 68.8% in the 2nd quarter. GAMMA Investing LLC now owns 1,192 shares of the medical instruments supplier's stock valued at $141,000 after acquiring an additional 486 shares in the last quarter. Fifth Third Wealth Advisors LLC acquired a new position in Glaukos during the 2nd quarter worth approximately $187,000. KBC Group NV grew its stake in shares of Glaukos by 16.2% during the 3rd quarter. KBC Group NV now owns 1,445 shares of the medical instruments supplier's stock worth $188,000 after acquiring an additional 201 shares in the last quarter. Finally, Brighton Jones LLC bought a new position in shares of Glaukos during the 2nd quarter worth approximately $208,000. Institutional investors and hedge funds own 99.04% of the company's stock.

Wall Street Analyst Weigh In

GKOS has been the subject of several recent research reports. Truist Financial increased their target price on shares of Glaukos from $145.00 to $152.00 and gave the stock a "buy" rating in a report on Monday, October 14th. JPMorgan Chase & Co. increased their price target on Glaukos from $130.00 to $145.00 and gave the company an "overweight" rating in a research report on Tuesday, November 5th. Piper Sandler set a $140.00 price target on Glaukos in a research note on Thursday, October 17th. StockNews.com upgraded Glaukos from a "sell" rating to a "hold" rating in a research note on Monday, October 21st. Finally, Stifel Nicolaus raised their target price on shares of Glaukos from $130.00 to $145.00 and gave the company a "buy" rating in a research note on Tuesday, September 3rd. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $134.55.

Insider Transactions at Glaukos

In other Glaukos news, COO Joseph E. Gilliam sold 2,275 shares of the business's stock in a transaction that occurred on 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. The trade was a 2.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gilbert H. Kliman sold 3,000 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was 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 in the company, valued at $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 owned by company insiders.

Glaukos Price Performance

Shares of Glaukos stock traded up $3.17 during trading on Friday, reaching $144.00. 549,002 shares of the company's stock were exchanged, compared to its average volume of 593,848. The firm's 50-day moving average price is $132.40 and its 200 day moving average price is $123.80. The company has a market cap of $7.94 billion, a P/E ratio of -47.68 and a beta of 1.02. 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 $59.22 and a 1-year high of $146.09.

Glaukos (NYSE:GKOS - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The medical instruments supplier reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.48) by $0.20. The business had revenue of $96.70 million during 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 firm's revenue was up 23.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.50) EPS. As a group, research analysts anticipate that Glaukos Co. will post -1.96 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.