BNP Paribas Financial Markets Grows Position in Glaukos Co. (NYSE:GKOS)

BNP Paribas Financial Markets lifted its stake in shares of Glaukos Co. (NYSE:GKOS - Free Report) by 186.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 13,726 shares of the medical instruments supplier's stock after buying an additional 8,942 shares during the quarter. BNP Paribas Financial Markets' holdings in Glaukos were worth $1,788,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Cetera Advisors LLC bought a new stake in Glaukos in the first quarter valued at $213,000. LVW Advisors LLC bought a new stake in Glaukos in the 2nd quarter valued at about $213,000. Sequoia Financial Advisors LLC acquired a new position in Glaukos during the 2nd quarter worth approximately $229,000. Assenagon Asset Management S.A. acquired a new position in Glaukos during the 2nd quarter worth approximately $6,832,000. Finally, Raymond James & Associates boosted its holdings in Glaukos by 23.2% in the second quarter. Raymond James & Associates now owns 13,017 shares of the medical instruments supplier's stock worth $1,541,000 after acquiring an additional 2,452 shares in the last quarter. Institutional investors own 99.04% of the company's stock.

Glaukos Stock Performance

GKOS traded up $4.58 during midday trading on Friday, reaching $140.28. The company had a trading volume of 762,199 shares, compared to its average volume of 437,160. The business has a 50-day moving average price of $135.17 and a two-hundred day moving average price of $125.84. 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 12-month low of $59.58 and a 12-month high of $146.86. The stock has a market cap of $7.73 billion, a PE ratio of -46.45 and a beta of 1.03.

Glaukos (NYSE:GKOS - Get Free Report) last released its earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share (EPS) 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 the consensus estimate of $91.50 million. Glaukos had a negative return on equity of 18.99% and a negative net margin of 42.43%. The business's revenue for the quarter was up 23.9% on a year-over-year basis. During the same period last year, the business posted ($0.50) earnings per share. On average, sell-side analysts expect that Glaukos Co. will post -1.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Gilbert H. Kliman sold 3,000 shares of the stock in a transaction dated Monday, September 9th. The stock was 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. This represents a 8.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Joseph E. Gilliam sold 2,275 shares of Glaukos stock in a transaction dated Wednesday, October 30th. The shares were 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 $14,198,425.93. The trade was a 2.18 % decrease in their position. The disclosure for this sale can be found here. 6.40% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have weighed in on GKOS. Truist Financial raised their price objective on shares of Glaukos from $145.00 to $152.00 and gave the company a "buy" rating in a research note on Monday, October 14th. Wells Fargo & Company raised their price target on shares of Glaukos from $135.00 to $145.00 and gave the company an "overweight" rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. boosted their price objective on Glaukos from $130.00 to $145.00 and gave the stock an "overweight" rating in a report on Tuesday, November 5th. Morgan Stanley lowered Glaukos from an "equal weight" rating to an "underweight" rating and set a $120.00 target price on the stock. in a report on Monday, December 2nd. Finally, Stifel Nicolaus upped their price target on Glaukos from $145.00 to $153.00 and gave the stock a "buy" rating in a report on Monday, December 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Glaukos presently has an average rating of "Moderate Buy" and a consensus price target of $140.00.

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.