Charles Schwab Investment Management Inc. Grows Stock Position in Glaukos Co. (NYSE:GKOS)

Charles Schwab Investment Management Inc. grew its stake in Glaukos Co. (NYSE:GKOS - Free Report) by 47.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 641,761 shares of the medical instruments supplier's stock after acquiring an additional 207,338 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.16% of Glaukos worth $83,609,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in GKOS. Values First Advisors Inc. bought a new position in shares of Glaukos during the 3rd quarter worth approximately $25,000. GAMMA Investing LLC lifted its holdings in shares of Glaukos by 68.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,192 shares of the medical instruments supplier's stock valued at $141,000 after purchasing an additional 486 shares during the last quarter. KBC Group NV boosted its position 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 worth $188,000 after purchasing an additional 201 shares in the last quarter. Fifth Third Wealth Advisors LLC acquired a new stake in shares of Glaukos in the 2nd quarter worth $187,000. Finally, Procyon Advisors LLC purchased a new position in Glaukos during the 3rd quarter worth $210,000. 99.04% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, COO Joseph E. Gilliam sold 2,275 shares of Glaukos stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $138.97, for a total value of $316,156.75. Following the sale, the chief operating officer now owns 102,169 shares of the company's stock, valued at approximately $14,198,425.93. This trade represents a 2.18 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gilbert H. Kliman sold 3,000 shares of the business's stock in a transaction on Monday, September 9th. The stock was sold at an average price of $130.67, for a total transaction of $392,010.00. Following the completion of the sale, the director now directly owns 32,336 shares of the company's stock, valued at approximately $4,225,345.12. The trade was a 8.49 % decrease in their position. The disclosure for this sale can be found here. 6.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on GKOS. Truist Financial raised their price target on Glaukos from $145.00 to $152.00 and gave the stock a "buy" rating in a report on Monday, October 14th. JPMorgan Chase & Co. lifted their target price on shares of Glaukos from $130.00 to $145.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 5th. BTIG Research upped their price target on shares of Glaukos from $140.00 to $149.00 and gave the company a "buy" rating in a research note on Tuesday. Piper Sandler set a $140.00 price objective on shares of Glaukos in a research note on Thursday, October 17th. Finally, Stifel Nicolaus upped their target price on Glaukos from $130.00 to $145.00 and gave the company a "buy" rating in a research report on Tuesday, September 3rd. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $135.45.

Glaukos Stock Performance

Shares of GKOS stock traded up $1.96 on Thursday, hitting $142.69. The company had a trading volume of 348,991 shares, compared to its average volume of 571,878. Glaukos Co. has a twelve month low of $59.58 and a twelve month high of $146.86. 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 firm has a market cap of $7.87 billion, a P/E ratio of -47.25 and a beta of 1.02. The company has a 50-day moving average price of $133.56 and a 200-day moving average price of $124.39.

Glaukos (NYSE:GKOS - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.48) by $0.20. The company 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%. Glaukos's revenue for the quarter was up 23.9% on a year-over-year basis. During the same period in the previous year, the company posted ($0.50) earnings per share. As a group, equities research analysts predict that Glaukos Co. will post -1.96 earnings per share for the current fiscal 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.