Connor Clark & Lunn Investment Management Ltd. Decreases Stock Holdings in Glaukos Co. (NYSE:GKOS)

Connor Clark & Lunn Investment Management Ltd. reduced its stake in Glaukos Co. (NYSE:GKOS - Free Report) by 47.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,913 shares of the medical instruments supplier's stock after selling 42,798 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.09% of Glaukos worth $6,112,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of GKOS. Values First Advisors Inc. purchased a new position in shares of Glaukos during the third quarter worth approximately $25,000. GAMMA Investing LLC raised its stake in shares of Glaukos by 68.8% during the second quarter. GAMMA Investing LLC now owns 1,192 shares of the medical instruments supplier's stock worth $141,000 after acquiring an additional 486 shares in the last quarter. Fifth Third Wealth Advisors LLC purchased a new position in shares of Glaukos during the second quarter worth approximately $187,000. KBC Group NV raised its stake in shares of Glaukos by 16.2% during the third 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 purchased a new position in shares of Glaukos in the second quarter worth $208,000. 99.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GKOS has been the topic of several analyst reports. BTIG Research lifted their target price on shares of Glaukos from $131.00 to $139.00 and gave the stock a "buy" rating in a research note on Wednesday, August 28th. Piper Sandler set a $140.00 target price on shares of Glaukos in a research note on Thursday, October 17th. JPMorgan Chase & Co. lifted their price target on shares of Glaukos from $130.00 to $145.00 and gave the company an "overweight" rating in a report on Tuesday, November 5th. Wells Fargo & Company raised their target price on shares of Glaukos from $135.00 to $145.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 5th. Finally, Truist Financial boosted their price target on shares of Glaukos from $145.00 to $152.00 and gave the company a "buy" rating in a research report on Monday, October 14th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $134.55.

Insider Activity at Glaukos

In related news, Director Gilbert H. Kliman sold 3,000 shares of the business's 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 completion of the transaction, the chief operating officer now directly owns 102,169 shares in the company, valued at approximately $14,198,425.93. This represents a 2.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.40% of the stock is currently owned by corporate insiders.

Glaukos Stock Performance

Shares of NYSE GKOS opened at $144.00 on Friday. The firm's 50-day moving average price is $132.05 and its 200-day moving average price is $123.31. The company has a quick ratio of 4.71, a current ratio of 5.54 and a debt-to-equity ratio of 0.19. Glaukos Co. has a 52-week low of $59.22 and a 52-week high of $146.09.

Glaukos (NYSE:GKOS - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $96.70 million for 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 last year, the firm posted ($0.50) earnings per share. As a group, equities analysts predict that Glaukos Co. will post -1.96 earnings per share for the current year.

Glaukos 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.