First Turn Management LLC Takes Position in Glaukos Co. (NYSE:GKOS)

First Turn Management LLC acquired a new stake in Glaukos Co. (NYSE:GKOS - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 96,097 shares of the medical instruments supplier's stock, valued at approximately $12,520,000. First Turn Management LLC owned 0.17% of Glaukos as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Glaukos by 1.4% in the first quarter. Vanguard Group Inc. now owns 5,308,897 shares of the medical instruments supplier's stock valued at $500,576,000 after purchasing an additional 72,159 shares during the last quarter. Fred Alger Management LLC lifted its holdings in shares of Glaukos by 3.8% during the second quarter. Fred Alger Management LLC now owns 1,278,723 shares of the medical instruments supplier's stock worth $151,337,000 after buying an additional 47,308 shares in the last quarter. Primecap Management Co. CA boosted its position in shares of Glaukos by 43.9% in the second quarter. Primecap Management Co. CA now owns 1,220,815 shares of the medical instruments supplier's stock valued at $144,483,000 after acquiring an additional 372,180 shares during the period. Driehaus Capital Management LLC grew its stake in shares of Glaukos by 24.0% in the second quarter. Driehaus Capital Management LLC now owns 803,650 shares of the medical instruments supplier's stock valued at $95,112,000 after acquiring an additional 155,653 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new position in Glaukos during the second quarter worth about $67,460,000. 99.04% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, COO Joseph E. Gilliam sold 2,275 shares of the company'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 sale, the chief operating officer now directly owns 102,169 shares in the company, valued at $14,198,425.93. This represents a 2.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Gilbert H. Kliman sold 3,000 shares of the firm'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 transaction of $392,010.00. Following the transaction, the director now 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. Over the last three months, insiders have sold 10,275 shares of company stock valued at $1,354,967. 6.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on GKOS. JPMorgan Chase & Co. boosted their price objective on shares of Glaukos from $130.00 to $145.00 and gave the company an "overweight" rating in a report on Tuesday, November 5th. Stifel Nicolaus increased their price target on Glaukos from $130.00 to $145.00 and gave the stock a "buy" rating in a research report on Tuesday, September 3rd. Needham & Company LLC raised their price objective on Glaukos from $131.00 to $137.00 and gave the stock a "buy" rating in a research note on Thursday, August 1st. Truist Financial upped their target price on Glaukos from $145.00 to $152.00 and gave the company a "buy" rating in a research report on Monday, October 14th. Finally, Piper Sandler set a $140.00 price target on Glaukos in a research report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $134.55.

Glaukos Price Performance

Glaukos stock traded up $7.12 during midday trading on Tuesday, reaching $144.10. The company's stock had a trading volume of 419,951 shares, compared to its average volume of 574,872. The stock has a market cap of $7.95 billion, a PE ratio of -47.72 and a beta of 1.02. 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 52 week low of $59.22 and a 52 week high of $145.84. The business has a 50-day moving average price of $131.43 and a 200-day moving average price of $123.05.

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. Glaukos had a negative net margin of 42.43% and a negative return on equity of 18.99%. The business had revenue of $96.70 million during the quarter, compared to the consensus estimate of $91.50 million. During the same quarter in the prior year, the firm earned ($0.50) EPS. The firm's revenue was up 23.9% compared to the same quarter last year. On average, sell-side analysts predict that Glaukos Co. will post -1.96 EPS for the current year.

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.