Fmr LLC Sells 4,203,431 Shares of Glaukos Co. (NYSE:GKOS)

FMR LLC lowered its stake in Glaukos Co. (NYSE:GKOS - Free Report) by 39.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 6,584,488 shares of the medical instruments supplier's stock after selling 4,203,431 shares during the period. FMR LLC owned 11.94% of Glaukos worth $857,827,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Values First Advisors Inc. bought a new stake in Glaukos in the third quarter valued at about $25,000. Harvest Fund Management Co. Ltd raised its position in shares of Glaukos by 2,263.2% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 898 shares of the medical instruments supplier's stock valued at $117,000 after acquiring an additional 860 shares in the last quarter. GAMMA Investing LLC lifted its stake in 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 purchasing an additional 486 shares during the last quarter. KBC Group NV boosted its holdings in Glaukos by 16.2% in the third 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 during the period. Finally, Fifth Third Wealth Advisors LLC acquired a new position in Glaukos in the second quarter worth $187,000. Institutional investors and hedge funds own 99.04% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on GKOS shares. JPMorgan Chase & Co. raised their price target on shares of Glaukos from $130.00 to $145.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 5th. Truist Financial upped their target price on Glaukos from $145.00 to $152.00 and gave the company a "buy" rating in a report on Monday, October 14th. BTIG Research boosted their price objective on Glaukos from $140.00 to $149.00 and gave the company a "buy" rating in a research report on Tuesday. StockNews.com raised Glaukos from a "sell" rating to a "hold" rating in a research report on Monday, October 21st. Finally, Piper Sandler set a $140.00 price target on shares of Glaukos in a report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $135.45.

Glaukos Price Performance

Shares of GKOS stock traded up $1.96 during midday trading on Thursday, reaching $142.69. 348,991 shares of the company were exchanged, compared to its average volume of 571,878. The company's 50 day moving average price is $133.56 and its two-hundred day moving average price is $124.39. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.71 and a current ratio of 5.54. The company has a market cap of $7.87 billion, a P/E ratio of -47.25 and a beta of 1.02. Glaukos Co. has a 12 month low of $59.58 and a 12 month high of $146.86.

Glaukos (NYSE:GKOS - Get Free Report) last announced its earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.48) by $0.20. Glaukos had a negative return on equity of 18.99% and a negative net margin of 42.43%. The business had revenue of $96.70 million during the quarter, compared to analysts' expectations of $91.50 million. During the same quarter last year, the business posted ($0.50) earnings per share. The company's quarterly revenue was up 23.9% on a year-over-year basis. On average, sell-side analysts expect that Glaukos Co. will post -1.96 earnings per share for the current year.

Insider Activity

In other news, Director Gilbert H. Kliman sold 3,000 shares of the company's stock in a transaction on Monday, September 9th. The shares were 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. This represents a 8.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Joseph E. Gilliam sold 2,275 shares of the stock in a transaction 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 owns 102,169 shares of the company's stock, 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. Insiders own 6.40% of the company's stock.

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.