Geode Capital Management LLC Boosts Holdings in Glaukos Co. (NYSE:GKOS)

Geode Capital Management LLC grew its holdings in Glaukos Co. (NYSE:GKOS - Free Report) by 2.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,197,215 shares of the medical instruments supplier's stock after purchasing an additional 25,199 shares during the quarter. Geode Capital Management LLC owned approximately 2.17% of Glaukos worth $179,555,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. IFP Advisors Inc bought a new position in Glaukos in the fourth quarter worth approximately $43,000. Asset Planning Inc purchased a new position in shares of Glaukos in the 4th quarter valued at $90,000. Picton Mahoney Asset Management bought a new position in shares of Glaukos in the 4th quarter worth $125,000. SBI Securities Co. Ltd. purchased a new stake in shares of Glaukos during the 4th quarter worth $153,000. Finally, Smartleaf Asset Management LLC boosted its position in Glaukos by 275.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,100 shares of the medical instruments supplier's stock valued at $164,000 after purchasing an additional 807 shares in the last quarter. Hedge funds and other institutional investors own 99.04% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on GKOS shares. Mizuho upgraded shares of Glaukos from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $140.00 to $200.00 in a report on Wednesday, February 19th. Truist Financial decreased their target price on shares of Glaukos from $185.00 to $140.00 and set a "buy" rating for the company in a research report on Friday. Piper Sandler reaffirmed an "overweight" rating and issued a $180.00 price target (up from $140.00) on shares of Glaukos in a report on Monday, January 27th. Stifel Nicolaus increased their price objective on Glaukos from $153.00 to $175.00 and gave the company a "buy" rating in a report on Tuesday, December 31st. Finally, Wells Fargo & Company raised their price objective on Glaukos from $153.00 to $160.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. One analyst has rated the stock with a sell rating, one has given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Glaukos has an average rating of "Moderate Buy" and a consensus price target of $159.50.

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Insider Activity at Glaukos

In other Glaukos news, insider Tomas Navratil sold 3,416 shares of Glaukos stock in a transaction on Friday, February 14th. The shares were sold at an average price of $147.14, for a total value of $502,630.24. Following the completion of the transaction, the insider now owns 72,437 shares of the company's stock, valued at approximately $10,658,380.18. The trade was a 4.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Alex R. Thurman sold 1,520 shares of the stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $106.84, for a total transaction of $162,396.80. Following the sale, the chief financial officer now directly owns 53,431 shares in the company, valued at approximately $5,708,568.04. The trade was a 2.77 % 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 insiders.

Glaukos Stock Performance

Shares of GKOS stock traded up $0.39 during mid-day trading on Friday, reaching $90.05. The stock had a trading volume of 533,122 shares, compared to its average volume of 629,798. Glaukos Co. has a 1-year low of $77.91 and a 1-year high of $163.71. The firm has a market cap of $5.09 billion, a price-to-earnings ratio of -31.38 and a beta of 0.88. The company has a current ratio of 5.54, a quick ratio of 4.71 and a debt-to-equity ratio of 0.19. The business's fifty day moving average is $114.19 and its 200-day moving average is $132.66.

Glaukos (NYSE:GKOS - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The medical instruments supplier reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.02). The business had revenue of $105.50 million during the quarter, compared to analyst estimates of $100.72 million. Glaukos had a negative return on equity of 16.53% and a negative net margin of 39.04%. On average, research analysts forecast that Glaukos Co. will post -1.08 earnings per share 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.