Wellington Management Group LLP Increases Stock Position in Glaukos Co. (NYSE:GKOS)

Wellington Management Group LLP grew its holdings in Glaukos Co. (NYSE:GKOS - Free Report) by 294.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,183,766 shares of the medical instruments supplier's stock after buying an additional 1,630,270 shares during the quarter. Wellington Management Group LLP owned about 3.96% of Glaukos worth $284,501,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. HighTower Advisors LLC increased its stake in Glaukos by 3.3% in the 3rd quarter. HighTower Advisors LLC now owns 3,207 shares of the medical instruments supplier's stock valued at $416,000 after purchasing an additional 103 shares in the last quarter. EFG Asset Management North America Corp. grew its holdings in Glaukos by 0.5% in the second quarter. EFG Asset Management North America Corp. now owns 27,205 shares of the medical instruments supplier's stock valued at $3,216,000 after purchasing an additional 128 shares during the last quarter. Values First Advisors Inc. acquired a new stake in Glaukos in the third quarter valued at $25,000. New York State Teachers Retirement System increased its position in shares of Glaukos by 0.4% in the third quarter. New York State Teachers Retirement System now owns 48,143 shares of the medical instruments supplier's stock valued at $6,272,000 after buying an additional 200 shares in the last quarter. Finally, KBC Group NV raised its stake in shares of Glaukos by 16.2% during the 3rd quarter. KBC Group NV now owns 1,445 shares of the medical instruments supplier's stock worth $188,000 after buying an additional 201 shares during the last quarter. 99.04% of the stock is currently owned by hedge funds and other institutional investors.

Glaukos Trading Up 3.4 %

Shares of GKOS traded up $4.58 during mid-day trading on Friday, hitting $140.28. The company had a trading volume of 762,199 shares, compared to its average volume of 437,160. Glaukos Co. has a 1-year low of $59.58 and a 1-year 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 business's 50-day simple moving average is $135.17 and its 200-day simple moving average is $125.84. The stock has a market cap of $7.73 billion, a PE ratio of -46.45 and a beta of 1.03.

Glaukos (NYSE:GKOS - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.48) by $0.20. The company had revenue of $96.70 million during the quarter, compared to analysts' expectations of $91.50 million. Glaukos had a negative net margin of 42.43% and a negative return on equity of 18.99%. The business's quarterly revenue was up 23.9% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.50) EPS. Sell-side analysts forecast that Glaukos Co. will post -1.89 earnings per share for the current year.

Insider Transactions at Glaukos

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

Analysts Set New Price Targets

Several research firms have weighed in on GKOS. UBS Group began coverage on shares of Glaukos in a report on Friday. They set a "buy" rating and a $182.00 target price for the company. Stephens upgraded Glaukos to a "strong-buy" rating in a research report on Monday, December 2nd. StockNews.com upgraded Glaukos from a "sell" rating to a "hold" rating in a report on Monday, October 21st. Truist Financial upped their price objective on Glaukos from $145.00 to $152.00 and gave the company a "buy" rating in a research report on Monday, October 14th. Finally, BTIG Research lifted their price objective on Glaukos from $140.00 to $149.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $140.00.

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.