Cinctive Capital Management LP Cuts Position in Glaukos Co. (NYSE:GKOS)

Cinctive Capital Management LP decreased its position in shares of Glaukos Co. (NYSE:GKOS - Free Report) by 83.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,281 shares of the medical instruments supplier's stock after selling 51,702 shares during the period. Cinctive Capital Management LP's holdings in Glaukos were worth $1,542,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Glaukos by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 5,974,971 shares of the medical instruments supplier's stock valued at $895,887,000 after buying an additional 101,838 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Glaukos by 294.5% during the 3rd quarter. Wellington Management Group LLP now owns 2,183,766 shares of the medical instruments supplier's stock valued at $284,501,000 after acquiring an additional 1,630,270 shares in the last quarter. State Street Corp boosted its holdings in Glaukos by 5.3% in the 3rd quarter. State Street Corp now owns 1,954,449 shares of the medical instruments supplier's stock worth $254,626,000 after acquiring an additional 98,109 shares during the period. Geode Capital Management LLC increased its position in shares of Glaukos by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 1,197,215 shares of the medical instruments supplier's stock worth $179,555,000 after acquiring an additional 25,199 shares during the last quarter. Finally, Alliancebernstein L.P. raised its holdings in Glaukos by 1,235.4% in the fourth quarter. Alliancebernstein L.P. now owns 816,153 shares of the medical instruments supplier's stock valued at $122,374,000 after acquiring an additional 755,035 shares in the last quarter. Institutional investors and hedge funds own 99.04% of the company's stock.

Remove Ads

Analyst Upgrades and Downgrades

A number of research firms have issued reports on GKOS. Mizuho upgraded Glaukos from a "neutral" rating to an "outperform" rating and raised their target price for the company from $140.00 to $200.00 in a research note on Wednesday, February 19th. Truist Financial upped their target price on Glaukos from $152.00 to $185.00 and gave the company a "buy" rating in a report on Wednesday, December 18th. Stifel Nicolaus increased their target price on Glaukos from $153.00 to $175.00 and gave the company a "buy" rating in a report on Tuesday, December 31st. Citigroup raised Glaukos from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $132.00 to $162.00 in a research report on Wednesday, December 11th. Finally, Needham & Company LLC increased their target price on shares of Glaukos from $149.00 to $176.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. One research analyst has rated the stock with a sell rating, one has given a hold rating, eleven have given 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 a consensus price target of $163.25.

Insider Buying and Selling at Glaukos

In other Glaukos news, insider Tomas Navratil sold 3,416 shares of Glaukos stock in a transaction that occurred 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 sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Alex R. Thurman sold 1,520 shares of the stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $106.84, for a total transaction of $162,396.80. Following the completion of the transaction, the chief financial officer now owns 53,431 shares in the company, valued at $5,708,568.04. This trade represents a 2.77 % decrease in their position. The disclosure for this sale can be found here. 6.40% of the stock is currently owned by corporate insiders.

Glaukos Stock Up 13.8 %

NYSE:GKOS traded up $11.32 during trading hours on Wednesday, hitting $93.59. 1,689,331 shares of the company traded hands, compared to its average volume of 627,410. 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 company has a market cap of $5.29 billion, a PE ratio of -32.61 and a beta of 0.88. Glaukos Co. has a one year low of $77.91 and a one year high of $163.71. The firm's 50-day simple moving average is $116.82 and its 200-day simple moving average is $133.18.

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