Fred Alger Management LLC Sells 201,749 Shares of Glaukos Co. (NYSE:GKOS)

Fred Alger Management LLC lowered its holdings in shares of Glaukos Co. (NYSE:GKOS - Free Report) by 15.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,076,974 shares of the medical instruments supplier's stock after selling 201,749 shares during the quarter. Fred Alger Management LLC owned approximately 1.95% of Glaukos worth $140,308,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in GKOS. Primecap Management Co. CA grew its holdings in Glaukos by 2.0% during the third quarter. Primecap Management Co. CA now owns 1,245,185 shares of the medical instruments supplier's stock valued at $162,223,000 after purchasing an additional 24,370 shares during the period. Driehaus Capital Management LLC lifted its position in shares of Glaukos by 24.0% during the 2nd quarter. Driehaus Capital Management LLC now owns 803,650 shares of the medical instruments supplier's stock valued at $95,112,000 after buying an additional 155,653 shares in the last quarter. Loomis Sayles & Co. L P grew its stake in shares of Glaukos by 21.6% during the 3rd quarter. Loomis Sayles & Co. L P now owns 673,751 shares of the medical instruments supplier's stock valued at $87,776,000 after acquiring an additional 119,527 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Glaukos by 47.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 641,761 shares of the medical instruments supplier's stock worth $83,609,000 after acquiring an additional 207,338 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in Glaukos in the 2nd quarter worth approximately $67,460,000. Hedge funds and other institutional investors own 99.04% of the company's stock.

Insider Buying and Selling

In other Glaukos news, COO Joseph E. Gilliam sold 2,275 shares of the business'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 transaction, the chief operating officer now owns 102,169 shares in the company, valued at $14,198,425.93. The trade was a 2.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gilbert H. Kliman sold 3,000 shares of the firm's stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $130.67, for a total transaction of $392,010.00. Following the completion of the sale, the director now owns 32,336 shares of the company's stock, valued at $4,225,345.12. This trade represents a 8.49 % decrease in their position. The disclosure for this sale can be found here. 6.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on GKOS shares. Piper Sandler set a $140.00 price target on shares of Glaukos in a research report on Thursday, October 17th. BTIG Research upped their target price on shares of Glaukos from $140.00 to $149.00 and gave the stock a "buy" rating in a report on Tuesday. Stifel Nicolaus raised their price target on Glaukos from $130.00 to $145.00 and gave the company a "buy" rating in a report on Tuesday, September 3rd. StockNews.com upgraded Glaukos from a "sell" rating to a "hold" rating in a research report on Monday, October 21st. Finally, Truist Financial increased their target price on Glaukos from $145.00 to $152.00 and gave the stock a "buy" rating in a research report on Monday, October 14th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Glaukos currently has an average rating of "Moderate Buy" and an average target price of $135.45.

Glaukos Price Performance

Shares of GKOS traded up $0.96 during mid-day trading on Friday, hitting $143.65. 165,871 shares of the stock were exchanged, compared to its average volume of 570,121. 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 $7.92 billion, a PE ratio of -47.62 and a beta of 1.02. Glaukos Co. has a 52-week low of $59.58 and a 52-week high of $146.86. The firm has a 50-day moving average of $134.13 and a two-hundred day moving average of $124.77.

Glaukos (NYSE:GKOS - Get Free Report) last released 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 analyst estimates of $91.50 million. During the same quarter last year, the business earned ($0.50) earnings per share. Glaukos's quarterly revenue was up 23.9% compared to the same quarter last year. On average, equities analysts predict that Glaukos Co. will post -1.91 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.