Harbor Capital Advisors Inc. Makes New Investment in Glaukos Co. (NYSE:GKOS)

Harbor Capital Advisors Inc. bought a new stake in Glaukos Co. (NYSE:GKOS - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 24,539 shares of the medical instruments supplier's stock, valued at approximately $3,679,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP boosted its stake in Glaukos by 294.5% in the third quarter. Wellington Management Group LLP now owns 2,183,766 shares of the medical instruments supplier's stock valued at $284,501,000 after buying an additional 1,630,270 shares in the last quarter. State Street Corp lifted its holdings in shares of Glaukos by 5.3% in the third 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 last quarter. Fred Alger Management LLC boosted its stake in shares of Glaukos by 3.8% in the 2nd quarter. Fred Alger Management LLC now owns 1,278,723 shares of the medical instruments supplier's stock valued at $151,337,000 after purchasing an additional 47,308 shares in the last quarter. Primecap Management Co. CA grew its holdings in shares of Glaukos by 2.0% during the 3rd 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 last quarter. Finally, Geode Capital Management LLC increased its position in Glaukos by 6.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,172,016 shares of the medical instruments supplier's stock worth $152,722,000 after purchasing an additional 66,134 shares in the last quarter. Institutional investors own 99.04% of the company's stock.

Analyst Upgrades and Downgrades

GKOS has been the topic of a number of research reports. StockNews.com raised shares of Glaukos from a "sell" rating to a "hold" rating in a research note on Monday, October 21st. Morgan Stanley lowered Glaukos from an "equal weight" rating to an "underweight" rating and set a $120.00 price objective on the stock. in a research report on Monday, December 2nd. Truist Financial increased their target price on Glaukos from $152.00 to $185.00 and gave the company a "buy" rating in a research report on Wednesday, December 18th. Wells Fargo & Company boosted their price target on Glaukos from $145.00 to $153.00 and gave the stock an "overweight" rating in a report on Wednesday, December 11th. Finally, Piper Sandler set a $140.00 price objective on Glaukos in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Glaukos presently has an average rating of "Moderate Buy" and an average price target of $147.75.

Insiders Place Their Bets

In other news, Director Gilbert H. Kliman sold 10,000 shares of the company's stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $150.28, for a total transaction of $1,502,800.00. Following the transaction, the director now directly owns 32,336 shares of the company's stock, valued at $4,859,454.08. This represents a 23.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Joseph E. Gilliam sold 3,328 shares of Glaukos stock in a transaction on Friday, December 20th. The shares were sold at an average price of $149.85, for a total transaction of $498,700.80. Following the completion of the sale, the chief operating officer now directly owns 102,169 shares of the company's stock, valued at approximately $15,310,024.65. The trade was a 3.15 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,603 shares of company stock worth $2,605,678. Corporate insiders own 6.40% of the company's stock.

Glaukos Trading Down 0.7 %

NYSE GKOS traded down $1.16 during mid-day trading on Friday, reaching $156.96. 882,010 shares of the stock were exchanged, compared to its average volume of 643,352. The company has a debt-to-equity ratio of 0.19, a current ratio of 5.54 and a quick ratio of 4.71. The stock has a market cap of $8.65 billion, a P/E ratio of -51.97 and a beta of 1.04. The stock has a 50 day simple moving average of $144.29 and a 200-day simple moving average of $132.27. Glaukos Co. has a one year low of $83.90 and a one year high of $161.13.

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 analysts' consensus estimates 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 company had revenue of $96.70 million for the quarter, compared to the consensus estimate of $91.50 million. During the same period in the previous year, the business earned ($0.50) EPS. The firm's revenue was up 23.9% compared to the same quarter last year. On average, analysts anticipate that Glaukos Co. will post -1.89 EPS for the current year.

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.