Norges Bank Purchases New Holdings in Glaukos Co. (NYSE:GKOS)

Norges Bank purchased a new stake in Glaukos Co. (NYSE:GKOS - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 563,493 shares of the medical instruments supplier's stock, valued at approximately $84,490,000. Norges Bank owned approximately 1.02% of Glaukos as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BNP Paribas Financial Markets grew its position in shares of Glaukos by 186.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 13,726 shares of the medical instruments supplier's stock valued at $1,788,000 after purchasing an additional 8,942 shares in the last quarter. Harbor Capital Advisors Inc. bought a new stake in Glaukos during the fourth quarter valued at $3,679,000. State Street Corp grew its position in Glaukos by 5.3% during the third quarter. State Street Corp now owns 1,954,449 shares of the medical instruments supplier's stock worth $254,626,000 after buying an additional 98,109 shares in the last quarter. Sanctuary Advisors LLC bought a new position in Glaukos in the 3rd quarter worth about $258,000. Finally, Rhumbline Advisers raised its holdings in shares of Glaukos by 0.3% in the 4th quarter. Rhumbline Advisers now owns 141,790 shares of the medical instruments supplier's stock valued at $21,260,000 after acquiring an additional 403 shares in the last quarter. 99.04% of the stock is currently owned by institutional investors.

Glaukos Trading Up 2.7 %

GKOS stock traded up $2.22 during midday trading on Monday, hitting $85.87. The company had a trading volume of 1,996,174 shares, compared to its average volume of 622,234. The stock has a market cap of $4.86 billion, a price-to-earnings ratio of -29.92 and a beta of 0.88. Glaukos Co. has a 52 week low of $77.91 and a 52 week high of $163.71. 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 stock's 50 day moving average price is $122.46 and its 200 day moving average price is $134.38.

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Glaukos (NYSE:GKOS - Get Free Report) last issued its earnings results on Thursday, February 20th. The medical instruments supplier reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.02). The firm had revenue of $105.50 million during the quarter, compared to analysts' expectations of $100.72 million. Glaukos had a negative return on equity of 16.53% and a negative net margin of 39.04%. As a group, equities research analysts expect that Glaukos Co. will post -1.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Needham & Company LLC upped their price objective 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. Wells Fargo & Company raised their price objective on shares of Glaukos from $153.00 to $160.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. Stifel Nicolaus upped their target price on shares of Glaukos from $153.00 to $175.00 and gave the stock a "buy" rating in a research report on Tuesday, December 31st. Truist Financial raised their price target on Glaukos from $152.00 to $185.00 and gave the company a "buy" rating in a research report on Wednesday, December 18th. Finally, Citigroup upgraded Glaukos from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $132.00 to $162.00 in a report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Glaukos presently has an average rating of "Moderate Buy" and a consensus price target of $163.25.

Insider Activity

In related news, CFO Alex R. Thurman sold 1,520 shares of the business's 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 transaction, the chief financial officer now owns 53,431 shares in the company, valued at $5,708,568.04. The trade was a 2.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Tomas Navratil sold 3,416 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was 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. This trade represents a 4.50 % decrease in their position. The disclosure for this sale can be found here. Insiders own 6.40% of the company's stock.

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.