Legato Capital Management LLC Decreases Stock Position in Glaukos Co. (NYSE:GKOS)

Legato Capital Management LLC reduced its stake in Glaukos Co. (NYSE:GKOS - Free Report) by 52.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,540 shares of the medical instruments supplier's stock after selling 5,072 shares during the period. Legato Capital Management LLC's holdings in Glaukos were worth $537,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. National Bank of Canada FI acquired a new position in shares of Glaukos during the 4th quarter worth about $46,000. GAMMA Investing LLC bought a new stake in Glaukos in the fourth quarter valued at approximately $55,000. Quadrant Capital Group LLC raised its holdings in Glaukos by 54.8% in the fourth quarter. Quadrant Capital Group LLC now owns 929 shares of the medical instruments supplier's stock worth $74,000 after purchasing an additional 329 shares during the period. Caldwell Sutter Capital Inc. boosted its position in shares of Glaukos by 5,860.0% during the first quarter. Caldwell Sutter Capital Inc. now owns 1,490 shares of the medical instruments supplier's stock worth $140,000 after purchasing an additional 1,465 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC bought a new position in shares of Glaukos during the second quarter worth $187,000. 99.04% of the stock is owned by institutional investors and hedge funds.

Glaukos Stock Up 0.1 %

Shares of NYSE:GKOS traded up $0.13 during midday trading on Wednesday, reaching $135.39. The company had a trading volume of 296,658 shares, compared to its average volume of 586,973. The business's 50 day moving average price is $121.40 and its 200 day moving average price is $107.16. Glaukos Co. has a 1-year low of $59.22 and a 1-year high of $136.36. The company has a quick ratio of 4.68, a current ratio of 5.48 and a debt-to-equity ratio of 0.19. The stock has a market cap of $6.82 billion, a PE ratio of -47.01 and a beta of 1.05.

Glaukos (NYSE:GKOS - Get Free Report) last issued its earnings results on Wednesday, July 31st. The medical instruments supplier reported ($0.52) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.52). Glaukos had a negative net margin of 47.39% and a negative return on equity of 22.51%. The business had revenue of $95.70 million for the quarter, compared to the consensus estimate of $88.86 million. During the same period in the previous year, the company earned ($0.55) earnings per share. The firm's revenue for the quarter was up 19.0% on a year-over-year basis. Research analysts forecast that Glaukos Co. will post -2.25 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Gilbert H. Kliman sold 5,000 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $112.00, for a total transaction of $560,000.00. Following the sale, the director now owns 30,620 shares in the company, valued at approximately $3,429,440. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Gilbert H. Kliman sold 5,000 shares of the stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $112.00, for a total value of $560,000.00. Following the completion of the transaction, the director now owns 30,620 shares of the company's stock, valued at $3,429,440. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Joseph E. Gilliam sold 2,250 shares of the stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $121.39, for a total transaction of $273,127.50. Following the completion of the transaction, the chief operating officer now directly owns 101,845 shares of the company's stock, valued at approximately $12,362,964.55. The disclosure for this sale can be found here. Insiders have sold 46,000 shares of company stock worth $5,550,740 in the last 90 days. Company insiders own 6.40% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Needham & Company LLC raised their price objective on Glaukos from $131.00 to $137.00 and gave the stock a "buy" rating in a research note on Thursday, August 1st. Jefferies Financial Group upgraded Glaukos from a "hold" rating to a "buy" rating and lifted their price objective for the company from $84.00 to $125.00 in a report on Monday, May 6th. Wells Fargo & Company increased their target price on Glaukos from $120.00 to $135.00 and gave the stock an "overweight" rating in a research note on Thursday, August 1st. Piper Sandler lifted their price target on shares of Glaukos from $110.00 to $140.00 and gave the company an "overweight" rating in a research note on Thursday, August 1st. Finally, BTIG Research increased their price objective on shares of Glaukos from $131.00 to $139.00 and gave the stock a "buy" rating in a research report on Wednesday. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $128.45.

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.