Bank of New York Mellon Corp Grows Stock Position in Glaukos Co. (NYSE:GKOS)

Bank of New York Mellon Corp lifted its position in Glaukos Co. (NYSE:GKOS - Free Report) by 6.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 413,680 shares of the medical instruments supplier's stock after acquiring an additional 26,510 shares during the quarter. Bank of New York Mellon Corp owned 0.82% of Glaukos worth $48,959,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GKOS. California Public Employees Retirement System boosted its stake in shares of Glaukos by 10.2% during the fourth quarter. California Public Employees Retirement System now owns 76,804 shares of the medical instruments supplier's stock valued at $6,105,000 after purchasing an additional 7,107 shares in the last quarter. Russell Investments Group Ltd. boosted its position in Glaukos by 17.9% during the 4th quarter. Russell Investments Group Ltd. now owns 17,891 shares of the medical instruments supplier's stock valued at $1,422,000 after acquiring an additional 2,715 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Glaukos by 7.8% in the 4th quarter. Victory Capital Management Inc. now owns 19,763 shares of the medical instruments supplier's stock valued at $1,571,000 after acquiring an additional 1,426 shares during the period. Fisher Asset Management LLC bought a new position in shares of Glaukos in the 4th quarter worth $216,000. Finally, Natixis Advisors L.P. boosted its position in Glaukos by 14.5% during the fourth quarter. Natixis Advisors L.P. now owns 38,920 shares of the medical instruments supplier's stock valued at $3,093,000 after purchasing an additional 4,941 shares in the last quarter. 99.04% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GKOS. StockNews.com downgraded Glaukos from a "hold" rating to a "sell" rating in a research report on Friday. Stifel Nicolaus increased their price target on Glaukos from $110.00 to $130.00 and gave the company a "buy" rating in a research note on Wednesday, June 5th. Truist Financial reissued a "buy" rating and issued a $145.00 price target (up previously from $141.00) on shares of Glaukos in a report on Thursday, August 1st. Jefferies Financial Group upgraded shares of Glaukos from a "hold" rating to a "buy" rating and upped their price objective for the company from $84.00 to $125.00 in a report on Monday, May 6th. Finally, Wells Fargo & Company lifted their target price on shares of Glaukos from $120.00 to $135.00 and gave the stock an "overweight" rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $128.45.

Glaukos Trading Up 1.0 %

GKOS traded up $1.30 during mid-day trading on Friday, hitting $133.89. 448,813 shares of the stock were exchanged, compared to its average volume of 496,345. The company has a market cap of $7.36 billion, a PE ratio of -46.49 and a beta of 1.05. The company has a current ratio of 5.48, a quick ratio of 4.67 and a debt-to-equity ratio of 0.19. The firm's fifty day moving average is $122.24 and its two-hundred day moving average is $107.78. Glaukos Co. has a 1-year low of $59.22 and a 1-year high of $136.36.

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 the consensus estimate of ($0.52). Glaukos had a negative return on equity of 22.51% and a negative net margin of 47.39%. The business had revenue of $95.70 million for the quarter, compared to analyst estimates of $88.86 million. During the same quarter last year, the company earned ($0.55) EPS. The business's quarterly revenue was up 19.0% on a year-over-year basis. Equities analysts forecast that Glaukos Co. will post -2.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Joseph E. Gilliam sold 5,000 shares of Glaukos stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $129.36, for a total value of $646,800.00. Following the transaction, the chief operating officer now directly owns 102,169 shares in the company, valued at approximately $13,216,581.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, COO Joseph E. Gilliam sold 5,000 shares of Glaukos stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $129.36, for a total value of $646,800.00. Following the sale, the chief operating officer now directly owns 102,169 shares in the company, valued at $13,216,581.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Marc Stapley sold 6,250 shares of the business's stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $125.93, for a total transaction of $787,062.50. Following the sale, the director now owns 34,076 shares in the company, valued at $4,291,190.68. The disclosure for this sale can be found here. Insiders have sold a total of 41,000 shares of company stock valued at $4,990,740 over the last quarter. 6.40% of the stock is currently owned by insiders.

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.