Great Lakes Advisors LLC Buys New Holdings in Glaukos Co. (NYSE:GKOS)

Great Lakes Advisors LLC acquired a new stake in Glaukos Co. (NYSE:GKOS - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 117,656 shares of the medical instruments supplier's stock, valued at approximately $13,925,000. Great Lakes Advisors LLC owned about 0.23% of Glaukos as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in GKOS. National Bank of Canada FI purchased a new position in shares of Glaukos in the 4th quarter valued at about $46,000. Quadrant Capital Group LLC boosted its position in shares of Glaukos by 54.8% in the 4th quarter. Quadrant Capital Group LLC now owns 929 shares of the medical instruments supplier's stock valued at $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% in the 1st quarter. Caldwell Sutter Capital Inc. now owns 1,490 shares of the medical instruments supplier's stock valued at $140,000 after purchasing an additional 1,465 shares during the period. GAMMA Investing LLC boosted its position in shares of Glaukos by 68.8% in the 2nd quarter. GAMMA Investing LLC now owns 1,192 shares of the medical instruments supplier's stock valued at $141,000 after purchasing an additional 486 shares during the period. Finally, Fifth Third Wealth Advisors LLC acquired a new stake in shares of Glaukos in the 2nd quarter valued at about $187,000. Hedge funds and other institutional investors own 99.04% of the company's stock.

Insiders Place Their Bets

In other Glaukos news, COO Joseph E. Gilliam sold 5,000 shares of the firm's stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $129.36, for a total transaction of $646,800.00. Following the completion of the transaction, the chief operating officer now owns 102,169 shares of the company's stock, valued at $13,216,581.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, COO Joseph E. Gilliam sold 2,250 shares of Glaukos stock in a transaction on Friday, July 5th. The stock was sold at an average price of $121.39, for a total value of $273,127.50. Following the completion of the sale, the chief operating officer now owns 101,845 shares of the company's stock, valued at $12,362,964.55. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 completion of the sale, the chief operating officer now directly owns 102,169 shares of the company's stock, valued at approximately $13,216,581.84. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,500 shares of company stock valued at $4,706,990. Corporate insiders own 6.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. StockNews.com cut Glaukos from a "hold" rating to a "sell" rating in a research report on Friday, August 30th. Citigroup cut Glaukos from a "buy" rating to a "neutral" rating and increased their price objective for the stock from $130.00 to $132.00 in a research report on Wednesday, July 10th. Truist Financial reaffirmed a "buy" rating and set a $145.00 price objective (up from $141.00) on shares of Glaukos in a research report on Thursday, August 1st. Stifel Nicolaus increased their price objective on Glaukos from $130.00 to $145.00 and gave the stock a "buy" rating in a research report on Tuesday, September 3rd. Finally, Morgan Stanley increased their price objective on Glaukos from $100.00 to $120.00 and gave the stock an "equal weight" rating in a research report on Monday, July 15th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $129.82.

Glaukos Price Performance

NYSE GKOS traded up $0.93 during mid-day trading on Friday, hitting $129.28. The stock had a trading volume of 719,359 shares, compared to its average volume of 586,106. Glaukos Co. has a 52-week low of $59.22 and a 52-week high of $136.60. The company has a market cap of $6.51 billion, a price-to-earnings ratio of -44.89 and a beta of 1.03. The company has a 50 day simple moving average of $123.81 and a 200 day simple moving average of $109.11. The company has a quick ratio of 4.67, a current ratio of 5.48 and a debt-to-equity ratio of 0.19.

Glaukos (NYSE:GKOS - Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The medical instruments supplier reported ($0.52) earnings per share for the quarter, meeting 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 firm had revenue of $95.70 million during the quarter, compared to the consensus estimate of $88.86 million. During the same period last year, the business posted ($0.55) EPS. Glaukos's quarterly revenue was up 19.0% on a year-over-year basis. Equities analysts forecast that Glaukos Co. will post -2.18 EPS for the current fiscal 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.