Glaukos Co. (NYSE:GKOS) Shares Purchased by Primecap Management Co. CA

Primecap Management Co. CA boosted its stake in Glaukos Co. (NYSE:GKOS - Free Report) by 43.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,220,815 shares of the medical instruments supplier's stock after buying an additional 372,180 shares during the period. Primecap Management Co. CA owned 2.42% of Glaukos worth $144,483,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GKOS. Quadrant Capital Group LLC raised its holdings in Glaukos by 54.8% in the 4th quarter. Quadrant Capital Group LLC now owns 929 shares of the medical instruments supplier's stock worth $74,000 after acquiring an additional 329 shares during the last quarter. Caldwell Sutter Capital Inc. grew its stake in shares of Glaukos by 5,860.0% during the 1st quarter. Caldwell Sutter Capital Inc. now owns 1,490 shares of the medical instruments supplier's stock valued at $140,000 after acquiring an additional 1,465 shares during the period. GAMMA Investing LLC increased its stake in shares of Glaukos by 68.8% in the second quarter. GAMMA Investing LLC now owns 1,192 shares of the medical instruments supplier's stock worth $141,000 after purchasing an additional 486 shares in the last quarter. Fifth Third Wealth Advisors LLC purchased a new stake in shares of Glaukos during the second quarter worth about $187,000. Finally, LVW Advisors LLC bought a new stake in shares of Glaukos during the second quarter valued at approximately $213,000. 99.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GKOS. StockNews.com downgraded Glaukos from a "hold" rating to a "sell" rating in a research report on Friday, August 30th. Needham & Company LLC upped their price objective on shares of Glaukos from $131.00 to $137.00 and gave the stock a "buy" rating in a research note on Thursday, August 1st. Piper Sandler increased their target price on Glaukos from $110.00 to $140.00 and gave the company an "overweight" rating in a research report on Thursday, August 1st. Stifel Nicolaus lifted their price objective on shares of Glaukos from $130.00 to $145.00 and gave the stock a "buy" rating in a research report on Tuesday, September 3rd. Finally, BTIG Research boosted their target price on Glaukos from $131.00 to $139.00 and gave the stock a "buy" rating in a research note on Wednesday, August 28th. 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's stock. Based on data from MarketBeat.com, Glaukos currently has an average rating of "Moderate Buy" and an average target price of $129.82.

Insider Buying and Selling at Glaukos

In other news, Director Aimee S. Weisner sold 25,000 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $120.00, for a total transaction of $3,000,000.00. Following the sale, the director now directly owns 30,119 shares of the company's stock, valued at approximately $3,614,280. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Aimee S. Weisner sold 25,000 shares of the company's stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $120.00, for a total transaction of $3,000,000.00. Following the completion of the transaction, the director now directly owns 30,119 shares of the company's stock, valued at approximately $3,614,280. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Marc Stapley sold 6,250 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $125.93, for a total value of $787,062.50. Following the transaction, the director now owns 34,076 shares in the company, valued at approximately $4,291,190.68. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,500 shares of company stock valued at $5,099,000. Corporate insiders own 6.40% of the company's stock.

Glaukos Stock Performance

GKOS traded up $0.73 during midday trading on Wednesday, hitting $122.31. 392,977 shares of the company were exchanged, compared to its average volume of 584,512. Glaukos Co. has a 1-year low of $59.22 and a 1-year high of $136.60. 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 has a market capitalization of $6.16 billion, a price-to-earnings ratio of -42.47 and a beta of 1.03. The company's 50 day simple moving average is $124.57 and its 200 day simple moving average is $110.86.

Glaukos (NYSE:GKOS - Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The medical instruments supplier reported ($0.52) earnings per share for the quarter, meeting the consensus estimate of ($0.52). The company had revenue of $95.70 million during the quarter, compared to analysts' expectations of $88.86 million. Glaukos had a negative return on equity of 22.51% and a negative net margin of 47.39%. Glaukos's quarterly revenue was up 19.0% on a year-over-year basis. During the same period last year, the business earned ($0.55) earnings per share. As a group, sell-side analysts predict that Glaukos Co. will post -2.18 earnings per share 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.