Seven Eight Capital LP Acquires New Position in Glaukos Co. (NYSE:GKOS)

Seven Eight Capital LP purchased a new position in Glaukos Co. (NYSE:GKOS - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 16,391 shares of the medical instruments supplier's stock, valued at approximately $1,940,000.

Other hedge funds also recently made changes to their positions in the company. Quadrant Capital Group LLC lifted 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 buying an additional 329 shares during the period. Caldwell Sutter Capital Inc. grew its holdings 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 worth $140,000 after acquiring an additional 1,465 shares during the period. GAMMA Investing LLC raised 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 worth $141,000 after acquiring an additional 486 shares in the last quarter. Fifth Third Wealth Advisors LLC purchased a new position in shares of Glaukos in the 2nd quarter valued at approximately $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.

Analyst Upgrades and Downgrades

Several equities analysts have commented on GKOS shares. Morgan Stanley raised their price objective on Glaukos from $100.00 to $120.00 and gave the company an "equal weight" rating in a research report on Monday, July 15th. Truist Financial reissued a "buy" rating and set a $145.00 price target (up from $141.00) on shares of Glaukos in a research report on Thursday, August 1st. StockNews.com cut shares of Glaukos from a "hold" rating to a "sell" rating in a report on Friday, August 30th. Citigroup lowered shares of Glaukos from a "buy" rating to a "neutral" rating and lifted their target price for the company from $130.00 to $132.00 in a report on Wednesday, July 10th. Finally, Wells Fargo & Company upped their price target on Glaukos from $120.00 to $135.00 and gave the stock an "overweight" rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Glaukos has an average rating of "Moderate Buy" and an average target price of $129.82.

Glaukos Stock Up 6.4 %

Shares of GKOS stock traded up $7.82 during mid-day trading on Thursday, hitting $130.13. The company's stock had a trading volume of 749,533 shares, compared to its average volume of 585,330. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.67 and a current ratio of 5.48. Glaukos Co. has a 52-week low of $59.22 and a 52-week high of $136.60. The stock has a market cap of $6.55 billion, a price-to-earnings ratio of -45.18 and a beta of 1.03. The business has a 50-day moving average price of $124.75 and a 200 day moving average price of $111.08.

Glaukos (NYSE:GKOS - Get Free Report) last posted its earnings results on Wednesday, July 31st. The medical instruments supplier reported ($0.52) earnings per share (EPS) for the quarter, meeting the consensus estimate 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 analysts' expectations of $88.86 million. During the same quarter in the prior year, the business earned ($0.55) EPS. The business's revenue for the quarter was up 19.0% compared to the same quarter last year. Research analysts predict that Glaukos Co. will post -2.18 EPS for the current fiscal year.

Insider Buying and Selling at Glaukos

In other Glaukos news, COO Joseph E. Gilliam sold 2,250 shares of the firm's stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $121.39, for a total value of $273,127.50. Following the transaction, the chief operating officer now directly owns 101,845 shares of the company's stock, valued at $12,362,964.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Joseph E. Gilliam sold 2,250 shares of the business's 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 sale, the chief operating officer now directly owns 101,845 shares in the company, valued at $12,362,964.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Marc Stapley sold 6,250 shares of the stock in a transaction that occurred 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 completion of the transaction, 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. In the last ninety days, insiders sold 41,500 shares of company stock worth $5,099,000. 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.