PNC Financial Services Group Inc. Purchases 30,775 Shares of Glaukos Co. (NYSE:GKOS)

PNC Financial Services Group Inc. grew its position in shares of Glaukos Co. (NYSE:GKOS - Free Report) by 817.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 34,541 shares of the medical instruments supplier's stock after buying an additional 30,775 shares during the period. PNC Financial Services Group Inc. owned about 0.06% of Glaukos worth $5,179,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of GKOS. Wellington Management Group LLP boosted its stake in Glaukos by 294.5% during the 3rd quarter. Wellington Management Group LLP now owns 2,183,766 shares of the medical instruments supplier's stock valued at $284,501,000 after purchasing an additional 1,630,270 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Glaukos by 47.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 641,761 shares of the medical instruments supplier's stock valued at $83,609,000 after purchasing an additional 207,338 shares during the period. Loomis Sayles & Co. L P lifted its stake in shares of Glaukos by 21.6% in the 3rd quarter. Loomis Sayles & Co. L P now owns 673,751 shares of the medical instruments supplier's stock worth $87,776,000 after acquiring an additional 119,527 shares during the period. Raymond James Financial Inc. acquired a new stake in Glaukos in the fourth quarter worth approximately $16,910,000. Finally, State Street Corp boosted its stake in Glaukos by 5.3% during the third quarter. State Street Corp now owns 1,954,449 shares of the medical instruments supplier's stock valued at $254,626,000 after buying an additional 98,109 shares in the last quarter. 99.04% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GKOS. Stephens upgraded shares of Glaukos to a "strong-buy" rating in a report on Monday, December 2nd. Citigroup upgraded shares of Glaukos from a "neutral" rating to a "buy" rating and upped their price target for the company from $132.00 to $162.00 in a research report on Wednesday, December 11th. Morgan Stanley lowered shares of Glaukos from an "equal weight" rating to an "underweight" rating and set a $120.00 price objective for the company. in a research note on Monday, December 2nd. Needham & Company LLC increased their target price on Glaukos from $149.00 to $176.00 and gave the company a "buy" rating in a report on Friday, February 21st. Finally, Mizuho upgraded Glaukos from a "neutral" rating to an "outperform" rating and lifted their price target for the company from $140.00 to $200.00 in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $163.25.

Insider Buying and Selling

In other news, insider Tomas Navratil sold 3,416 shares of Glaukos stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $147.14, for a total value of $502,630.24. Following the transaction, the insider now directly owns 72,437 shares in the company, valued at approximately $10,658,380.18. The trade was a 4.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Joseph E. Gilliam sold 3,328 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $149.85, for a total value of $498,700.80. Following the sale, the chief operating officer now owns 102,169 shares of the company's stock, valued at approximately $15,310,024.65. The trade was a 3.15 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,744 shares of company stock worth $2,504,131. 6.40% of the stock is currently owned by insiders.

Glaukos Stock Down 6.4 %

GKOS traded down $6.65 during midday trading on Thursday, hitting $96.69. 707,097 shares of the company's stock traded hands, compared to its average volume of 852,212. The company has a market cap of $5.47 billion, a PE ratio of -33.69 and a beta of 0.99. The stock's fifty day simple moving average is $142.90 and its 200-day simple moving average is $138.16. The company has a debt-to-equity ratio of 0.19, a current ratio of 5.54 and a quick ratio of 4.71. Glaukos Co. has a one year low of $84.08 and a one year high of $163.71.

Glaukos (NYSE:GKOS - Get Free Report) last posted its earnings results on Thursday, February 20th. The medical instruments supplier reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.02). Glaukos had a negative return on equity of 16.53% and a negative net margin of 39.04%. The business had revenue of $105.50 million for the quarter, compared to analyst estimates of $100.72 million. As a group, equities analysts anticipate that Glaukos Co. will post -1.08 earnings per share 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.