Zweig DiMenna Associates LLC Makes New Investment in Glaukos Co. (NYSE:GKOS)

Zweig DiMenna Associates LLC acquired a new stake in Glaukos Co. (NYSE:GKOS - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 58,665 shares of the medical instruments supplier's stock, valued at approximately $8,796,000. Zweig DiMenna Associates LLC owned 0.11% of Glaukos at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Values First Advisors Inc. acquired a new position in shares of Glaukos in the 3rd quarter valued at about $25,000. Harvest Fund Management Co. Ltd increased its position in Glaukos by 2,263.2% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 898 shares of the medical instruments supplier's stock valued at $117,000 after buying an additional 860 shares in the last quarter. KBC Group NV increased its position in Glaukos by 16.2% in the 3rd quarter. KBC Group NV now owns 1,445 shares of the medical instruments supplier's stock valued at $188,000 after buying an additional 201 shares in the last quarter. Zhang Financial LLC bought a new stake in Glaukos in the 4th quarter valued at about $221,000. Finally, EWA LLC bought a new stake in Glaukos in the 3rd quarter valued at about $209,000. 99.04% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Piper Sandler set a $140.00 target price on Glaukos in a research report on Thursday, October 17th. UBS Group began coverage on Glaukos in a research report on Friday, December 6th. They issued a "buy" rating and a $182.00 target price for the company. Truist Financial boosted their price objective on Glaukos from $152.00 to $185.00 and gave the stock a "buy" rating in a report on Wednesday, December 18th. Morgan Stanley lowered Glaukos from an "equal weight" rating to an "underweight" rating and set a $120.00 price objective for the company. in a report on Monday, December 2nd. Finally, Wells Fargo & Company upped their target price on Glaukos from $145.00 to $153.00 and gave the company an "overweight" rating in a report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Glaukos presently has a consensus rating of "Moderate Buy" and an average target price of $147.75.

Insider Activity

In related news, Director Gilbert H. Kliman sold 2,000 shares of the firm's stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $144.01, for a total transaction of $288,020.00. Following the completion of the transaction, the director now owns 32,336 shares of the company's stock, valued at $4,656,707.36. This trade represents a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Joseph E. Gilliam sold 3,328 shares of Glaukos stock in a transaction on Friday, December 20th. The shares were sold at an average price of $149.85, for a total transaction of $498,700.80. Following the completion of the transaction, the chief operating officer now directly owns 102,169 shares of the company's stock, valued at $15,310,024.65. The trade was a 3.15 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,603 shares of company stock worth $2,605,678. Corporate insiders own 6.40% of the company's stock.

Glaukos Price Performance

Shares of GKOS traded down $0.72 during midday trading on Friday, hitting $160.50. 369,742 shares of the company traded hands, compared to its average volume of 593,242. The firm has a 50 day moving average of $146.86 and a 200-day moving average of $134.31. Glaukos Co. has a 52 week low of $83.90 and a 52 week high of $163.71. The stock has a market cap of $8.85 billion, a price-to-earnings ratio of -53.15 and a beta of 1.04. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.71 and a current ratio of 5.54.

Glaukos (NYSE:GKOS - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share for the quarter, topping analysts' consensus estimates of ($0.48) by $0.20. The company had revenue of $96.70 million for the quarter, compared to analyst estimates of $91.50 million. Glaukos had a negative net margin of 42.43% and a negative return on equity of 18.99%. The firm's revenue for the quarter was up 23.9% on a year-over-year basis. During the same period in the prior year, the company posted ($0.50) EPS. On average, analysts forecast that Glaukos Co. will post -1.89 EPS for the current fiscal year.

Glaukos 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.