Maryland State Retirement & Pension System Decreases Position in Glaukos Co. (NYSE:GKOS)

Maryland State Retirement & Pension System trimmed its holdings in shares of Glaukos Co. (NYSE:GKOS) by 1.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,707 shares of the medical instruments supplier’s stock after selling 212 shares during the period. Maryland State Retirement & Pension System’s holdings in Glaukos were worth $1,408,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in GKOS. Xponance Inc. increased its stake in shares of Glaukos by 4.1% in the fourth quarter. Xponance Inc. now owns 2,879 shares of the medical instruments supplier’s stock worth $229,000 after buying an additional 113 shares during the period. Arizona State Retirement System increased its position in shares of Glaukos by 2.1% in the third quarter. Arizona State Retirement System now owns 13,040 shares of the medical instruments supplier’s stock valued at $981,000 after acquiring an additional 264 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Glaukos by 17.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,827 shares of the medical instruments supplier’s stock worth $137,000 after purchasing an additional 270 shares during the period. Mariner LLC grew its stake in shares of Glaukos by 7.1% in the third quarter. Mariner LLC now owns 6,218 shares of the medical instruments supplier’s stock worth $468,000 after purchasing an additional 411 shares during the last quarter. Finally, Yousif Capital Management LLC increased its holdings in Glaukos by 1.9% during the 4th quarter. Yousif Capital Management LLC now owns 24,749 shares of the medical instruments supplier’s stock valued at $1,967,000 after purchasing an additional 465 shares during the period. 99.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GKOS. Stifel Nicolaus reissued a “buy” rating and set a $110.00 price objective on shares of Glaukos in a research report on Wednesday, April 3rd. Truist Financial reiterated a “buy” rating and set a $125.00 target price (up previously from $120.00) on shares of Glaukos in a report on Thursday, May 2nd. Jefferies Financial Group raised Glaukos from a “hold” rating to a “buy” rating and upped their price target for the stock from $84.00 to $125.00 in a research note on Monday. JPMorgan Chase & Co. raised their target price on shares of Glaukos from $108.00 to $110.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Finally, StockNews.com lowered Glaukos from a “hold” rating to a “sell” rating in a research report on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Glaukos has a consensus rating of “Moderate Buy” and a consensus target price of $108.64.

Glaukos Stock Performance

Shares of GKOS stock opened at $106.91 on Thursday. The company has a quick ratio of 4.68, a current ratio of 5.38 and a debt-to-equity ratio of 0.78. Glaukos Co. has a 52 week low of $54.38 and a 52 week high of $110.73. The firm has a market capitalization of $5.38 billion, a PE ratio of -37.12 and a beta of 1.08. The company has a 50 day moving average price of $94.28 and a 200-day moving average price of $83.79.

Glaukos (NYSE:GKOS) last posted its quarterly earnings data on Wednesday, May 1st. The medical instruments supplier reported ($0.70) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.12). Glaukos had a negative return on equity of 24.69% and a negative net margin of 43.15%. The business had revenue of $85.60 million during the quarter, compared to analysts’ expectations of $79.60 million. During the same period in the previous year, the business posted ($0.59) EPS. The business’s quarterly revenue was up 15.8% compared to the same quarter last year. As a group, equities research analysts expect that Glaukos Co. will post -2.2 earnings per share for the current year.

Insider Activity at Glaukos

In other news, CFO Alex R. Thurman sold 442 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $105.69, for a total value of $46,714.98. Following the transaction, the chief financial officer now owns 52,090 shares of the company’s stock, valued at $5,505,392.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Alex R. Thurman sold 442 shares of the stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $105.69, for a total value of $46,714.98. Following the completion of the sale, the chief financial officer now directly owns 52,090 shares of the company’s stock, valued at $5,505,392.10. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Alex R. Thurman sold 474 shares of Glaukos stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $90.37, for a total transaction of $42,835.38. Following the transaction, the chief financial officer now owns 54,916 shares in the company, valued at approximately $4,962,758.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 230,544 shares of company stock worth $21,767,497. Corporate 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.