DNB Asset Management AS Boosts Stock Position in Glaukos Corporation $GKOS

DNB Asset Management AS grew its position in Glaukos Corporation (NYSE:GKOS) by 28.4% during the third quarter, Holdings Channel reports. The firm owned 73,550 shares of the medical instruments supplier’s stock after acquiring an additional 16,267 shares during the period. DNB Asset Management AS’s holdings in Glaukos were worth $5,998,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of GKOS. Westfield Capital Management Co. LP boosted its position in Glaukos by 5.5% in the third quarter. Westfield Capital Management Co. LP now owns 1,231,641 shares of the medical instruments supplier’s stock valued at $100,440,000 after buying an additional 63,788 shares during the last quarter. Primecap Management Co. CA raised its position in Glaukos by 23.3% during the 3rd quarter. Primecap Management Co. CA now owns 2,253,788 shares of the medical instruments supplier’s stock worth $183,796,000 after buying an additional 425,790 shares during the last quarter. Intech Investment Management LLC lifted its stake in Glaukos by 1.6% during the 3rd quarter. Intech Investment Management LLC now owns 50,095 shares of the medical instruments supplier’s stock valued at $4,085,000 after acquiring an additional 779 shares during the period. US Bancorp DE boosted its holdings in shares of Glaukos by 20.6% in the 3rd quarter. US Bancorp DE now owns 8,141 shares of the medical instruments supplier’s stock valued at $664,000 after acquiring an additional 1,389 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Glaukos in the 3rd quarter valued at $1,004,000. Institutional investors and hedge funds own 99.04% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on GKOS shares. Citigroup boosted their target price on shares of Glaukos from $113.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Wall Street Zen lowered Glaukos from a “buy” rating to a “hold” rating in a research note on Saturday, February 21st. Stifel Nicolaus upped their target price on Glaukos from $115.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Stephens raised their target price on Glaukos from $115.00 to $145.00 and gave the stock an “overweight” rating in a report on Friday, January 2nd. Finally, Wells Fargo & Company boosted their price target on Glaukos from $122.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, February 18th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Glaukos presently has an average rating of “Moderate Buy” and an average target price of $133.69.

Insider Buying and Selling at Glaukos

In other news, Director Gilbert H. Kliman sold 5,000 shares of the stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $107.27, for a total transaction of $536,350.00. Following the transaction, the director owned 34,905 shares in the company, valued at $3,744,259.35. This trade represents a 12.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Joseph E. Gilliam sold 10,498 shares of Glaukos stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $127.68, for a total transaction of $1,340,384.64. Following the completion of the sale, the chief operating officer directly owned 92,366 shares in the company, valued at $11,793,290.88. This represents a 10.21% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 325,000 shares of company stock worth $37,739,259. 6.40% of the stock is currently owned by corporate insiders.

Glaukos Trading Down 1.2%

GKOS stock opened at $120.01 on Monday. Glaukos Corporation has a 52-week low of $73.16 and a 52-week high of $130.23. The company has a quick ratio of 4.06, a current ratio of 4.69 and a debt-to-equity ratio of 0.10. The firm has a market cap of $6.97 billion, a P/E ratio of -36.81 and a beta of 0.70. The company’s 50-day simple moving average is $116.00 and its 200-day simple moving average is $100.15.

Glaukos (NYSE:GKOS) last released its quarterly earnings results on Tuesday, February 17th. The medical instruments supplier reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.06). The business had revenue of $143.12 million during the quarter, compared to analyst estimates of $132.16 million. Glaukos had a negative return on equity of 7.00% and a negative net margin of 36.99%.The business’s revenue for the quarter was up 35.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.40) EPS. As a group, equities analysts forecast that Glaukos Corporation will post -1.08 EPS for the current fiscal year.

About Glaukos

Glaukos Corporation is a medical technology company specializing in the development, manufacturing and commercialization of innovative therapies for patients with glaucoma and other chronic eye diseases. The company’s core offerings focus on micro-invasive glaucoma surgery (MIGS), designed to reduce intraocular pressure and manage glaucoma more safely and effectively than traditional surgical approaches. Glaukos’s flagship products include the iStent, iStent inject and iStent infinite trabecular micro-bypass stents, which are implanted during cataract surgery to improve aqueous outflow and help control eye pressure.

Beyond its MIGS portfolio, Glaukos has expanded into sustained drug-delivery solutions.