SG Americas Securities LLC Sells 48,786 Shares of Glaukos Corporation $GKOS

SG Americas Securities LLC trimmed its holdings in Glaukos Corporation (NYSE:GKOS) by 81.0% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 11,446 shares of the medical instruments supplier’s stock after selling 48,786 shares during the period. SG Americas Securities LLC’s holdings in Glaukos were worth $1,232,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Smartleaf Asset Management LLC increased its holdings in shares of Glaukos by 9.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,383 shares of the medical instruments supplier’s stock worth $158,000 after acquiring an additional 122 shares during the last quarter. Larson Financial Group LLC raised its stake in Glaukos by 62.0% in the 4th quarter. Larson Financial Group LLC now owns 345 shares of the medical instruments supplier’s stock valued at $39,000 after acquiring an additional 132 shares during the period. CWM LLC lifted its holdings in Glaukos by 25.2% during the 4th quarter. CWM LLC now owns 710 shares of the medical instruments supplier’s stock valued at $80,000 after purchasing an additional 143 shares during the last quarter. Commonwealth Equity Services LLC lifted its holdings in Glaukos by 1.7% during the 4th quarter. Commonwealth Equity Services LLC now owns 8,383 shares of the medical instruments supplier’s stock valued at $947,000 after purchasing an additional 144 shares during the last quarter. Finally, Evergreen Capital Management LLC boosted its position in Glaukos by 4.3% during the fourth quarter. Evergreen Capital Management LLC now owns 3,549 shares of the medical instruments supplier’s stock worth $401,000 after purchasing an additional 145 shares during the period. 99.04% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Glaukos

In related news, Director Gilbert H. Kliman sold 5,000 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $140.76, for a total transaction of $703,800.00. Following the transaction, the director directly owned 35,528 shares of the company’s stock, valued at approximately $5,000,921.28. This trade represents a 12.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Joseph E. Gilliam sold 19,573 shares of Glaukos stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $143.54, for a total transaction of $2,809,508.42. Following the completion of the sale, the chief operating officer owned 73,419 shares of the company’s stock, valued at $10,538,563.26. This trade represents a 21.05% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 41,273 shares of company stock worth $5,832,003. Insiders own 5.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. BTIG Research reiterated a “buy” rating and issued a $162.00 price objective on shares of Glaukos in a report on Wednesday, June 10th. Wall Street Zen upgraded shares of Glaukos from a “hold” rating to a “buy” rating in a research note on Saturday. JPMorgan Chase & Co. lifted their target price on shares of Glaukos from $120.00 to $140.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Wells Fargo & Company upped their price target on shares of Glaukos from $135.00 to $138.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Finally, Needham & Company LLC upped their price target on shares of Glaukos from $136.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, June 17th. Twelve research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $149.17.

Glaukos Stock Performance

GKOS opened at $147.49 on Friday. The business has a fifty day simple moving average of $129.31 and a 200 day simple moving average of $119.35. The company has a market capitalization of $8.66 billion, a PE ratio of -44.97 and a beta of 0.75. Glaukos Corporation has a 1 year low of $73.16 and a 1 year high of $148.62. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.43 and a quick ratio of 4.73.

Glaukos (NYSE:GKOS) last issued its quarterly earnings data on Wednesday, April 29th. The medical instruments supplier reported ($0.18) EPS for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.12. The firm had revenue of $150.57 million for the quarter, compared to analyst estimates of $137.00 million. Glaukos had a negative return on equity of 6.92% and a negative net margin of 34.34%.The company’s revenue for the quarter was up 41.2% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.22) EPS. Research analysts expect that Glaukos Corporation will post -0.57 EPS for the current year.

Glaukos Company Profile

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.