UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Trims Stake in Glaukos Co. (NYSE:GKOS)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its position in Glaukos Co. (NYSE:GKOS) by 1.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 134,437 shares of the medical instruments supplier’s stock after selling 2,582 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.24% of Glaukos worth $17,514,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Public Sector Pension Investment Board increased its position in shares of Glaukos by 5.1% during the third quarter. Public Sector Pension Investment Board now owns 116,605 shares of the medical instruments supplier’s stock worth $15,191,000 after acquiring an additional 5,700 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Glaukos by 2.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,956 shares of the medical instruments supplier’s stock worth $1,427,000 after acquiring an additional 231 shares during the period. Cynosure Group LLC purchased a new position in shares of Glaukos during the third quarter worth approximately $372,000. BNP Paribas Financial Markets increased its position in shares of Glaukos by 186.9% during the third quarter. BNP Paribas Financial Markets now owns 13,726 shares of the medical instruments supplier’s stock worth $1,788,000 after acquiring an additional 8,942 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in shares of Glaukos by 2.3% during the third quarter. The Manufacturers Life Insurance Company now owns 28,343 shares of the medical instruments supplier’s stock worth $3,693,000 after acquiring an additional 632 shares during the period. 99.04% of the stock is owned by hedge funds and other institutional investors.

Glaukos Price Performance

Shares of GKOS opened at $140.28 on Friday. The company has a market cap of $7.74 billion, a price-to-earnings ratio of -46.45 and a beta of 1.03. Glaukos Co. has a twelve month low of $59.58 and a twelve month high of $146.86. The company has a quick ratio of 4.71, a current ratio of 5.54 and a debt-to-equity ratio of 0.19. The company has a 50 day moving average of $135.17 and a two-hundred day moving average of $125.72.

Glaukos (NYSE:GKOS) last announced its earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.48) by $0.20. The company had revenue of $96.70 million during the quarter, compared to the consensus estimate of $91.50 million. Glaukos had a negative net margin of 42.43% and a negative return on equity of 18.99%. Glaukos’s revenue was up 23.9% compared to the same quarter last year. During the same period last year, the firm earned ($0.50) earnings per share. As a group, analysts predict that Glaukos Co. will post -1.91 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Glaukos news, COO Joseph E. Gilliam sold 2,275 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $138.97, for a total value of $316,156.75. Following the completion of the transaction, the chief operating officer now owns 102,169 shares of the company’s stock, valued at approximately $14,198,425.93. This trade represents a 2.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Gilbert H. Kliman sold 3,000 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $130.67, for a total transaction of $392,010.00. Following the completion of the transaction, the director now directly owns 32,336 shares of the company’s stock, valued at approximately $4,225,345.12. This represents a 8.49 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 6.40% of the company’s stock.

Analysts Set New Price Targets

GKOS has been the topic of a number of research reports. Truist Financial raised their target price on shares of Glaukos from $145.00 to $152.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Stephens upgraded shares of Glaukos to a “strong-buy” rating in a research note on Monday, December 2nd. JPMorgan Chase & Co. increased their price objective on shares of Glaukos from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. BTIG Research increased their price objective on shares of Glaukos from $140.00 to $149.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Morgan Stanley downgraded shares of Glaukos from an “equal weight” rating to an “underweight” rating and set a $120.00 price objective on the stock. in a research note on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $140.00.

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.