Procyon Advisors LLC Lowers Stock Position in Glaukos Co. (NYSE:GKOS)

Procyon Advisors LLC reduced its position in Glaukos Co. (NYSE:GKOS) by 6.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,510 shares of the medical instruments supplier’s stock after selling 100 shares during the quarter. Procyon Advisors LLC’s holdings in Glaukos were worth $226,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GKOS. Harbor Capital Advisors Inc. purchased a new position in shares of Glaukos in the 4th quarter worth about $3,679,000. GAMMA Investing LLC raised its holdings in Glaukos by 28.3% in the fourth quarter. GAMMA Investing LLC now owns 2,213 shares of the medical instruments supplier’s stock valued at $332,000 after buying an additional 488 shares during the period. Exome Asset Management LLC acquired a new position in Glaukos during the third quarter valued at approximately $3,369,000. Franklin Resources Inc. grew its stake in Glaukos by 80.1% during the third quarter. Franklin Resources Inc. now owns 15,621 shares of the medical instruments supplier’s stock worth $2,031,000 after buying an additional 6,948 shares during the period. Finally, Tidal Investments LLC increased its position in shares of Glaukos by 83.1% in the third quarter. Tidal Investments LLC now owns 14,908 shares of the medical instruments supplier’s stock worth $1,942,000 after acquiring an additional 6,767 shares in the last quarter. Institutional investors and hedge funds own 99.04% of the company’s stock.

Glaukos Trading Up 0.1 %

Shares of GKOS opened at $156.60 on Monday. The company has a current ratio of 5.54, a quick ratio of 4.71 and a debt-to-equity ratio of 0.19. Glaukos Co. has a 1-year low of $83.90 and a 1-year high of $161.13. The stock has a market capitalization of $8.63 billion, a P/E ratio of -51.85 and a beta of 1.04. The business’s 50-day moving average price is $145.94 and its 200 day moving average price is $133.60.

Glaukos (NYSE:GKOS) last issued its quarterly earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.20. Glaukos had a negative return on equity of 18.99% and a negative net margin of 42.43%. The business had revenue of $96.70 million for the quarter, compared to the consensus estimate of $91.50 million. During the same quarter in the previous year, the company posted ($0.50) earnings per share. Glaukos’s revenue for the quarter was up 23.9% compared to the same quarter last year. Analysts expect that Glaukos Co. will post -1.89 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. BTIG Research raised their price objective on Glaukos from $140.00 to $149.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Morgan Stanley downgraded Glaukos from an “equal weight” rating to an “underweight” rating and set a $120.00 target price on the stock. in a report 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 report on Tuesday, November 5th. Stifel Nicolaus upped their target price on shares of Glaukos from $153.00 to $175.00 and gave the company a “buy” rating in a research note on Tuesday, December 31st. Finally, Wells Fargo & Company lifted their price target on shares of Glaukos from $145.00 to $153.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. One analyst has rated the stock with a sell rating, two have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $147.75.

Insider Transactions at Glaukos

In related news, COO Joseph E. Gilliam sold 2,275 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $138.97, for a total transaction 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. The trade was a 2.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gilbert H. Kliman sold 2,000 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $144.01, for a total value of $288,020.00. Following the completion of the sale, the director now directly owns 32,336 shares of the company’s stock, valued at $4,656,707.36. This represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,603 shares of company stock worth $2,605,678 in the last 90 days. 6.40% of the stock is owned by insiders.

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.