Exchange Traded Concepts LLC Sells 597 Shares of Glaukos Co. (NYSE:GKOS)

Exchange Traded Concepts LLC lessened its stake in shares of Glaukos Co. (NYSE:GKOS) by 10.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 5,196 shares of the medical instruments supplier’s stock after selling 597 shares during the period. Exchange Traded Concepts LLC’s holdings in Glaukos were worth $779,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. HighTower Advisors LLC increased its position in Glaukos by 3.3% during the 3rd quarter. HighTower Advisors LLC now owns 3,207 shares of the medical instruments supplier’s stock valued at $416,000 after buying an additional 103 shares in the last quarter. Values First Advisors Inc. bought a new stake in shares of Glaukos in the 3rd quarter worth $25,000. New York State Teachers Retirement System increased its holdings in shares of Glaukos by 0.4% in the 3rd quarter. New York State Teachers Retirement System now owns 48,143 shares of the medical instruments supplier’s stock worth $6,272,000 after purchasing an additional 200 shares in the last quarter. KBC Group NV increased its holdings in shares of Glaukos by 16.2% in the 3rd quarter. KBC Group NV now owns 1,445 shares of the medical instruments supplier’s stock worth $188,000 after purchasing an additional 201 shares in the last quarter. Finally, Inspire Investing LLC increased its holdings in shares of Glaukos by 6.9% in the 3rd quarter. Inspire Investing LLC now owns 3,193 shares of the medical instruments supplier’s stock worth $416,000 after purchasing an additional 206 shares in the last quarter. Institutional investors own 99.04% of the company’s stock.

Insider Activity at Glaukos

In other news, COO Joseph E. Gilliam sold 3,328 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $149.85, for a total value of $498,700.80. Following the transaction, the chief operating officer now directly owns 102,169 shares in the company, valued at $15,310,024.65. The trade was a 3.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gilbert H. Kliman sold 10,000 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $150.28, for a total value of $1,502,800.00. Following the completion of the transaction, the director now owns 32,336 shares in the company, valued at $4,859,454.08. The trade was a 23.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,328 shares of company stock worth $2,289,521. Corporate insiders own 6.40% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the company. Wells Fargo & Company lifted their target price on Glaukos from $145.00 to $153.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Truist Financial lifted their target price on Glaukos from $152.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. JPMorgan Chase & Co. lifted their target price on Glaukos from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. UBS Group started coverage on Glaukos in a report on Friday, December 6th. They issued a “buy” rating and a $182.00 target price for the company. Finally, BTIG Research raised their price target on Glaukos from $140.00 to $149.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Glaukos has an average rating of “Moderate Buy” and a consensus target price of $151.08.

Glaukos Price Performance

NYSE GKOS opened at $158.89 on Thursday. The company has a market capitalization of $8.76 billion, a PE ratio of -52.61 and a beta of 1.04. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.71 and a current ratio of 5.54. The business’s fifty day moving average is $148.82 and its 200 day moving average is $135.63. Glaukos Co. has a fifty-two week low of $83.90 and a fifty-two week high of $163.71.

Glaukos (NYSE:GKOS) last released 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 for the quarter, compared to the consensus estimate of $91.50 million. Glaukos had a negative return on equity of 18.99% and a negative net margin of 42.43%. Glaukos’s quarterly revenue was up 23.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.50) earnings per share. Sell-side analysts predict that Glaukos Co. will post -1.89 earnings per share for the current year.

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.