Congress Wealth Management LLC DE Lowers Position in Glaukos Co. (NYSE:GKOS)

Congress Wealth Management LLC DE lessened its holdings in shares of Glaukos Co. (NYSE:GKOS) by 22.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,389 shares of the medical instruments supplier’s stock after selling 400 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Glaukos were worth $208,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in Glaukos by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 5,974,971 shares of the medical instruments supplier’s stock valued at $895,887,000 after acquiring an additional 101,838 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Glaukos by 294.5% in the 3rd quarter. Wellington Management Group LLP now owns 2,183,766 shares of the medical instruments supplier’s stock worth $284,501,000 after purchasing an additional 1,630,270 shares in the last quarter. State Street Corp increased its position in shares of Glaukos by 5.3% during the 3rd quarter. State Street Corp now owns 1,954,449 shares of the medical instruments supplier’s stock valued at $254,626,000 after purchasing an additional 98,109 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Glaukos by 6.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,172,016 shares of the medical instruments supplier’s stock valued at $152,722,000 after buying an additional 66,134 shares in the last quarter. Finally, William Blair Investment Management LLC bought a new stake in Glaukos in the 4th quarter worth approximately $121,390,000. Hedge funds and other institutional investors own 99.04% of the company’s stock.

Insider Activity

In related news, CFO Alex R. Thurman sold 1,520 shares of Glaukos stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $106.84, for a total transaction of $162,396.80. Following the sale, the chief financial officer now directly owns 53,431 shares in the company, valued at $5,708,568.04. The trade was a 2.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Tomas Navratil sold 3,416 shares of the company’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $147.14, for a total value of $502,630.24. Following the completion of the sale, the insider now directly owns 72,437 shares in the company, valued at approximately $10,658,380.18. The trade was a 4.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Piper Sandler reiterated an “overweight” rating and set a $180.00 price target (up from $140.00) on shares of Glaukos in a research report on Monday, January 27th. Needham & Company LLC increased their target price on shares of Glaukos from $149.00 to $176.00 and gave the company a “buy” rating in a report on Friday, February 21st. Truist Financial boosted their price target on shares of Glaukos from $152.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Morgan Stanley cut 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. Finally, UBS Group assumed coverage on Glaukos in a research note on Friday, December 6th. They issued a “buy” rating and a $182.00 target price for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven 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 company has a consensus rating of “Moderate Buy” and an average price target of $163.25.

Glaukos Trading Down 1.6 %

GKOS opened at $101.97 on Monday. Glaukos Co. has a one year low of $88.16 and a one year high of $163.71. The company has a debt-to-equity ratio of 0.19, a current ratio of 5.54 and a quick ratio of 4.71. The business has a 50 day simple moving average of $130.52 and a two-hundred day simple moving average of $135.78. The firm has a market capitalization of $5.77 billion, a price-to-earnings ratio of -35.53 and a beta of 0.99.

Glaukos (NYSE:GKOS) last announced its earnings results on Thursday, February 20th. The medical instruments supplier reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.02). The business had revenue of $105.50 million for the quarter, compared to the consensus estimate of $100.72 million. Glaukos had a negative net margin of 39.04% and a negative return on equity of 16.53%. Analysts predict that Glaukos Co. will post -1.08 EPS for the current year.

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.