Strs Ohio Reduces Stock Position in Glaukos Co. (NYSE:GKOS)

Strs Ohio lowered its stake in shares of Glaukos Co. (NYSE:GKOS) by 42.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,000 shares of the medical instruments supplier’s stock after selling 1,500 shares during the period. Strs Ohio’s holdings in Glaukos were worth $158,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Natixis Advisors L.P. raised its holdings in Glaukos by 4.0% in the 3rd quarter. Natixis Advisors L.P. now owns 33,979 shares of the medical instruments supplier’s stock valued at $2,557,000 after buying an additional 1,298 shares during the period. Charles Schwab Investment Management Inc. raised its position in Glaukos by 5.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 386,790 shares of the medical instruments supplier’s stock valued at $29,106,000 after purchasing an additional 20,415 shares during the period. Lisanti Capital Growth LLC acquired a new position in Glaukos during the third quarter worth $6,367,000. Louisiana State Employees Retirement System purchased a new stake in shares of Glaukos in the 4th quarter valued at $1,940,000. Finally, Invesco Ltd. lifted its stake in Glaukos by 45.5% during the 3rd quarter. Invesco Ltd. now owns 1,450,033 shares of the medical instruments supplier’s stock worth $109,115,000 after acquiring an additional 453,756 shares in the last quarter. 99.04% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. StockNews.com lowered shares of Glaukos from a “hold” rating to a “sell” rating in a research note on Tuesday, February 27th. Mizuho boosted their price target on shares of Glaukos from $85.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Wells Fargo & Company increased their price objective on Glaukos from $83.00 to $103.00 and gave the company an “overweight” rating in a research note on Thursday, February 22nd. Citigroup increased their price target on Glaukos from $107.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, March 25th. Finally, Needham & Company LLC boosted their price objective on Glaukos from $105.00 to $108.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $99.80.

Glaukos Stock Performance

Shares of Glaukos stock opened at $96.06 on Wednesday. The firm has a market capitalization of $4.82 billion, a P/E ratio of -34.55 and a beta of 1.08. The company has a quick ratio of 4.78, a current ratio of 5.34 and a debt-to-equity ratio of 0.77. Glaukos Co. has a 52 week low of $45.38 and a 52 week high of $103.66. The firm’s 50 day moving average is $92.59 and its two-hundred day moving average is $82.32.

Glaukos (NYSE:GKOS) last announced its quarterly earnings results on Wednesday, February 21st. The medical instruments supplier reported ($0.63) EPS for the quarter, missing the consensus estimate of ($0.56) by ($0.07). The company had revenue of $82.40 million for the quarter, compared to analyst estimates of $81.00 million. Glaukos had a negative return on equity of 22.67% and a negative net margin of 42.79%. Glaukos’s revenue was up 15.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.53) earnings per share. Research analysts forecast that Glaukos Co. will post -2.18 EPS for the current fiscal year.

Insider Activity at Glaukos

In other Glaukos news, COO Joseph E. Gilliam sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $96.07, for a total value of $480,350.00. Following the completion of the sale, the chief operating officer now owns 119,802 shares in the company, valued at $11,509,378.14. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Glaukos news, COO Joseph E. Gilliam sold 5,000 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $96.07, for a total transaction of $480,350.00. Following the transaction, the chief operating officer now directly owns 119,802 shares of the company’s stock, valued at approximately $11,509,378.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark J. Foley sold 4,560 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $92.87, for a total transaction of $423,487.20. Following the completion of the sale, the director now directly owns 33,220 shares of the company’s stock, valued at $3,085,141.40. The disclosure for this sale can be found here. Insiders sold a total of 232,881 shares of company stock valued at $21,965,491 in the last three months. 6.40% of the stock is currently owned by company insiders.

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.