Cwm LLC Decreases Holdings in Glaukos Co. (NYSE:GKOS)

Cwm LLC decreased its holdings in Glaukos Co. (NYSE:GKOS) by 38.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 854 shares of the medical instruments supplier’s stock after selling 530 shares during the period. Cwm LLC’s holdings in Glaukos were worth $68,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Natixis Advisors L.P. boosted its stake in shares of Glaukos by 4.0% during the third quarter. Natixis Advisors L.P. now owns 33,979 shares of the medical instruments supplier’s stock valued at $2,557,000 after purchasing an additional 1,298 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Glaukos by 5.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 386,790 shares of the medical instruments supplier’s stock valued at $29,106,000 after buying an additional 20,415 shares during the period. Lisanti Capital Growth LLC bought a new stake in Glaukos in the 3rd quarter worth $6,367,000. Louisiana State Employees Retirement System purchased a new position in shares of Glaukos in the fourth quarter valued at about $1,940,000. Finally, Strs Ohio raised its stake in shares of Glaukos by 45.8% during the third quarter. Strs Ohio now owns 3,500 shares of the medical instruments supplier’s stock valued at $263,000 after acquiring an additional 1,100 shares during the last quarter. Institutional investors own 99.04% of the company’s stock.

Insider Buying and Selling at Glaukos

In related news, COO Joseph E. Gilliam sold 140,245 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $92.14, for a total transaction of $12,922,174.30. Following the completion of the sale, the chief operating officer now owns 98,388 shares of the company’s stock, valued at $9,065,470.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, COO Joseph E. Gilliam sold 140,245 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $92.14, for a total transaction of $12,922,174.30. Following the sale, the chief operating officer now directly owns 98,388 shares of the company’s stock, valued at $9,065,470.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mark J. Foley sold 4,560 shares of Glaukos stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $92.87, for a total value of $423,487.20. Following the completion of the sale, the director now owns 33,220 shares of the company’s stock, valued at $3,085,141.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 230,544 shares of company stock worth $21,767,497. 6.40% of the stock is owned by corporate insiders.

Glaukos Stock Performance

Shares of GKOS opened at $106.91 on Thursday. Glaukos Co. has a 52 week low of $54.38 and a 52 week high of $110.73. The company has a quick ratio of 4.68, a current ratio of 5.38 and a debt-to-equity ratio of 0.78. The stock has a market cap of $5.38 billion, a P/E ratio of -37.12 and a beta of 1.08. The business’s 50 day moving average price is $94.28 and its 200-day moving average price is $83.79.

Glaukos (NYSE:GKOS) last released its earnings results on Wednesday, May 1st. The medical instruments supplier reported ($0.70) EPS for the quarter, missing the consensus estimate of ($0.58) by ($0.12). The company had revenue of $85.60 million during the quarter, compared to the consensus estimate of $79.60 million. Glaukos had a negative return on equity of 24.69% and a negative net margin of 43.15%. The company’s revenue was up 15.8% compared to the same quarter last year. During the same period last year, the firm posted ($0.59) earnings per share. Equities research analysts anticipate that Glaukos Co. will post -2.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on GKOS shares. Citigroup boosted their price target on Glaukos from $107.00 to $120.00 and gave the company a “buy” rating in a report on Monday, March 25th. StockNews.com downgraded Glaukos from a “hold” rating to a “sell” rating in a report on Tuesday, February 27th. Stifel Nicolaus reiterated a “buy” rating and issued a $110.00 price target on shares of Glaukos in a report on Wednesday, April 3rd. BTIG Research raised their target price on shares of Glaukos from $107.00 to $112.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Finally, Truist Financial reiterated a “buy” rating and set a $125.00 price target (up previously from $120.00) on shares of Glaukos in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $108.64.

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.