Elevation Point Wealth Partners LLC Boosts Position in Glaukos Co. (NYSE:GKOS)

Elevation Point Wealth Partners LLC lifted its stake in shares of Glaukos Co. (NYSE:GKOS) by 78.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,221 shares of the medical instruments supplier’s stock after acquiring an additional 1,413 shares during the period. Elevation Point Wealth Partners LLC’s holdings in Glaukos were worth $317,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of GKOS. Empowered Funds LLC purchased a new position in shares of Glaukos during the 4th quarter worth $236,000. Rhumbline Advisers raised its holdings in shares of Glaukos by 0.3% during the 4th quarter. Rhumbline Advisers now owns 141,790 shares of the medical instruments supplier’s stock worth $21,260,000 after acquiring an additional 403 shares during the period. Congress Asset Management Co. purchased a new position in shares of Glaukos during the 4th quarter worth $219,000. State of New Jersey Common Pension Fund D raised its holdings in shares of Glaukos by 2.4% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 19,883 shares of the medical instruments supplier’s stock worth $2,981,000 after acquiring an additional 465 shares during the period. Finally, CIBC Asset Management Inc purchased a new position in shares of Glaukos during the 4th quarter worth $227,000. Hedge funds and other institutional investors own 99.04% of the company’s stock.

Glaukos Stock Up 2.8%

GKOS stock opened at $100.33 on Tuesday. The company’s 50 day moving average price is $93.13 and its 200 day moving average price is $119.36. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.71 and a current ratio of 5.54. Glaukos Co. has a fifty-two week low of $77.10 and a fifty-two week high of $163.71. The firm has a market capitalization of $5.73 billion, a price-to-earnings ratio of -34.96 and a beta of 0.80.

Glaukos (NYSE:GKOS) last released its earnings results on Wednesday, April 30th. The medical instruments supplier reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.11. Glaukos had a negative net margin of 39.04% and a negative return on equity of 16.53%. The firm had revenue of $106.66 million for the quarter, compared to analyst estimates of $102.78 million. During the same period in the prior year, the firm earned ($0.70) earnings per share. The business’s quarterly revenue was up 24.6% compared to the same quarter last year. On average, equities research analysts anticipate that Glaukos Co. will post -1.08 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Truist Financial restated a “buy” rating and issued a $135.00 price objective (down from $140.00) on shares of Glaukos in a report on Thursday, May 1st. Stifel Nicolaus reduced their price objective on shares of Glaukos from $140.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Needham & Company LLC reduced their price objective on shares of Glaukos from $176.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Mizuho reduced their price objective on shares of Glaukos from $200.00 to $175.00 and set an “outperform” rating on the stock in a report on Wednesday, April 16th. Finally, Morgan Stanley reduced their price objective on shares of Glaukos from $110.00 to $72.00 and set an “underweight” rating on the stock in a report on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Glaukos presently has an average rating of “Moderate Buy” and a consensus target price of $134.67.

Insider Buying and Selling

In related news, CFO Alex R. Thurman sold 1,520 shares of the company’s stock in a transaction that occurred on Tuesday, March 25th. The shares were 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 approximately $5,708,568.04. This represents a 2.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.80% of the company’s stock.

Glaukos Company 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.