Allianz Asset Management GmbH Sells 5,374 Shares of Glaukos Corporation $GKOS

Allianz Asset Management GmbH cut its position in Glaukos Corporation (NYSE:GKOS) by 8.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,654 shares of the medical instruments supplier’s stock after selling 5,374 shares during the quarter. Allianz Asset Management GmbH’s holdings in Glaukos were worth $4,783,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GKOS. State Street Corp lifted its position in shares of Glaukos by 5.3% during the 2nd quarter. State Street Corp now owns 2,090,365 shares of the medical instruments supplier’s stock valued at $215,914,000 after acquiring an additional 105,972 shares during the period. Ameriprise Financial Inc. raised its stake in Glaukos by 3.5% in the second quarter. Ameriprise Financial Inc. now owns 1,999,252 shares of the medical instruments supplier’s stock valued at $206,503,000 after purchasing an additional 68,497 shares in the last quarter. Primecap Management Co. CA lifted its position in Glaukos by 50.0% during the second quarter. Primecap Management Co. CA now owns 1,827,998 shares of the medical instruments supplier’s stock worth $188,814,000 after purchasing an additional 609,523 shares during the period. Geode Capital Management LLC lifted its position in Glaukos by 9.5% during the second quarter. Geode Capital Management LLC now owns 1,330,593 shares of the medical instruments supplier’s stock worth $137,454,000 after purchasing an additional 115,529 shares during the period. Finally, Westfield Capital Management Co. LP grew its stake in Glaukos by 7.7% during the second quarter. Westfield Capital Management Co. LP now owns 1,167,853 shares of the medical instruments supplier’s stock worth $120,628,000 after buying an additional 83,669 shares in the last quarter. 99.04% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on GKOS shares. Wells Fargo & Company upped their price target on shares of Glaukos from $120.00 to $122.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Citigroup upped their target price on Glaukos from $113.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. UBS Group lifted their price target on Glaukos from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, December 23rd. Wall Street Zen upgraded Glaukos from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Truist Financial lifted their target price on Glaukos from $120.00 to $145.00 and gave the company a “buy” rating in a research report on Thursday, December 18th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Glaukos has a consensus rating of “Moderate Buy” and a consensus price target of $132.54.

Glaukos Price Performance

Shares of NYSE:GKOS opened at $112.80 on Wednesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.47 and a current ratio of 5.20. Glaukos Corporation has a 52 week low of $73.16 and a 52 week high of $161.78. The firm has a market cap of $6.48 billion, a PE ratio of -73.25 and a beta of 0.70. The firm’s fifty day moving average is $114.63 and its 200-day moving average is $97.73.

Insider Transactions at Glaukos

In other Glaukos news, COO Joseph E. Gilliam sold 10,498 shares of the business’s stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $127.68, for a total value of $1,340,384.64. Following the transaction, the chief operating officer directly owned 92,366 shares of the company’s stock, valued at approximately $11,793,290.88. The trade was a 10.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Thomas William Burns sold 186,945 shares of the firm’s stock in a transaction on Friday, January 16th. The stock was sold at an average price of $115.00, for a total transaction of $21,498,675.00. Following the completion of the sale, the chief executive officer owned 153,775 shares of the company’s stock, valued at $17,684,125. The trade was a 54.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 329,655 shares of company stock worth $37,752,234. 6.40% of the stock is currently owned by insiders.

Glaukos Profile

Glaukos Corporation is a medical technology company specializing in the development, manufacturing and commercialization of innovative therapies for patients with glaucoma and other chronic eye diseases. The company’s core offerings focus on micro-invasive glaucoma surgery (MIGS), designed to reduce intraocular pressure and manage glaucoma more safely and effectively than traditional surgical approaches. Glaukos’s flagship products include the iStent, iStent inject and iStent infinite trabecular micro-bypass stents, which are implanted during cataract surgery to improve aqueous outflow and help control eye pressure.

Beyond its MIGS portfolio, Glaukos has expanded into sustained drug-delivery solutions.