Granite Investment Partners LLC Invests $1.48 Million in Glaukos Corporation (NYSE:GKOS)

Granite Investment Partners LLC acquired a new position in Glaukos Corporation (NYSE:GKOS) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 44,911 shares of the medical instruments supplier’s stock, valued at approximately $1,482,000. Granite Investment Partners LLC owned approximately 0.13% of Glaukos at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of GKOS. FMR LLC bought a new position in Glaukos in the 1st quarter worth $7,323,000. Teachers Advisors LLC boosted its holdings in Glaukos by 6.2% in the 1st quarter. Teachers Advisors LLC now owns 29,512 shares of the medical instruments supplier’s stock worth $1,514,000 after buying an additional 1,723 shares during the period. California Public Employees Retirement System bought a new position in Glaukos in the 1st quarter worth $390,000. Vanguard Group Inc. boosted its holdings in shares of Glaukos by 17.6% during the 1st quarter. Vanguard Group Inc. now owns 1,612,838 shares of the medical instruments supplier’s stock valued at $82,739,000 after purchasing an additional 241,772 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Glaukos by 15.3% during the 1st quarter. Geode Capital Management LLC now owns 100,987 shares of the medical instruments supplier’s stock valued at $5,180,000 after purchasing an additional 13,432 shares during the last quarter. Hedge funds and other institutional investors own 99.23% of the company’s stock.

Glaukos Corporation (NYSE:GKOS) traded up $0.43 during trading on Thursday, reaching $25.96. 769,099 shares of the company were exchanged, compared to its average volume of 640,715. Glaukos Corporation has a 12 month low of $23.44 and a 12 month high of $52.49. The stock has a market cap of $883.15, a price-to-earnings ratio of 212.92 and a beta of 1.02.

Glaukos (NYSE:GKOS) last posted its quarterly earnings data on Tuesday, November 7th. The medical instruments supplier reported $0.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.06. Glaukos had a negative net margin of 0.64% and a positive return on equity of 3.50%. The company had revenue of $40.41 million for the quarter, compared to analyst estimates of $38.69 million. During the same period in the prior year, the company posted $0.03 EPS. The firm’s revenue for the quarter was up 36.6% on a year-over-year basis. equities research analysts forecast that Glaukos Corporation will post -0.03 EPS for the current fiscal year.

In related news, CFO Joseph E. Gilliam bought 2,100 shares of Glaukos stock in a transaction dated Wednesday, November 22nd. The shares were acquired at an average cost of $23.84 per share, with a total value of $50,064.00. Following the completion of the transaction, the chief financial officer now owns 102,100 shares in the company, valued at approximately $2,434,064. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 16.40% of the company’s stock.

Several research firms have commented on GKOS. BidaskClub raised shares of Glaukos from a “hold” rating to a “buy” rating in a report on Tuesday, September 12th. Cantor Fitzgerald reissued a “buy” rating and set a $60.00 price objective (up previously from $54.00) on shares of Glaukos in a report on Thursday, September 14th. BMO Capital Markets reissued a “buy” rating and set a $54.00 price objective on shares of Glaukos in a report on Friday, September 1st. Stephens reissued a “buy” rating and set a $47.00 price objective on shares of Glaukos in a report on Friday, September 15th. Finally, Piper Jaffray Companies restated a “buy” rating and set a $38.00 target price on shares of Glaukos in a research report on Friday, September 15th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $46.57.

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Glaukos Profile

Glaukos Corporation is an ophthalmic medical technology company. The Company focuses on the development and commercialization of products and procedures for the treatment of glaucoma. It offers iStent, a micro-invasive glaucoma surgery (MIGS) device. The iStent is a micro-bypass stent inserted through the small corneal incision made during cataract surgery and placed into Schlemm’s canal, a circular channel in the eye that collects aqueous humor and delivers it back into the bloodstream.

Institutional Ownership by Quarter for Glaukos (NYSE:GKOS)

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