Glaukos Co. (NYSE:GKOS) Position Lifted by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund raised its stake in shares of Glaukos Co. (NYSE:GKOS) by 8.0% during the fourth quarter, HoldingsChannel reports. The fund owned 29,336 shares of the medical instruments supplier’s stock after acquiring an additional 2,166 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Glaukos were worth $2,332,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. Fred Alger Management LLC lifted its position in Glaukos by 9.2% in the 3rd quarter. Fred Alger Management LLC now owns 1,780,690 shares of the medical instruments supplier’s stock valued at $133,997,000 after purchasing an additional 150,102 shares during the last quarter. Invesco Ltd. lifted its position in Glaukos by 45.5% in the 3rd quarter. Invesco Ltd. now owns 1,450,033 shares of the medical instruments supplier’s stock valued at $109,115,000 after purchasing an additional 453,756 shares during the last quarter. Primecap Management Co. CA lifted its position in Glaukos by 3.3% in the 3rd quarter. Primecap Management Co. CA now owns 638,620 shares of the medical instruments supplier’s stock valued at $48,056,000 after purchasing an additional 20,120 shares during the last quarter. Northern Trust Corp increased its stake in Glaukos by 0.5% during the 3rd quarter. Northern Trust Corp now owns 552,317 shares of the medical instruments supplier’s stock valued at $41,562,000 after buying an additional 2,490 shares during the period. Finally, New York State Common Retirement Fund increased its stake in Glaukos by 0.4% during the 4th quarter. New York State Common Retirement Fund now owns 513,029 shares of the medical instruments supplier’s stock valued at $40,781,000 after buying an additional 1,867 shares during the period. 99.04% of the stock is currently owned by institutional investors.

Glaukos Price Performance

NYSE GKOS opened at $100.11 on Friday. Glaukos Co. has a twelve month low of $45.38 and a twelve month high of $103.66. The company has a current ratio of 5.34, a quick ratio of 4.78 and a debt-to-equity ratio of 0.77. The firm’s 50 day moving average price is $92.21 and its two-hundred day moving average price is $81.42.

Glaukos (NYSE:GKOS) last posted 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). Glaukos had a negative net margin of 42.79% and a negative return on equity of 22.67%. The company had revenue of $82.40 million for the quarter, compared to analysts’ expectations of $81.00 million. During the same quarter in the prior year, the firm earned ($0.53) earnings per share. The company’s revenue was up 15.7% on a year-over-year basis. As a group, sell-side analysts forecast that Glaukos Co. will post -2.18 earnings per share for the current year.

Insider Activity

In other news, CFO Alex R. Thurman sold 1,372 shares of the business’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $100.54, for a total transaction of $137,940.88. Following the transaction, the chief financial officer now directly owns 52,532 shares in the company, valued at approximately $5,281,567.28. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CFO Alex R. Thurman sold 1,372 shares of Glaukos stock in a transaction on Monday, April 8th. The shares were sold at an average price of $100.54, for a total value of $137,940.88. Following the completion of the sale, the chief financial officer now owns 52,532 shares of the company’s stock, valued at approximately $5,281,567.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Joseph E. Gilliam sold 9,476 shares of Glaukos stock in a transaction on Monday, January 29th. The shares were sold at an average price of $94.12, for a total transaction of $891,881.12. Following the completion of the sale, the chief operating officer now directly owns 119,802 shares of the company’s stock, valued at approximately $11,275,764.24. The disclosure for this sale can be found here. Insiders have sold a total of 242,357 shares of company stock worth $22,857,372 in the last ninety days. Corporate insiders own 6.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on GKOS shares. Needham & Company LLC raised their target price on shares of Glaukos from $105.00 to $108.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. Stifel Nicolaus reissued a “buy” rating and set a $110.00 target price on shares of Glaukos in a research note on Wednesday, April 3rd. StockNews.com cut shares of Glaukos from a “hold” rating to a “sell” rating in a research note on Tuesday, February 27th. Truist Financial restated a “buy” rating and set a $110.00 target price on shares of Glaukos in a report on Monday, April 8th. Finally, Mizuho raised their target price on shares of Glaukos from $85.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Glaukos currently has a consensus rating of “Moderate Buy” and a consensus price target of $99.80.

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.