Wealth Alliance Lowers Holdings in Glaukos Co. (NYSE:GKOS)

Wealth Alliance trimmed its stake in shares of Glaukos Co. (NYSE:GKOS) by 23.4% during the 4th quarter, Holdings Channel reports. The fund owned 1,606 shares of the medical instruments supplier’s stock after selling 490 shares during the quarter. Wealth Alliance’s holdings in Glaukos were worth $241,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of GKOS. Wellington Management Group LLP boosted its position in Glaukos by 294.5% in the 3rd quarter. Wellington Management Group LLP now owns 2,183,766 shares of the medical instruments supplier’s stock worth $284,501,000 after purchasing an additional 1,630,270 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Glaukos by 47.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 641,761 shares of the medical instruments supplier’s stock valued at $83,609,000 after purchasing an additional 207,338 shares during the period. Loomis Sayles & Co. L P boosted its holdings in Glaukos by 21.6% during the third quarter. Loomis Sayles & Co. L P now owns 673,751 shares of the medical instruments supplier’s stock worth $87,776,000 after buying an additional 119,527 shares in the last quarter. State Street Corp boosted its holdings in Glaukos by 5.3% during the third quarter. State Street Corp now owns 1,954,449 shares of the medical instruments supplier’s stock worth $254,626,000 after buying an additional 98,109 shares in the last quarter. Finally, First Turn Management LLC acquired a new stake in Glaukos during the third quarter valued at $12,520,000. 99.04% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GKOS has been the topic of several recent analyst reports. BTIG Research increased their target price on shares of Glaukos from $140.00 to $149.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. UBS Group assumed coverage on Glaukos in a report on Friday, December 6th. They issued a “buy” rating and a $182.00 price target for the company. Morgan Stanley lowered Glaukos from an “equal weight” rating to an “underweight” rating and set a $120.00 price objective on the stock. in a report on Monday, December 2nd. JPMorgan Chase & Co. upped their target price on Glaukos from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Finally, Needham & Company LLC lifted their price target on shares of Glaukos from $149.00 to $176.00 and gave the company a “buy” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Glaukos has an average rating of “Moderate Buy” and an average price target of $163.25.

Glaukos Trading Down 19.9 %

Shares of GKOS opened at $126.03 on Friday. Glaukos Co. has a 52-week low of $83.90 and a 52-week high of $163.71. The stock has a market cap of $6.95 billion, a PE ratio of -43.91 and a beta of 1.04. The firm’s fifty day moving average is $152.75 and its two-hundred day moving average is $139.41. The company has a quick ratio of 4.71, a current ratio of 5.54 and a debt-to-equity ratio of 0.19.

Glaukos (NYSE:GKOS) last posted its quarterly earnings results on Thursday, February 20th. The medical instruments supplier reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.02). The business had revenue of $105.50 million for the quarter, compared to analyst estimates of $100.72 million. Glaukos had a negative return on equity of 16.53% and a negative net margin of 39.04%. Research analysts forecast that Glaukos Co. will post -1.08 earnings per share for the current fiscal year.

Insider Transactions at Glaukos

In other news, Director Gilbert H. Kliman sold 2,000 shares of Glaukos stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $144.01, for a total transaction of $288,020.00. Following the transaction, the director now owns 32,336 shares in the company, valued at $4,656,707.36. The trade was a 5.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Joseph E. Gilliam sold 3,328 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $149.85, for a total transaction of $498,700.80. Following the completion of the sale, the chief operating officer now directly owns 102,169 shares of the company’s stock, valued at $15,310,024.65. This represents a 3.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,744 shares of company stock worth $2,792,151 in the last ninety days. Insiders own 6.40% of the company’s stock.

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.