Allspring Global Investments Holdings LLC Has $48.81 Million Stock Position in Glaukos Co. (NYSE:GKOS)

Allspring Global Investments Holdings LLC boosted its holdings in shares of Glaukos Co. (NYSE:GKOS) by 148.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 412,376 shares of the medical instruments supplier’s stock after acquiring an additional 246,322 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Glaukos were worth $48,805,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of GKOS. National Bank of Canada FI acquired a new position in Glaukos in the 4th quarter valued at approximately $46,000. GAMMA Investing LLC acquired a new position in shares of Glaukos in the fourth quarter worth $55,000. Quadrant Capital Group LLC increased its stake in shares of Glaukos by 54.8% in the fourth quarter. Quadrant Capital Group LLC now owns 929 shares of the medical instruments supplier’s stock worth $74,000 after acquiring an additional 329 shares during the last quarter. Caldwell Sutter Capital Inc. raised its holdings in shares of Glaukos by 5,860.0% during the first quarter. Caldwell Sutter Capital Inc. now owns 1,490 shares of the medical instruments supplier’s stock worth $140,000 after acquiring an additional 1,465 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC purchased a new position in Glaukos in the second quarter valued at about $187,000. Hedge funds and other institutional investors own 99.04% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Wells Fargo & Company boosted their price target on Glaukos from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. StockNews.com raised Glaukos from a “sell” rating to a “hold” rating in a research report on Friday, August 2nd. Piper Sandler increased their price objective on Glaukos from $110.00 to $140.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Truist Financial reissued a “buy” rating and issued a $145.00 price objective (up from $141.00) on shares of Glaukos in a research note on Thursday, August 1st. Finally, Stifel Nicolaus upped their target price on Glaukos from $110.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, June 5th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Glaukos has an average rating of “Moderate Buy” and an average price target of $127.73.

Insider Activity at Glaukos

In other Glaukos news, Director Aimee S. Weisner sold 25,000 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $120.00, for a total transaction of $3,000,000.00. Following the transaction, the director now owns 30,119 shares of the company’s stock, valued at approximately $3,614,280. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Marc Stapley sold 6,250 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $125.93, for a total value of $787,062.50. Following the transaction, the director now owns 34,076 shares of the company’s stock, valued at approximately $4,291,190.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Aimee S. Weisner sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $120.00, for a total transaction of $3,000,000.00. Following the sale, the director now directly owns 30,119 shares of the company’s stock, valued at $3,614,280. The disclosure for this sale can be found here. Insiders sold a total of 46,000 shares of company stock valued at $5,550,740 over the last quarter. Corporate insiders own 6.40% of the company’s stock.

Glaukos Stock Performance

Glaukos stock opened at $135.26 on Wednesday. Glaukos Co. has a 52-week low of $59.22 and a 52-week high of $135.63. The company has a debt-to-equity ratio of 0.19, a current ratio of 5.48 and a quick ratio of 4.68. The stock has a fifty day moving average price of $120.96 and a two-hundred day moving average price of $106.96. The firm has a market capitalization of $6.81 billion, a P/E ratio of -46.97 and a beta of 1.05.

Glaukos (NYSE:GKOS) last announced its earnings results on Wednesday, July 31st. The medical instruments supplier reported ($0.52) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.52). The business had revenue of $95.70 million during the quarter, compared to analysts’ expectations of $88.86 million. Glaukos had a negative net margin of 47.39% and a negative return on equity of 22.51%. The firm’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same quarter last year, the company posted ($0.55) EPS. As a group, analysts anticipate that Glaukos Co. will post -2.25 EPS for the current fiscal year.

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.