Harbor Capital Advisors Inc. Invests $3.68 Million in Glaukos Co. (NYSE:GKOS)

Harbor Capital Advisors Inc. acquired a new stake in Glaukos Co. (NYSE:GKOS) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 24,539 shares of the medical instruments supplier’s stock, valued at approximately $3,679,000.

Other large investors have also bought and sold shares of the company. WCM Investment Management LLC raised its position in Glaukos by 45.7% in the 3rd quarter. WCM Investment Management LLC now owns 99,155 shares of the medical instruments supplier’s stock valued at $12,721,000 after buying an additional 31,084 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Glaukos by 186.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 13,726 shares of the medical instruments supplier’s stock worth $1,788,000 after acquiring an additional 8,942 shares in the last quarter. First Turn Management LLC acquired a new stake in shares of Glaukos in the third quarter valued at approximately $12,520,000. Victory Capital Management Inc. lifted its position in shares of Glaukos by 421.8% in the third quarter. Victory Capital Management Inc. now owns 79,211 shares of the medical instruments supplier’s stock worth $10,320,000 after purchasing an additional 64,031 shares in the last quarter. Finally, State Street Corp grew its position in Glaukos by 5.3% in the third quarter. State Street Corp now owns 1,954,449 shares of the medical instruments supplier’s stock valued at $254,626,000 after purchasing an additional 98,109 shares in the last quarter. 99.04% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on GKOS. Morgan Stanley cut shares of Glaukos from an “equal weight” rating to an “underweight” rating and set a $120.00 price target on the stock. in a research report on Monday, December 2nd. Piper Sandler set a $140.00 price target on Glaukos in a research report on Thursday, October 17th. Wells Fargo & Company boosted their price target on Glaukos from $145.00 to $153.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. StockNews.com raised Glaukos from a “sell” rating to a “hold” rating in a report on Monday, October 21st. Finally, Truist Financial boosted their target price on shares of Glaukos from $152.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $147.75.

Glaukos Trading Down 0.7 %

Shares of GKOS stock opened at $156.96 on Friday. Glaukos Co. has a 12-month low of $83.90 and a 12-month high of $161.13. The company has a market capitalization of $8.65 billion, a PE ratio of -51.97 and a beta of 1.04. The firm has a 50 day moving average price of $143.78 and a two-hundred day moving average price of $131.82. 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 released its quarterly earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.48) by $0.20. The business had revenue of $96.70 million during the quarter, compared to analysts’ expectations of $91.50 million. Glaukos had a negative return on equity of 18.99% and a negative net margin of 42.43%. The firm’s revenue for the quarter was up 23.9% compared to the same quarter last year. During the same period last year, the firm posted ($0.50) EPS. As a group, analysts predict that Glaukos Co. will post -1.89 earnings per share for the current year.

Insider Transactions at Glaukos

In other news, COO Joseph E. Gilliam sold 3,328 shares of the company’s stock in a transaction on Friday, December 20th. The stock was 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 in the company, valued at approximately $15,310,024.65. This represents a 3.15 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Gilbert H. Kliman sold 10,000 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $150.28, for a total value of $1,502,800.00. Following the completion of the transaction, the director now owns 32,336 shares in the company, valued at $4,859,454.08. The trade was a 23.62 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,603 shares of company stock valued at $2,605,678. 6.40% of the stock is currently owned by corporate insiders.

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.