California State Teachers Retirement System boosted its stake in Glaukos Corp. (NYSE:GKOS) by 134.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,052 shares of the company’s stock after buying an additional 20,107 shares during the period. California State Teachers Retirement System owned about 0.11% of Glaukos Corp. worth $1,022,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its position in Glaukos Corp. by 182.7% in the second quarter. Bank of New York Mellon Corp now owns 82,790 shares of the company’s stock valued at $2,413,000 after buying an additional 53,503 shares in the last quarter. Gilder Gagnon Howe & Co. LLC raised its position in Glaukos Corp. by 129.3% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 1,141,840 shares of the company’s stock valued at $33,296,000 after buying an additional 643,966 shares in the last quarter. CAM Group Holding A S purchased a new position in Glaukos Corp. during the second quarter valued at about $2,187,000. BP PLC purchased a new position in Glaukos Corp. during the second quarter valued at about $426,000. Finally, Essex Investment Management Co. LLC purchased a new position in Glaukos Corp. during the second quarter valued at about $614,000. 71.91% of the stock is currently owned by institutional investors and hedge funds.
Glaukos Corp. (NYSE:GKOS) traded up 2.67% on Tuesday, reaching $39.26. 395,167 shares of the company were exchanged. Glaukos Corp. has a 52 week low of $14.25 and a 52 week high of $39.82. The stock has a 50-day moving average price of $33.13 and a 200 day moving average price of $26.63. The stock’s market capitalization is $1.30 billion.
Glaukos Corp. (NYSE:GKOS) last released its earnings results on Monday, August 1st. The company reported $0.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.10. The company had revenue of $28.60 million for the quarter, compared to analyst estimates of $24.45 million. Glaukos Corp. had a negative net margin of 1.23% and a negative return on equity of 1.14%. The firm’s quarterly revenue was up 60.7% on a year-over-year basis. During the same period in the prior year, the business earned ($1.30) EPS. Analysts forecast that Glaukos Corp. will post $0.10 earnings per share for the current year.
Several equities analysts have issued reports on the stock. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $41.00 price target on shares of Glaukos Corp. in a report on Sunday. Roth Capital lifted their price objective on shares of Glaukos Corp. from $36.50 to $41.00 and gave the stock a “buy” rating in a research note on Tuesday, August 2nd. Piper Jaffray Cos. lifted their price objective on shares of Glaukos Corp. to $42.00 in a research note on Tuesday, August 2nd. Finally, Zacks Investment Research downgraded shares of Glaukos Corp. from a “buy” rating to a “hold” rating in a research note on Monday, August 15th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $37.80.
In other Glaukos Corp. news, CFO Richard L. Harrison sold 5,700 shares of the stock in a transaction that occurred on Tuesday, July 12th. The shares were sold at an average price of $30.00, for a total value of $171,000.00. Following the sale, the chief financial officer now directly owns 7,088 shares of the company’s stock, valued at approximately $212,640. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Jonathan Silverstein sold 292,938 shares of the stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $33.69, for a total transaction of $9,869,081.22. The disclosure for this sale can be found here. 36.80% of the stock is currently owned by company insiders.
About Glaukos Corp.
Glaukos Corporation (Glaukos) is an ophthalmic medical technology company. The Company focuses on the development and commercialization of products and procedures for the treatment of glaucoma. Glaukos has developed the micro-invasive glaucoma surgery (MIGS) for glaucoma treatment. It offers iStent, an MIGS device measuring approximately one millimeter long and approximately 0.33 millimeter wide.
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