Essex Investment Management Co. LLC acquired a new stake in shares of Glaukos Corp. (NYSE:GKOS) during the second quarter, Holdings Channel reports. The firm acquired 21,040 shares of the company’s stock, valued at approximately $614,000.
Other hedge funds have also modified their holdings of the company. Strs Ohio raised its position in shares of Glaukos Corp. by 409.1% in the second quarter. Strs Ohio now owns 11,200 shares of the company’s stock worth $326,000 after buying an additional 9,000 shares during the period. Hamilton Lane Advisors LLC raised its position in shares of Glaukos Corp. by 68.2% in the second quarter. Hamilton Lane Advisors LLC now owns 67,666 shares of the company’s stock worth $1,648,000 after buying an additional 27,446 shares during the period. Iguana Healthcare Management LLC purchased a new position in shares of Glaukos Corp. during the first quarter worth about $2,042,000. Wellington Management Group LLP purchased a new position in shares of Glaukos Corp. during the first quarter worth about $10,352,000. Finally, Geode Capital Management LLC raised its position in shares of Glaukos Corp. by 1.0% in the first quarter. Geode Capital Management LLC now owns 41,932 shares of the company’s stock worth $706,000 after buying an additional 405 shares during the period. Hedge funds and other institutional investors own 71.91% of the company’s stock.
Glaukos Corp. (NYSE:GKOS) traded up 1.04% during midday trading on Wednesday, reaching $38.73. The company had a trading volume of 218,228 shares. Glaukos Corp. has a 1-year low of $14.25 and a 1-year high of $39.82. The stock’s market capitalization is $1.28 billion. The firm’s 50 day moving average is $34.17 and its 200 day moving average is $27.66.
Glaukos Corp. (NYSE:GKOS) last announced its quarterly earnings results on Monday, August 1st. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.10. Glaukos Corp. had a negative net margin of 1.23% and a negative return on equity of 1.14%. The firm earned $28.60 million during the quarter, compared to analysts’ expectations of $24.45 million. During the same period in the previous year, the company earned ($1.30) earnings per share. Glaukos Corp.’s quarterly revenue was up 60.7% compared to the same quarter last year. On average, equities analysts anticipate that Glaukos Corp. will post $0.10 EPS for the current fiscal year.
GKOS has been the topic of several analyst reports. Piper Jaffray Cos. increased their price target on Glaukos Corp. to $42.00 in a research report on Tuesday, August 2nd. Stifel Nicolaus reaffirmed a “hold” rating on shares of Glaukos Corp. in a research report on Tuesday, September 27th. Cantor Fitzgerald restated a “buy” rating and set a $41.00 target price on shares of Glaukos Corp. in a research report on Sunday, September 25th. Zacks Investment Research cut Glaukos Corp. from a “buy” rating to a “hold” rating in a research report on Monday, August 15th. Finally, Roth Capital raised their target price on Glaukos Corp. from $36.50 to $41.00 and gave the company a “buy” rating in a research report on Tuesday, August 2nd. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $39.20.
In other news, Director Orbimed Advisors Llc sold 425,000 shares of the company’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $30.59, for a total value of $13,000,750.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jonathan Silverstein sold 292,938 shares of the company’s stock in a transaction dated 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 corporate insiders.
Glaukos Corp. Company Profile
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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