PNC Financial Services Group Inc. purchased a new stake in Glaukos Corp. (NYSE:GKOS) during the second quarter, Holdings Channel reports. The fund purchased 14,711 shares of the company’s stock, valued at approximately $429,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Iguana Healthcare Management LLC purchased a new position in Glaukos Corp. during the first quarter valued at approximately $2,042,000. Wellington Management Group LLP purchased a new position in Glaukos Corp. during the first quarter valued at approximately $10,352,000. State Street Corp boosted its position in Glaukos Corp. by 6.7% in the first quarter. State Street Corp now owns 93,937 shares of the company’s stock valued at $1,584,000 after buying an additional 5,862 shares during the period. Cadence Capital Management LLC bought a new stake in shares of Glaukos Corp. during the second quarter valued at $282,000. Finally, Geode Capital Management LLC increased its stake 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 valued at $706,000 after buying an additional 405 shares in the last quarter. Institutional investors own 71.91% of the company’s stock.
Glaukos Corp. (NYSE:GKOS) traded down 1.71% during mid-day trading on Monday, reaching $38.48. 268,711 shares of the company traded hands. Glaukos Corp. has a 52-week low of $14.25 and a 52-week high of $39.82. The stock’s market capitalization is $1.27 billion. The firm’s 50-day moving average is $32.98 and its 200 day moving average is $26.34.
Glaukos Corp. (NYSE:GKOS) last posted its quarterly earnings results on Monday, August 1st. The company reported $0.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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 had revenue of $28.60 million for the quarter, compared to analyst estimates of $24.45 million. During the same quarter last year, the firm posted ($1.30) earnings per share. Glaukos Corp.’s revenue for the quarter was up 60.7% compared to the same quarter last year. On average, equities research analysts expect that Glaukos Corp. will post $0.10 earnings per share for the current year.
Several analysts have recently weighed in on GKOS shares. Cantor Fitzgerald boosted their price objective on shares of Glaukos Corp. from $35.00 to $41.00 and gave the stock a “buy” rating in a research report on Tuesday, August 2nd. Piper Jaffray Cos. restated a “buy” rating on shares of Glaukos Corp. in a research report on Sunday, July 17th. Zacks Investment Research downgraded shares of Glaukos Corp. from a “buy” rating to a “hold” rating in a research report on Monday, August 15th. Finally, Roth Capital boosted their price objective on shares of Glaukos Corp. from $36.50 to $41.00 and gave the stock a “buy” rating in a research report on Tuesday, August 2nd. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target 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 completion of the sale, the chief financial officer now owns 7,088 shares of the company’s stock, valued at $212,640. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Thomas William Burns sold 162,254 shares of the stock in a transaction that occurred on Wednesday, July 13th. The shares were sold at an average price of $30.07, for a total transaction of $4,878,977.78. Following the completion of the sale, the chief executive officer now directly owns 1,388 shares of the company’s stock, valued at approximately $41,737.16. 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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