Cinctive Capital Management LP Raises Stake in Glaukos Co. (NYSE:GKOS)

Cinctive Capital Management LP raised its holdings in Glaukos Co. (NYSE:GKOS) by 18.5% during the third quarter, HoldingsChannel reports. The firm owned 61,983 shares of the medical instruments supplier’s stock after buying an additional 9,683 shares during the period. Cinctive Capital Management LP’s holdings in Glaukos were worth $8,075,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Values First Advisors Inc. acquired a new position in Glaukos in the 3rd quarter valued at about $25,000. Harvest Fund Management Co. Ltd grew its stake in shares of Glaukos by 2,263.2% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 898 shares of the medical instruments supplier’s stock valued at $117,000 after purchasing an additional 860 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Glaukos by 68.8% in the second quarter. GAMMA Investing LLC now owns 1,192 shares of the medical instruments supplier’s stock valued at $141,000 after purchasing an additional 486 shares during the period. Fifth Third Wealth Advisors LLC acquired a new position in shares of Glaukos in the second quarter valued at approximately $187,000. Finally, KBC Group NV raised its stake in shares of Glaukos by 16.2% during the third quarter. KBC Group NV now owns 1,445 shares of the medical instruments supplier’s stock worth $188,000 after purchasing an additional 201 shares during the last quarter. 99.04% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Glaukos

In other Glaukos news, COO Joseph E. Gilliam sold 2,275 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $138.97, for a total value of $316,156.75. Following the sale, the chief operating officer now owns 102,169 shares of the company’s stock, valued at $14,198,425.93. This represents a 2.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gilbert H. Kliman sold 3,000 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $130.67, for a total transaction of $392,010.00. Following the completion of the sale, the director now owns 32,336 shares in the company, valued at $4,225,345.12. This represents a 8.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. StockNews.com upgraded shares of Glaukos from a “sell” rating to a “hold” rating in a research report on Monday, October 21st. Truist Financial lifted their target price on shares of Glaukos from $145.00 to $152.00 and gave the company a “buy” rating in a report on Monday, October 14th. BTIG Research increased their price target on shares of Glaukos from $140.00 to $149.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. JPMorgan Chase & Co. raised their price objective on shares of Glaukos from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Finally, Morgan Stanley cut Glaukos from an “equal weight” rating to an “underweight” rating and set a $120.00 target price on the stock. in a research report on Monday. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Glaukos currently has an average rating of “Moderate Buy” and an average price target of $135.45.

Glaukos Price Performance

Shares of NYSE:GKOS opened at $143.65 on Monday. The firm has a market capitalization of $7.92 billion, a price-to-earnings ratio of -47.57 and a beta of 1.02. The company has a debt-to-equity ratio of 0.19, a current ratio of 5.54 and a quick ratio of 4.71. The business’s 50 day simple moving average is $134.13 and its 200-day simple moving average is $124.96. Glaukos Co. has a 12 month low of $59.58 and a 12 month high of $146.86.

Glaukos (NYSE:GKOS) last posted its earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.20. Glaukos had a negative return on equity of 18.99% and a negative net margin of 42.43%. The company had revenue of $96.70 million for the quarter, compared to the consensus estimate of $91.50 million. During the same period in the previous year, the business earned ($0.50) earnings per share. Glaukos’s quarterly revenue was up 23.9% compared to the same quarter last year. As a group, equities analysts forecast that Glaukos Co. will post -1.91 earnings per share for the current fiscal year.

Glaukos Profile

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.