Oak Ridge Investments LLC Makes New $1.67 Million Investment in Glaukos Co. (NYSE:GKOS)

Oak Ridge Investments LLC bought a new stake in shares of Glaukos Co. (NYSE:GKOS) during the fourth quarter, HoldingsChannel.com reports. The fund bought 11,150 shares of the medical instruments supplier’s stock, valued at approximately $1,672,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Envestnet Asset Management Inc. increased its stake in Glaukos by 3.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 67,936 shares of the medical instruments supplier’s stock worth $8,040,000 after buying an additional 2,341 shares during the period. Wealth Alliance purchased a new stake in Glaukos during the second quarter worth $246,000. Intech Investment Management LLC purchased a new position in shares of Glaukos in the 2nd quarter valued at about $1,346,000. Brighton Jones LLC acquired a new stake in shares of Glaukos in the second quarter valued at about $208,000. Finally, Sei Investments Co. boosted its holdings in shares of Glaukos by 51.6% during the 2nd quarter. Sei Investments Co. now owns 108,546 shares of the medical instruments supplier’s stock worth $12,847,000 after purchasing an additional 36,933 shares during the last quarter. 99.04% of the stock is owned by institutional investors.

Analyst Ratings Changes

GKOS has been the topic of several recent analyst reports. UBS Group assumed coverage on Glaukos in a research note on Friday, December 6th. They issued a “buy” rating and a $182.00 price target on the stock. Stephens raised shares of Glaukos to a “strong-buy” rating in a research report on Monday, December 2nd. Truist Financial boosted their price objective on Glaukos from $152.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. StockNews.com upgraded Glaukos from a “sell” rating to a “hold” rating in a report on Monday, October 21st. Finally, Piper Sandler set a $140.00 target price on Glaukos in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Glaukos presently has a consensus rating of “Moderate Buy” and an average target price of $147.75.

Insider Activity

In related news, Director Gilbert H. Kliman sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $144.01, for a total value of $288,020.00. Following the completion of the transaction, the director now directly owns 32,336 shares of the company’s stock, valued at $4,656,707.36. This represents a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Joseph E. Gilliam sold 3,328 shares of the firm’s stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 102,169 shares in the company, valued at approximately $15,310,024.65. The trade was a 3.15 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,603 shares of company stock worth $2,605,678. 6.40% of the stock is currently owned by insiders.

Glaukos Stock Performance

Shares of NYSE:GKOS opened at $156.60 on Friday. 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 Co. has a fifty-two week low of $83.90 and a fifty-two week high of $161.13. The firm’s 50 day moving average price is $145.94 and its 200 day moving average price is $133.49.

Glaukos (NYSE:GKOS) last issued 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 net margin of 42.43% and a negative return on equity of 18.99%. The firm had revenue of $96.70 million during the quarter, compared to the consensus estimate of $91.50 million. During the same quarter in the previous year, the firm posted ($0.50) earnings per share. The company’s revenue was up 23.9% compared to the same quarter last year. Equities research analysts predict that Glaukos Co. will post -1.89 EPS 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.