Inspire Investing LLC Decreases Stock Holdings in Glaukos Co. (NYSE:GKOS)

Inspire Investing LLC lessened its stake in Glaukos Co. (NYSE:GKOS) by 14.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 2,719 shares of the medical instruments supplier’s stock after selling 474 shares during the quarter. Inspire Investing LLC’s holdings in Glaukos were worth $408,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. WCM Investment Management LLC increased its stake in shares of Glaukos by 45.7% during the third quarter. WCM Investment Management LLC now owns 99,155 shares of the medical instruments supplier’s stock worth $12,721,000 after purchasing an additional 31,084 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Glaukos by 186.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 13,726 shares of the medical instruments supplier’s stock worth $1,788,000 after buying an additional 8,942 shares during the last quarter. First Turn Management LLC purchased a new stake in Glaukos during the 3rd quarter worth approximately $12,520,000. Victory Capital Management Inc. raised its holdings in shares of Glaukos by 421.8% during the third quarter. Victory Capital Management Inc. now owns 79,211 shares of the medical instruments supplier’s stock valued at $10,320,000 after acquiring an additional 64,031 shares during the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new position in shares of Glaukos during the fourth quarter valued at approximately $3,679,000. 99.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, COO Joseph E. Gilliam sold 3,328 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $149.85, for a total value of $498,700.80. Following the completion of the transaction, the chief operating officer now owns 102,169 shares of the company’s stock, valued at approximately $15,310,024.65. This trade represents a 3.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Gilbert H. Kliman sold 2,000 shares of Glaukos stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $144.01, for a total transaction of $288,020.00. Following the completion of the transaction, the director now owns 32,336 shares of the company’s stock, valued at $4,656,707.36. This trade represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,603 shares of company stock valued at $2,605,678. Company insiders own 6.40% of the company’s stock.

Glaukos Price Performance

NYSE:GKOS opened at $160.50 on Friday. Glaukos Co. has a 52 week low of $83.90 and a 52 week high of $163.71. The stock’s fifty day moving average is $147.76 and its two-hundred day moving average is $134.85. The company has a market capitalization of $8.85 billion, a P/E ratio of -53.15 and a beta of 1.04. 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 (NYSE:GKOS) last posted its earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) EPS for the quarter, beating 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 company had revenue of $96.70 million for the quarter, compared to analysts’ expectations of $91.50 million. During the same quarter in the prior year, the company posted ($0.50) earnings per share. Glaukos’s revenue for the quarter was up 23.9% compared to the same quarter last year. Equities analysts expect that Glaukos Co. will post -1.89 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on GKOS shares. Citigroup upgraded Glaukos from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $132.00 to $162.00 in a research report on Wednesday, December 11th. Morgan Stanley cut shares of Glaukos from an “equal weight” rating to an “underweight” rating and set a $120.00 target price for the company. in a research report on Monday, December 2nd. JPMorgan Chase & Co. boosted their price target on shares of Glaukos from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Stifel Nicolaus increased their price objective on shares of Glaukos from $153.00 to $175.00 and gave the company a “buy” rating in a report on Tuesday, December 31st. Finally, BTIG Research boosted their target price on Glaukos from $140.00 to $149.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Glaukos has a consensus rating of “Moderate Buy” and an average price target of $147.75.

About Glaukos

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.