Glaukos Co. (NYSE:GKOS) Shares Sold by Avidity Partners Management LP

Avidity Partners Management LP lessened its stake in shares of Glaukos Co. (NYSE:GKOS - Free Report) by 50.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 170,000 shares of the medical instruments supplier's stock after selling 174,900 shares during the quarter. Glaukos comprises about 2.5% of Avidity Partners Management LP's investment portfolio, making the stock its 15th biggest position. Avidity Partners Management LP owned about 0.31% of Glaukos worth $25,490,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of GKOS. IFP Advisors Inc acquired a new stake in shares of Glaukos during the fourth quarter valued at $43,000. Asset Planning Inc purchased a new position in Glaukos in the 4th quarter valued at about $90,000. Picton Mahoney Asset Management acquired a new stake in shares of Glaukos during the 4th quarter worth about $125,000. SBI Securities Co. Ltd. purchased a new stake in shares of Glaukos during the fourth quarter worth about $153,000. Finally, Smartleaf Asset Management LLC raised its position in shares of Glaukos by 275.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,100 shares of the medical instruments supplier's stock valued at $164,000 after buying an additional 807 shares during the last quarter. Hedge funds and other institutional investors own 99.04% of the company's stock.

Glaukos Stock Up 1.2 %

Shares of NYSE:GKOS traded up $1.03 during midday trading on Wednesday, hitting $88.23. 962,409 shares of the company's stock traded hands, compared to its average volume of 678,115. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.71 and a current ratio of 5.54. Glaukos Co. has a twelve month low of $77.10 and a twelve month high of $163.71. The company has a market cap of $5.04 billion, a PE ratio of -30.74 and a beta of 0.83. The firm's fifty day moving average price is $95.68 and its two-hundred day moving average price is $127.93.

Glaukos (NYSE:GKOS - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The medical instruments supplier reported ($0.22) earnings per share for the quarter, beating analysts' consensus estimates of ($0.33) by $0.11. Glaukos had a negative net margin of 39.04% and a negative return on equity of 16.53%. The business had revenue of $106.66 million during the quarter, compared to analyst estimates of $102.78 million. During the same period last year, the business earned ($0.70) EPS. The business's revenue was up 24.6% on a year-over-year basis. On average, equities research analysts anticipate that Glaukos Co. will post -1.08 EPS for the current fiscal year.

Insider Transactions at Glaukos

In other news, insider Tomas Navratil sold 3,416 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $147.14, for a total transaction of $502,630.24. Following the transaction, the insider now owns 72,437 shares of the company's stock, valued at approximately $10,658,380.18. This trade represents a 4.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Alex R. Thurman sold 1,520 shares of the company's stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $106.84, for a total value of $162,396.80. Following the sale, the chief financial officer now owns 53,431 shares in the company, valued at $5,708,568.04. The trade was a 2.77 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 6.40% of the company's stock.

Wall Street Analysts Forecast Growth

GKOS has been the topic of a number of analyst reports. Stephens decreased their target price on shares of Glaukos from $140.00 to $115.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. Needham & Company LLC decreased their price objective on Glaukos from $176.00 to $115.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Mizuho dropped their target price on Glaukos from $200.00 to $175.00 and set an "outperform" rating for the company in a research note on Wednesday, April 16th. Morgan Stanley decreased their price target on Glaukos from $110.00 to $72.00 and set an "underweight" rating on the stock in a research note on Tuesday. Finally, Truist Financial reaffirmed a "buy" rating and set a $135.00 price objective (down previously from $140.00) on shares of Glaukos in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Glaukos presently has an average rating of "Moderate Buy" and a consensus target price of $134.67.

Glaukos Company 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.