Brevan Howard Capital Management LP Makes New Investment in Glaukos Co. (NYSE:GKOS)

Brevan Howard Capital Management LP purchased a new position in Glaukos Co. (NYSE:GKOS - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,671 shares of the medical instruments supplier's stock, valued at approximately $550,000.

Other hedge funds have also recently added to or reduced their stakes in the company. William Blair Investment Management LLC acquired a new stake in shares of Glaukos during the 4th quarter worth approximately $121,390,000. Alliancebernstein L.P. lifted its stake in Glaukos by 1,235.4% in the fourth quarter. Alliancebernstein L.P. now owns 816,153 shares of the medical instruments supplier's stock valued at $122,374,000 after buying an additional 755,035 shares in the last quarter. Norges Bank bought a new stake in shares of Glaukos in the fourth quarter worth $84,490,000. Gilder Gagnon Howe & Co. LLC increased its stake in Glaukos by 25.3% in the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 825,276 shares of the medical instruments supplier's stock valued at $123,742,000 after buying an additional 166,677 shares during the last quarter. Finally, Voya Investment Management LLC increased its stake in Glaukos by 266.2% in the 4th quarter. Voya Investment Management LLC now owns 200,698 shares of the medical instruments supplier's stock valued at $30,093,000 after buying an additional 145,890 shares during the last quarter. Institutional investors and hedge funds own 99.04% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Stephens dropped their price target 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. Stifel Nicolaus lowered their price target on shares of Glaukos from $140.00 to $115.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Morgan Stanley cut their price target on shares of Glaukos from $110.00 to $72.00 and set an "underweight" rating for the company in a report on Tuesday, May 6th. Piper Sandler reduced their price target on shares of Glaukos from $180.00 to $165.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. Finally, Mizuho decreased their price target on shares of Glaukos from $200.00 to $175.00 and set an "outperform" rating for the company in a research report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Glaukos has a consensus rating of "Moderate Buy" and a consensus price target of $134.67.

Glaukos Stock Down 0.6%

GKOS traded down $0.53 on Thursday, hitting $91.05. The company had a trading volume of 172,022 shares, compared to its average volume of 682,941. The stock has a fifty day moving average price of $94.05 and a 200-day moving average price of $126.57. Glaukos Co. has a 12-month low of $77.10 and a 12-month high of $163.71. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.71 and a current ratio of 5.54. The stock has a market capitalization of $5.20 billion, a price-to-earnings ratio of -31.71 and a beta of 0.83.

Glaukos (NYSE:GKOS - Get Free Report) last released its earnings results on Wednesday, April 30th. The medical instruments supplier reported ($0.22) EPS for the quarter, topping analysts' consensus estimates of ($0.33) by $0.11. Glaukos had a negative return on equity of 16.53% and a negative net margin of 39.04%. The firm had revenue of $106.66 million during the quarter, compared to the consensus estimate of $102.78 million. During the same quarter in the previous year, the company posted ($0.70) earnings per share. The company's revenue was up 24.6% compared to the same quarter last year. Analysts predict that Glaukos Co. will post -1.08 EPS for the current fiscal year.

Insider Activity at Glaukos

In related news, CFO Alex R. Thurman sold 1,520 shares of the business's stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $106.84, for a total transaction of $162,396.80. Following the completion of the sale, the chief financial officer now directly owns 53,431 shares in the company, valued at approximately $5,708,568.04. The trade was a 2.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Tomas Navratil sold 3,416 shares of the business's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $147.14, for a total value of $502,630.24. Following the sale, the insider now owns 72,437 shares of the company's stock, valued at $10,658,380.18. The trade was a 4.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.80% of the stock is owned by company insiders.

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.