Allianz Asset Management GmbH Has $5.60 Million Stock Position in Glaukos Corporation (NYSE:GKOS)

Key Points

• Allianz Asset Management GmbH reduced its stake in Glaukos Corporation by 22.2%, selling 16,221 shares and now owning approximately 56,923 shares worth about $5.6 million.
• Several institutional investors increased their holdings in Glaukos, with notable increases from Alliancebernstein L.P. (up 1,235.4%) and Gilder Gagnon Howe & Co. LLC (up 25.3%).
• Analysts have varied ratings on Glaukos, with targets ranging from $86.00 to $180.00, and an average rating of "Moderate Buy" based on current performance and outlook.

Allianz Asset Management GmbH cut its stake in Glaukos Corporation (NYSE:GKOS - Free Report) by 22.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 56,923 shares of the medical instruments supplier's stock after selling 16,221 shares during the quarter. Allianz Asset Management GmbH owned about 0.10% of Glaukos worth $5,602,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. State of Wyoming lifted its position in Glaukos by 2.3% during the 4th quarter. State of Wyoming now owns 3,245 shares of the medical instruments supplier's stock worth $487,000 after acquiring an additional 72 shares during the period. Quadrant Capital Group LLC lifted its position in Glaukos by 3.3% during the 4th quarter. Quadrant Capital Group LLC now owns 2,300 shares of the medical instruments supplier's stock worth $345,000 after acquiring an additional 73 shares during the period. HighTower Advisors LLC lifted its position in Glaukos by 2.8% during the 4th quarter. HighTower Advisors LLC now owns 3,298 shares of the medical instruments supplier's stock worth $495,000 after acquiring an additional 91 shares during the period. Stifel Financial Corp lifted its position in Glaukos by 2.6% during the 4th quarter. Stifel Financial Corp now owns 4,341 shares of the medical instruments supplier's stock worth $651,000 after acquiring an additional 111 shares during the period. Finally, Valeo Financial Advisors LLC lifted its position in Glaukos by 1.5% during the 1st quarter. Valeo Financial Advisors LLC now owns 7,817 shares of the medical instruments supplier's stock worth $769,000 after acquiring an additional 117 shares during the period. 99.04% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on GKOS shares. Mizuho set a $130.00 target price on Glaukos in a report on Thursday. Truist Financial reissued a "buy" rating and issued a $135.00 target price (down previously from $140.00) on shares of Glaukos in a report on Thursday, May 1st. UBS Group increased their target price on shares of Glaukos from $125.00 to $134.00 and gave the stock a "buy" rating in a research note on Thursday. BTIG Research restated a "buy" rating on shares of Glaukos in a research report on Monday, July 14th. Finally, Stifel Nicolaus dropped their target price on shares of Glaukos from $140.00 to $115.00 and set a "buy" rating for the company in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, Glaukos currently has an average rating of "Moderate Buy" and an average target price of $126.92.

Glaukos Trading Down 10.2%

Shares of GKOS stock traded down $9.55 during trading hours on Thursday, reaching $84.50. 1,222,033 shares of the stock traded hands, compared to its average volume of 928,996. The firm has a market capitalization of $4.83 billion, a PE ratio of -35.53 and a beta of 0.82. The company has a quick ratio of 5.62, a current ratio of 6.49 and a debt-to-equity ratio of 0.09. The business has a fifty day moving average price of $98.44 and a 200 day moving average price of $109.49. Glaukos Corporation has a 1-year low of $77.10 and a 1-year high of $163.71.

Glaukos (NYSE:GKOS - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The medical instruments supplier reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.02. The business had revenue of $124.12 million during the quarter, compared to the consensus estimate of $115.49 million. Glaukos had a negative net margin of 31.40% and a negative return on equity of 10.66%. Glaukos's quarterly revenue was up 29.7% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.52) EPS. On average, equities research analysts forecast that Glaukos Corporation will post -1.08 EPS for the current year.

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.