Lazard Asset Management LLC Raises Stock Position in Glaukos Co. (NYSE:GKOS)

Lazard Asset Management LLC raised its holdings in shares of Glaukos Co. (NYSE:GKOS - Free Report) by 228.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,911 shares of the medical instruments supplier's stock after buying an additional 9,673 shares during the period. Lazard Asset Management LLC's holdings in Glaukos were worth $2,085,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. IFP Advisors Inc purchased a new stake in Glaukos during the fourth quarter valued at about $43,000. Asset Planning Inc purchased a new stake in Glaukos during the fourth quarter valued at about $90,000. CoreCap Advisors LLC boosted its position in Glaukos by 36.4% during the fourth quarter. CoreCap Advisors LLC now owns 750 shares of the medical instruments supplier's stock valued at $112,000 after buying an additional 200 shares during the period. Picton Mahoney Asset Management purchased a new stake in Glaukos during the fourth quarter valued at about $125,000. Finally, SBI Securities Co. Ltd. purchased a new stake in Glaukos during the fourth quarter valued at about $153,000. 99.04% of the stock is currently owned by hedge funds and other institutional investors.

Glaukos Stock Down 1.0%

Shares of GKOS traded down $0.97 on Friday, hitting $96.22. 829,075 shares of the stock traded hands, compared to its average volume of 696,970. The company has a market capitalization of $5.50 billion, a PE ratio of -33.53 and a beta of 0.83. 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 business has a 50 day simple moving average of $93.43 and a 200 day simple moving average of $124.75. Glaukos Co. has a one year low of $77.10 and a one year high of $163.71.

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Stifel Nicolaus cut their price target on shares of Glaukos from $140.00 to $115.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Morgan Stanley dropped their target price 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. Needham & Company LLC dropped their target price on shares of Glaukos from $176.00 to $115.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Wells Fargo & Company lowered shares of Glaukos from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $160.00 to $86.00 in a report on Thursday, May 1st. Finally, Piper Sandler dropped their target price on shares of Glaukos from $180.00 to $165.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $134.67.

Insider Activity at Glaukos

In other Glaukos news, CFO Alex R. Thurman sold 1,520 shares of Glaukos 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 completion of the sale, the chief financial officer now owns 53,431 shares of the company's stock, valued at approximately $5,708,568.04. The trade was a 2.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 5.80% of the stock is owned by 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.