Polar Asset Management Partners Inc. Reduces Position in Glaukos Co. (NYSE:GKOS)

Polar Asset Management Partners Inc. lowered its stake in Glaukos Co. (NYSE:GKOS - Free Report) by 26.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 159,710 shares of the medical instruments supplier's stock after selling 58,190 shares during the quarter. Polar Asset Management Partners Inc. owned 0.29% of Glaukos worth $23,947,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. IFP Advisors Inc purchased a new stake in shares of Glaukos during the fourth quarter valued at approximately $43,000. Asset Planning Inc purchased a new position in shares of Glaukos in the fourth quarter valued at about $90,000. CoreCap Advisors LLC raised its stake in shares of 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 acquiring an additional 200 shares during the last quarter. Picton Mahoney Asset Management purchased a new stake in shares of Glaukos during the fourth quarter worth about $125,000. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Glaukos during the fourth quarter worth about $153,000. Institutional investors own 99.04% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on GKOS shares. Needham & Company LLC decreased their target price on Glaukos from $176.00 to $115.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Wells Fargo & Company downgraded Glaukos from an "overweight" rating to an "equal weight" rating and decreased their price objective for the stock from $160.00 to $86.00 in a report on Thursday, May 1st. Truist Financial reaffirmed a "buy" rating and issued a $135.00 target price (down from $140.00) on shares of Glaukos in a research report on Thursday, May 1st. Mizuho dropped their price objective on shares of Glaukos from $200.00 to $175.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 16th. Finally, Stephens lowered their target price on shares of Glaukos from $140.00 to $115.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, Glaukos has a consensus rating of "Moderate Buy" and an average target price of $134.67.

Glaukos Stock Performance

Shares of NYSE:GKOS traded down $0.93 during midday trading on Friday, reaching $93.94. The company's stock had a trading volume of 633,234 shares, compared to its average volume of 704,191. The company has a quick ratio of 4.71, a current ratio of 5.54 and a debt-to-equity ratio of 0.19. The stock has a fifty day moving average of $92.86 and a 200 day moving average of $123.50. Glaukos Co. has a twelve month low of $77.10 and a twelve month high of $163.71. The firm has a market capitalization of $5.37 billion, a PE ratio of -32.63 and a beta of 0.83.

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

Insider Buying and Selling

In other 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 transaction of $162,396.80. Following 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 filing with the Securities & Exchange Commission, which can be accessed through this link. 6.40% of the stock is currently 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.