Glaukos Corporation (NYSE:GKOS) Shares Bought by Public Sector Pension Investment Board

Key Points

• The Public Sector Pension Investment Board increased its stake in Glaukos Corporation by 27.3% during the first quarter, owning 174,836 shares valued at approximately $17.2 million.
• Several institutional investors, including Nuveen LLC and Cynosure Group LLC, have also made significant changes to their positions in Glaukos, indicating a strong interest in the company.
• Analysts have set a consensus target price of $127.42 for Glaukos, with ratings ranging from "strong buy" to "sell."

Public Sector Pension Investment Board raised its holdings in Glaukos Corporation (NYSE:GKOS - Free Report) by 27.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 174,836 shares of the medical instruments supplier's stock after buying an additional 37,455 shares during the period. Public Sector Pension Investment Board owned about 0.31% of Glaukos worth $17,207,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of GKOS. Nuveen LLC acquired a new stake in Glaukos in the first quarter valued at $31,474,000. Westfield Capital Management Co. LP grew its holdings in shares of Glaukos by 34.3% during the first quarter. Westfield Capital Management Co. LP now owns 1,084,184 shares of the medical instruments supplier's stock worth $106,705,000 after purchasing an additional 277,033 shares during the last quarter. Gilder Gagnon Howe & Co. LLC grew its holdings in shares of Glaukos by 25.3% during the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 825,276 shares of the medical instruments supplier's stock worth $123,742,000 after purchasing an additional 166,677 shares during the last quarter. Voya Investment Management LLC grew its holdings in shares of Glaukos by 266.2% during the fourth quarter. Voya Investment Management LLC now owns 200,698 shares of the medical instruments supplier's stock worth $30,093,000 after purchasing an additional 145,890 shares during the last quarter. Finally, Comerica Bank grew its holdings in shares of Glaukos by 664.5% during the fourth quarter. Comerica Bank now owns 151,538 shares of the medical instruments supplier's stock worth $22,722,000 after purchasing an additional 131,715 shares during the last quarter. 99.04% of the stock is currently owned by institutional investors and hedge funds.

Glaukos Stock Performance

GKOS traded down $1.16 during trading on Friday, reaching $89.92. The company's stock had a trading volume of 907,204 shares, compared to its average volume of 1,272,530. Glaukos Corporation has a 52-week low of $77.10 and a 52-week high of $163.71. The company's fifty day moving average price is $96.84 and its 200-day moving average price is $103.73. The company has a market capitalization of $5.16 billion, a price-to-earnings ratio of -54.50 and a beta of 0.78. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.69 and a current ratio of 5.51.

Glaukos (NYSE:GKOS - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The medical instruments supplier reported ($0.24) earnings per share for the quarter, beating analysts' consensus estimates of ($0.26) by $0.02. Glaukos had a negative return on equity of 8.59% and a negative net margin of 21.43%. The company had revenue of $124.12 million for the quarter, compared to analyst estimates of $115.49 million. During the same quarter in the previous year, the company earned ($0.52) EPS. The firm's revenue for the quarter was up 29.7% compared to the same quarter last year. On average, equities analysts forecast that Glaukos Corporation will post -1.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on GKOS. UBS Group raised their price objective on Glaukos from $125.00 to $134.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Mizuho set a $130.00 price objective on Glaukos in a report on Thursday, July 31st. Stifel Nicolaus dropped their price objective on Glaukos from $140.00 to $115.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Needham & Company LLC dropped 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. Finally, BTIG Research reissued a "buy" rating on shares of Glaukos in a report on Monday, July 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $127.42.

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.