Fred Alger Management LLC Trims Stock Holdings in Glaukos Co. (NYSE:GKOS)

Fred Alger Management LLC lessened its holdings in Glaukos Co. (NYSE:GKOS - Free Report) by 29.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 764,958 shares of the medical instruments supplier's stock after selling 312,016 shares during the quarter. Fred Alger Management LLC owned about 1.39% of Glaukos worth $114,698,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of GKOS. IFP Advisors Inc purchased a new stake in Glaukos in the 4th quarter worth approximately $43,000. Asset Planning Inc purchased a new stake in Glaukos in the 4th quarter worth approximately $90,000. CoreCap Advisors LLC boosted its position in Glaukos by 36.4% in the 4th quarter. CoreCap Advisors LLC now owns 750 shares of the medical instruments supplier's stock worth $112,000 after purchasing an additional 200 shares in the last quarter. Picton Mahoney Asset Management purchased a new stake in Glaukos in the 4th quarter worth approximately $125,000. Finally, SBI Securities Co. Ltd. purchased a new stake in Glaukos in the 4th quarter worth approximately $153,000. Institutional investors and hedge funds own 99.04% of the company's stock.

Wall Street Analysts Forecast Growth

GKOS has been the topic of several recent research reports. Mizuho lowered their price objective on Glaukos from $200.00 to $175.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 16th. Wells Fargo & Company lowered Glaukos from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $160.00 to $86.00 in a research report on Thursday, May 1st. Needham & Company LLC decreased their target price on Glaukos from $176.00 to $115.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Stephens decreased their target price on Glaukos from $140.00 to $115.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. Finally, Morgan Stanley decreased their target price on Glaukos from $110.00 to $72.00 and set an "underweight" rating on the stock in a research report on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $134.67.

Insider Buying and Selling

In related news, CFO Alex R. Thurman sold 1,520 shares of the business's stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $106.84, for a total value of $162,396.80. Following 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Tomas Navratil sold 3,416 shares of the business's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $147.14, for a total transaction of $502,630.24. Following the completion of the sale, the insider now owns 72,437 shares in the company, valued at approximately $10,658,380.18. This trade represents 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 Price Performance

GKOS stock traded down $1.92 during midday trading on Tuesday, reaching $92.72. The stock had a trading volume of 444,821 shares, compared to its average volume of 681,522. Glaukos Co. has a 52-week low of $77.10 and a 52-week high of $163.71. The company has a current ratio of 5.54, a quick ratio of 4.71 and a debt-to-equity ratio of 0.19. The company's fifty day simple moving average is $94.52 and its 200 day simple moving average is $127.06. The company has a market cap of $5.30 billion, a price-to-earnings ratio of -32.31 and a beta of 0.83.

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

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.