Adage Capital Partners GP L.L.C. Has $3.51 Million Holdings in Glaukos Co. (NYSE:GKOS)

Adage Capital Partners GP L.L.C. decreased its stake in shares of Glaukos Co. (NYSE:GKOS - Free Report) by 86.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 23,398 shares of the medical instruments supplier's stock after selling 150,000 shares during the period. Adage Capital Partners GP L.L.C.'s holdings in Glaukos were worth $3,508,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. William Blair Investment Management LLC bought a new position in Glaukos during the 4th quarter worth approximately $121,390,000. Alliancebernstein L.P. raised its position in shares of Glaukos by 1,235.4% during the 4th quarter. Alliancebernstein L.P. now owns 816,153 shares of the medical instruments supplier's stock valued at $122,374,000 after acquiring an additional 755,035 shares in the last quarter. Norges Bank bought a new position in Glaukos during the fourth quarter worth $84,490,000. Raymond James Financial Inc. acquired a new position in Glaukos in the fourth quarter worth $16,910,000. Finally, Vanguard Group Inc. increased its stake in Glaukos by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 5,974,971 shares of the medical instruments supplier's stock valued at $895,887,000 after purchasing an additional 101,838 shares during the last quarter. 99.04% of the stock is currently owned by institutional investors and hedge funds.

Glaukos Price Performance

Shares of NYSE:GKOS traded up $4.06 during trading on Friday, reaching $87.60. The company had a trading volume of 2,188,300 shares, compared to its average volume of 673,086. The firm's fifty day moving average is $97.60 and its 200 day moving average is $128.81. 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 firm has a market capitalization of $5.00 billion, a PE ratio of -30.52 and a beta of 0.88. Glaukos Co. has a twelve month low of $77.10 and a twelve month high of $163.71.

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

Analyst Ratings Changes

Several research firms have recently commented on GKOS. Piper Sandler decreased their price target 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. Stephens lowered their target price on Glaukos from $140.00 to $115.00 and set an "overweight" rating for the company in a report on Friday. Needham & Company LLC cut their price target on Glaukos from $176.00 to $115.00 and set a "buy" rating on the stock in a report on Thursday. Stifel Nicolaus lowered their price objective on Glaukos from $140.00 to $115.00 and set a "buy" rating for the company in a research note on Thursday. Finally, 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. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $137.62.

Insider Buying and Selling

In related news, CFO Alex R. Thurman sold 1,520 shares of the 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 completion of the sale, the chief financial officer now directly owns 53,431 shares of the company's stock, valued at $5,708,568.04. This represents a 2.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Tomas Navratil sold 3,416 shares of Glaukos stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $147.14, for a total transaction of $502,630.24. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. 6.40% of the stock is owned by corporate insiders.

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.