Jennison Associates LLC Makes New Investment in Glaukos Co. (NYSE:GKOS)

Jennison Associates LLC acquired a new position in Glaukos Co. (NYSE:GKOS - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 7,649 shares of the medical instruments supplier's stock, valued at approximately $608,000.

Several other hedge funds have also made changes to their positions in the stock. CWM LLC boosted its position in shares of Glaukos by 309.5% during the 3rd quarter. CWM LLC now owns 1,384 shares of the medical instruments supplier's stock valued at $104,000 after acquiring an additional 1,046 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Glaukos by 17.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,827 shares of the medical instruments supplier's stock valued at $137,000 after acquiring an additional 270 shares during the period. Mackenzie Financial Corp bought a new stake in Glaukos in the third quarter valued at $203,000. Xponance Inc. bought a new position in shares of Glaukos during the third quarter valued at $208,000. Finally, Pathstone Family Office LLC bought a new stake in shares of Glaukos in the 3rd quarter worth about $217,000. Institutional investors own 99.04% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Mizuho lifted their target price on shares of Glaukos from $85.00 to $100.00 and gave the company a "neutral" rating in a research note on Thursday, April 11th. Citigroup increased their price objective on shares of Glaukos from $107.00 to $120.00 and gave the stock a "buy" rating in a report on Monday, March 25th. Truist Financial reiterated a "buy" rating and set a $110.00 target price on shares of Glaukos in a research report on Monday, April 8th. StockNews.com lowered shares of Glaukos from a "hold" rating to a "sell" rating in a report on Tuesday, February 27th. Finally, Wells Fargo & Company upped their price objective on Glaukos from $83.00 to $103.00 and gave the stock an "overweight" rating in a report on Thursday, February 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $99.80.

Insider Buying and Selling

In other Glaukos news, Director Mark J. Foley sold 4,560 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $92.87, for a total value of $423,487.20. Following the sale, the director now directly owns 33,220 shares in the company, valued at $3,085,141.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Alex R. Thurman sold 474 shares of the business's stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $90.37, for a total value of $42,835.38. Following the completion of the transaction, the chief financial officer now directly owns 54,916 shares in the company, valued at approximately $4,962,758.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark J. Foley sold 4,560 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $92.87, for a total value of $423,487.20. Following the sale, the director now directly owns 33,220 shares of the company's stock, valued at $3,085,141.40. The disclosure for this sale can be found here. Insiders have sold 232,881 shares of company stock valued at $21,965,491 in the last 90 days. 6.40% of the stock is owned by insiders.

Glaukos Stock Down 2.2 %

Shares of NYSE:GKOS traded down $2.22 during midday trading on Monday, hitting $97.26. The company had a trading volume of 637,956 shares, compared to its average volume of 655,429. The firm has a fifty day simple moving average of $92.42 and a 200 day simple moving average of $81.88. The company has a quick ratio of 4.78, a current ratio of 5.34 and a debt-to-equity ratio of 0.77. Glaukos Co. has a 12 month low of $45.38 and a 12 month high of $103.66.

Glaukos (NYSE:GKOS - Get Free Report) last issued its earnings results on Wednesday, February 21st. The medical instruments supplier reported ($0.63) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.56) by ($0.07). The company had revenue of $82.40 million for the quarter, compared to the consensus estimate of $81.00 million. Glaukos had a negative return on equity of 22.67% and a negative net margin of 42.79%. Glaukos's quarterly revenue was up 15.7% on a year-over-year basis. During the same quarter last year, the business posted ($0.53) EPS. As a group, equities research analysts expect that Glaukos Co. will post -2.18 earnings per share for the current year.

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.