Norges Bank Buys Shares of 563,493 Glaukos Co. (NYSE:GKOS)

Norges Bank purchased a new stake in Glaukos Co. (NYSE:GKOS) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 563,493 shares of the medical instruments supplier’s stock, valued at approximately $84,490,000. Norges Bank owned 1.02% of Glaukos as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Mutual of America Capital Management LLC raised its position in Glaukos by 1.1% in the fourth quarter. Mutual of America Capital Management LLC now owns 8,353 shares of the medical instruments supplier’s stock valued at $1,252,000 after purchasing an additional 89 shares during the period. HighTower Advisors LLC lifted its stake in Glaukos by 2.8% during the 4th quarter. HighTower Advisors LLC now owns 3,298 shares of the medical instruments supplier’s stock worth $495,000 after acquiring an additional 91 shares in the last quarter. Louisiana State Employees Retirement System boosted its holdings in Glaukos by 0.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 26,700 shares of the medical instruments supplier’s stock valued at $4,003,000 after acquiring an additional 100 shares during the period. Handelsbanken Fonder AB grew its position in Glaukos by 0.7% in the 4th quarter. Handelsbanken Fonder AB now owns 14,700 shares of the medical instruments supplier’s stock valued at $2,204,000 after acquiring an additional 100 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Glaukos by 2.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,956 shares of the medical instruments supplier’s stock valued at $1,427,000 after acquiring an additional 231 shares in the last quarter. 99.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Glaukos

In other Glaukos news, CFO Alex R. Thurman sold 1,520 shares of Glaukos stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $106.84, for a total value of $162,396.80. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Tomas Navratil sold 3,416 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $147.14, for a total transaction of $502,630.24. Following the sale, the insider now owns 72,437 shares of the company’s stock, valued at $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 company insiders.

Glaukos Trading Up 3.1 %

Shares of Glaukos stock opened at $100.07 on Thursday. 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 has a fifty day simple moving average of $126.91 and a 200-day simple moving average of $135.14. The stock has a market cap of $5.66 billion, a price-to-earnings ratio of -34.87 and a beta of 0.99. Glaukos Co. has a 12-month low of $89.94 and a 12-month high of $163.71.

Glaukos (NYSE:GKOS) last issued its quarterly earnings data on Thursday, February 20th. The medical instruments supplier reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.02). Glaukos had a negative return on equity of 16.53% and a negative net margin of 39.04%. The firm had revenue of $105.50 million for the quarter, compared to analysts’ expectations of $100.72 million. On average, equities analysts forecast that Glaukos Co. will post -1.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

GKOS has been the subject of several recent research reports. Wells Fargo & Company raised their price objective on shares of Glaukos from $153.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Citigroup upgraded shares of Glaukos from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $132.00 to $162.00 in a research note on Wednesday, December 11th. Truist Financial upped their price objective on Glaukos from $152.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Mizuho raised Glaukos from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $140.00 to $200.00 in a research note on Wednesday, February 19th. Finally, Needham & Company LLC increased their price target on Glaukos from $149.00 to $176.00 and gave the company a “buy” rating in a research report on Friday, February 21st. One analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Glaukos presently has an average rating of “Moderate Buy” and a consensus target price of $163.25.

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.