96,097 Shares in Glaukos Co. (NYSE:GKOS) Acquired by First Turn Management LLC

First Turn Management LLC purchased a new position in shares of Glaukos Co. (NYSE:GKOS) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 96,097 shares of the medical instruments supplier’s stock, valued at approximately $12,520,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. EFG Asset Management North America Corp. boosted its stake in shares of Glaukos by 0.5% in the second quarter. EFG Asset Management North America Corp. now owns 27,205 shares of the medical instruments supplier’s stock valued at $3,216,000 after buying an additional 128 shares in the last quarter. Values First Advisors Inc. purchased a new stake in shares of Glaukos in the third quarter valued at approximately $25,000. New York State Teachers Retirement System boosted its stake in shares of Glaukos by 0.4% in the third quarter. New York State Teachers Retirement System now owns 48,143 shares of the medical instruments supplier’s stock valued at $6,272,000 after buying an additional 200 shares in the last quarter. KBC Group NV boosted its stake in shares of Glaukos by 16.2% in the third quarter. KBC Group NV now owns 1,445 shares of the medical instruments supplier’s stock valued at $188,000 after buying an additional 201 shares in the last quarter. Finally, Inspire Investing LLC boosted its stake in shares of Glaukos by 6.9% in the third quarter. Inspire Investing LLC now owns 3,193 shares of the medical instruments supplier’s stock valued at $416,000 after buying an additional 206 shares in the last quarter. Hedge funds and other institutional investors own 99.04% of the company’s stock.

Insider Buying and Selling at Glaukos

In other news, Director Gilbert H. Kliman sold 3,000 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $130.67, for a total value of $392,010.00. Following the completion of the sale, the director now owns 32,336 shares of the company’s stock, valued at $4,225,345.12. This represents a 8.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Joseph E. Gilliam sold 5,000 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $129.36, for a total value of $646,800.00. Following the completion of the sale, the chief operating officer now directly owns 102,169 shares of the company’s stock, valued at $13,216,581.84. The trade was a 4.67 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,275 shares of company stock valued at $1,354,967. Company insiders own 6.40% of the company’s stock.

Glaukos Price Performance

Shares of NYSE:GKOS opened at $136.79 on Tuesday. The company has a market cap of $7.54 billion, a P/E ratio of -45.29 and a beta of 1.02. The company has a quick ratio of 4.71, a current ratio of 5.54 and a debt-to-equity ratio of 0.19. Glaukos Co. has a 52 week low of $59.22 and a 52 week high of $145.84. The business has a fifty day simple moving average of $130.92 and a 200-day simple moving average of $122.57.

Glaukos (NYSE:GKOS) last announced its quarterly earnings data on Monday, November 4th. The medical instruments supplier reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.20. The business had revenue of $96.70 million during the quarter, compared to the consensus estimate of $91.50 million. Glaukos had a negative return on equity of 18.99% and a negative net margin of 42.43%. The business’s revenue for the quarter was up 23.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.50) earnings per share. Equities research analysts forecast that Glaukos Co. will post -1.96 EPS for the current year.

Wall Street Analysts Forecast Growth

GKOS has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price target on Glaukos from $135.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Needham & Company LLC lifted their price objective on Glaukos from $131.00 to $137.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Stifel Nicolaus lifted their price objective on Glaukos from $130.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Piper Sandler set a $140.00 price objective on Glaukos in a report on Thursday, October 17th. Finally, BTIG Research lifted their price objective on Glaukos from $131.00 to $139.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Glaukos has an average rating of “Moderate Buy” and a consensus target price of $134.55.

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.