Lisanti Capital Growth LLC Takes Position in Glaukos Co. (NYSE:GKOS)

Lisanti Capital Growth LLC acquired a new stake in shares of Glaukos Co. (NYSE:GKOS) in the first quarter, Holdings Channel.com reports. The institutional investor acquired 42,095 shares of the medical instruments supplier’s stock, valued at approximately $3,969,000.

A number of other hedge funds have also recently made changes to their positions in the business. National Bank of Canada FI purchased a new position in Glaukos during the fourth quarter worth about $46,000. GAMMA Investing LLC purchased a new position in Glaukos during the fourth quarter worth about $55,000. Quadrant Capital Group LLC boosted its holdings in Glaukos by 54.8% during the fourth quarter. Quadrant Capital Group LLC now owns 929 shares of the medical instruments supplier’s stock worth $74,000 after purchasing an additional 329 shares during the last quarter. Caldwell Sutter Capital Inc. boosted its holdings in Glaukos by 5,860.0% during the first quarter. Caldwell Sutter Capital Inc. now owns 1,490 shares of the medical instruments supplier’s stock worth $140,000 after purchasing an additional 1,465 shares during the last quarter. Finally, Fisher Asset Management LLC purchased a new position in Glaukos during the fourth quarter worth about $216,000. 99.04% of the stock is currently owned by institutional investors and hedge funds.

Glaukos Stock Performance

Shares of NYSE GKOS traded down $2.15 during midday trading on Friday, hitting $121.09. The company’s stock had a trading volume of 454,964 shares, compared to its average volume of 556,102. The stock has a fifty day moving average price of $113.23 and a 200 day moving average price of $98.89. Glaukos Co. has a one year low of $59.22 and a one year high of $125.47. The company has a current ratio of 5.38, a quick ratio of 4.68 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $6.10 billion, a price-to-earnings ratio of -42.05 and a beta of 1.06.

Glaukos (NYSE:GKOS) last posted its quarterly earnings results on Wednesday, May 1st. The medical instruments supplier reported ($0.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.58) by ($0.12). Glaukos had a negative net margin of 43.15% and a negative return on equity of 24.69%. The business had revenue of $85.60 million during the quarter, compared to the consensus estimate of $79.60 million. During the same period last year, the firm earned ($0.59) EPS. The business’s revenue for the quarter was up 15.8% on a year-over-year basis. On average, research analysts forecast that Glaukos Co. will post -2.24 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Joseph E. Gilliam sold 2,250 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $121.39, for a total transaction of $273,127.50. Following the sale, the chief operating officer now owns 101,845 shares of the company’s stock, valued at approximately $12,362,964.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Glaukos news, Director Marc Stapley sold 6,250 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $112.80, for a total value of $705,000.00. Following the completion of the transaction, the director now owns 32,360 shares of the company’s stock, valued at approximately $3,650,208. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Joseph E. Gilliam sold 2,250 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $121.39, for a total transaction of $273,127.50. Following the completion of the transaction, the chief operating officer now directly owns 101,845 shares of the company’s stock, valued at approximately $12,362,964.55. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,444 shares of company stock valued at $2,411,171. Company insiders own 6.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Stifel Nicolaus boosted their price target on shares of Glaukos from $110.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, June 5th. Truist Financial reaffirmed a “buy” rating and issued a $125.00 price objective (up previously from $120.00) on shares of Glaukos in a research report on Thursday, May 2nd. Citigroup lowered shares of Glaukos from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $130.00 to $132.00 in a research report on Wednesday. Jefferies Financial Group raised shares of Glaukos from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $84.00 to $125.00 in a research report on Monday, May 6th. Finally, Wells Fargo & Company lifted their price objective on shares of Glaukos from $110.00 to $120.00 and gave the stock an “overweight” rating in a research report on Monday, June 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Glaukos has a consensus rating of “Moderate Buy” and a consensus target price of $112.45.

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.