Glaukos Co. (NYSE:GKOS) Shares Sold by Iron Triangle Partners LP

Iron Triangle Partners LP lessened its stake in Glaukos Co. (NYSE:GKOS) by 57.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 217,674 shares of the medical instruments supplier’s stock after selling 290,482 shares during the period. Glaukos comprises 3.9% of Iron Triangle Partners LP’s portfolio, making the stock its 11th largest holding. Iron Triangle Partners LP’s holdings in Glaukos were worth $28,359,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in GKOS. HighTower Advisors LLC boosted its position in shares of Glaukos by 3.3% in the 3rd quarter. HighTower Advisors LLC now owns 3,207 shares of the medical instruments supplier’s stock valued at $416,000 after purchasing an additional 103 shares during the period. EFG Asset Management North America Corp. boosted its holdings 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 acquiring an additional 128 shares in the last quarter. Values First Advisors Inc. acquired a new position in Glaukos during the 3rd quarter worth approximately $25,000. New York State Teachers Retirement System grew its holdings in Glaukos by 0.4% during the third quarter. New York State Teachers Retirement System now owns 48,143 shares of the medical instruments supplier’s stock worth $6,272,000 after acquiring an additional 200 shares during the period. Finally, KBC Group NV grew its stake in shares of Glaukos by 16.2% during the 3rd quarter. KBC Group NV now owns 1,445 shares of the medical instruments supplier’s stock worth $188,000 after purchasing an additional 201 shares during the period. Hedge funds and other institutional investors own 99.04% of the company’s stock.

Insiders Place Their Bets

In related news, Director Gilbert H. Kliman sold 3,000 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $130.67, for a total transaction of $392,010.00. Following the sale, the director now owns 32,336 shares in the company, valued at $4,225,345.12. This represents a 8.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Joseph E. Gilliam sold 2,275 shares of Glaukos stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $138.97, for a total value of $316,156.75. Following the completion of the transaction, the chief operating officer now owns 102,169 shares of the company’s stock, valued at approximately $14,198,425.93. The trade was a 2.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.40% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GKOS. Stifel Nicolaus lifted their price objective on Glaukos from $145.00 to $153.00 and gave the stock a “buy” rating in a report on Monday. Truist Financial lifted their target price on shares of Glaukos from $145.00 to $152.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Wells Fargo & Company raised their price objective on Glaukos from $135.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. lifted their price target on Glaukos from $130.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Finally, StockNews.com raised Glaukos from a “sell” rating to a “hold” rating in a research report on Monday, October 21st. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Glaukos presently has an average rating of “Moderate Buy” and an average price target of $136.18.

Glaukos Trading Down 3.2 %

Glaukos stock opened at $139.07 on Tuesday. The company has a quick ratio of 4.71, a current ratio of 5.54 and a debt-to-equity ratio of 0.19. The firm’s fifty day moving average price is $134.36 and its 200 day moving average price is $125.16. Glaukos Co. has a 12-month low of $59.58 and a 12-month high of $146.86.

Glaukos (NYSE:GKOS) last issued its quarterly earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.20. Glaukos had a negative net margin of 42.43% and a negative return on equity of 18.99%. The business had revenue of $96.70 million during the quarter, compared to analyst estimates of $91.50 million. During the same quarter in the previous year, the firm earned ($0.50) earnings per share. The business’s revenue was up 23.9% compared to the same quarter last year. Analysts anticipate that Glaukos Co. will post -1.91 earnings per share for the current fiscal 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.