Glaukos Corp (GKOS) Stake Lessened by Picton Mahoney Asset Management
Picton Mahoney Asset Management cut its holdings in shares of Glaukos Corp (NYSE:GKOS) by 3.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,500 shares of the medical instruments supplier’s stock after selling 1,000 shares during the period. Picton Mahoney Asset Management owned 0.08% of Glaukos worth $1,784,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. NumerixS Investment Technologies Inc acquired a new position in shares of Glaukos in the 2nd quarter valued at $127,000. Great West Life Assurance Co. Can increased its position in shares of Glaukos by 112.0% in the 2nd quarter. Great West Life Assurance Co. Can now owns 4,240 shares of the medical instruments supplier’s stock valued at $172,000 after acquiring an additional 2,240 shares during the period. Valeo Financial Advisors LLC acquired a new position in shares of Glaukos in the 2nd quarter valued at $183,000. Amalgamated Bank acquired a new position in shares of Glaukos in the 2nd quarter valued at $205,000. Finally, Xact Kapitalforvaltning AB acquired a new position in shares of Glaukos in the 2nd quarter valued at $248,000.
In other Glaukos news, Director Gilbert H. Kliman sold 502,760 shares of the company’s stock in a transaction on Thursday, August 30th. The shares were sold at an average price of $60.39, for a total value of $30,361,676.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 11.60% of the stock is currently owned by corporate insiders.
Glaukos (NYSE:GKOS) last posted its quarterly earnings results on Wednesday, November 7th. The medical instruments supplier reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.05). Glaukos had a negative net margin of 8.13% and a negative return on equity of 9.58%. The business had revenue of $43.91 million during the quarter, compared to analysts’ expectations of $41.65 million. During the same period in the previous year, the company posted $0.04 earnings per share. Glaukos’s revenue for the quarter was up 8.7% compared to the same quarter last year. Equities research analysts forecast that Glaukos Corp will post -0.55 EPS for the current year.
GKOS has been the topic of several research reports. Stifel Nicolaus upped their target price on Glaukos from $32.00 to $35.00 and gave the company a “hold” rating in a research report on Friday, August 3rd. Piper Jaffray Companies upped their target price on Glaukos to $46.00 and gave the company an “overweight” rating in a research report on Friday, August 3rd. Zacks Investment Research raised Glaukos from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a research report on Tuesday, August 7th. Stephens reissued an “overweight” rating and issued a $57.00 target price on shares of Glaukos in a research report on Wednesday, August 29th. Finally, JPMorgan Chase & Co. raised Glaukos from a “neutral” rating to an “overweight” rating and upped their target price for the company from $42.00 to $75.00 in a research report on Wednesday, August 29th. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $58.20.
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Glaukos Corporation, an ophthalmic medical technology and pharmaceutical company, focuses on the development and commercialization of surgical devices and sustained pharmaceutical therapies designed to treat glaucoma. It offers iStent, a micro-bypass stent for insertion in conjunction with cataract surgery for the reduction of intraocular pressure in adult patients with mild-to-moderate open-angle glaucoma.
See Also: Return on Investment (ROI)
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