Rhenman & Partners Asset Management AB Sells 5,000 Shares of Glaukos Corporation $GKOS

Rhenman & Partners Asset Management AB lessened its stake in Glaukos Corporation (NYSE:GKOS) by 2.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 230,000 shares of the medical instruments supplier’s stock after selling 5,000 shares during the period. Glaukos makes up about 2.1% of Rhenman & Partners Asset Management AB’s holdings, making the stock its 17th biggest holding. Rhenman & Partners Asset Management AB owned 0.40% of Glaukos worth $18,756,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in GKOS. Smartleaf Asset Management LLC grew its holdings in shares of Glaukos by 16.2% during the 2nd quarter. Smartleaf Asset Management LLC now owns 973 shares of the medical instruments supplier’s stock valued at $99,000 after purchasing an additional 136 shares during the last quarter. UMB Bank n.a. lifted its stake in Glaukos by 102.6% in the third quarter. UMB Bank n.a. now owns 312 shares of the medical instruments supplier’s stock worth $25,000 after purchasing an additional 158 shares during the last quarter. AQR Capital Management LLC boosted its position in Glaukos by 2.6% during the first quarter. AQR Capital Management LLC now owns 7,788 shares of the medical instruments supplier’s stock valued at $766,000 after buying an additional 198 shares during the period. State of Wyoming boosted its position in Glaukos by 13.1% during the third quarter. State of Wyoming now owns 1,723 shares of the medical instruments supplier’s stock valued at $141,000 after buying an additional 199 shares during the period. Finally, Amalgamated Bank grew its stake in shares of Glaukos by 1.5% during the third quarter. Amalgamated Bank now owns 16,238 shares of the medical instruments supplier’s stock valued at $1,324,000 after buying an additional 242 shares during the last quarter. Institutional investors own 99.04% of the company’s stock.

Insiders Place Their Bets

In other news, Director Marc Stapley sold 15,000 shares of the firm’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $127.71, for a total value of $1,915,650.00. Following the completion of the sale, the director directly owned 37,449 shares of the company’s stock, valued at approximately $4,782,611.79. This trade represents a 28.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Thomas William Burns sold 186,945 shares of Glaukos stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $115.00, for a total transaction of $21,498,675.00. Following the sale, the chief executive officer directly owned 153,775 shares in the company, valued at $17,684,125. The trade was a 54.87% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 325,000 shares of company stock worth $37,739,259. Company insiders own 5.80% of the company’s stock.

Glaukos Trading Down 3.6%

NYSE GKOS opened at $108.01 on Friday. The stock has a market cap of $6.27 billion, a P/E ratio of -33.13 and a beta of 0.70. Glaukos Corporation has a fifty-two week low of $73.16 and a fifty-two week high of $130.23. The stock has a 50 day simple moving average of $115.83 and a two-hundred day simple moving average of $100.93. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.06 and a current ratio of 4.69.

Glaukos (NYSE:GKOS) last posted its earnings results on Tuesday, February 17th. The medical instruments supplier reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.06). Glaukos had a negative net margin of 36.99% and a negative return on equity of 7.00%. The business had revenue of $143.12 million for the quarter, compared to analysts’ expectations of $132.16 million. During the same period last year, the firm posted ($0.40) earnings per share. Glaukos’s quarterly revenue was up 35.6% on a year-over-year basis. On average, analysts forecast that Glaukos Corporation will post -1.08 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on GKOS shares. Wells Fargo & Company boosted their target price on Glaukos from $122.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, February 18th. Piper Sandler reissued an “overweight” rating and set a $165.00 price objective on shares of Glaukos in a research note on Wednesday, January 14th. Truist Financial raised their target price on shares of Glaukos from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, December 18th. BTIG Research reissued a “buy” rating and set a $131.00 price target on shares of Glaukos in a research report on Wednesday, February 18th. Finally, Wall Street Zen lowered shares of Glaukos from a “buy” rating to a “hold” rating in a report on Saturday, February 21st. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $133.69.

Glaukos Company Profile

Glaukos Corporation is a medical technology company specializing in the development, manufacturing and commercialization of innovative therapies for patients with glaucoma and other chronic eye diseases. The company’s core offerings focus on micro-invasive glaucoma surgery (MIGS), designed to reduce intraocular pressure and manage glaucoma more safely and effectively than traditional surgical approaches. Glaukos’s flagship products include the iStent, iStent inject and iStent infinite trabecular micro-bypass stents, which are implanted during cataract surgery to improve aqueous outflow and help control eye pressure.

Beyond its MIGS portfolio, Glaukos has expanded into sustained drug-delivery solutions.