Norges Bank Purchases New Stake in Glaukos Corporation $GKOS

Norges Bank purchased a new stake in shares of Glaukos Corporation (NYSE:GKOS) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 536,143 shares of the medical instruments supplier’s stock, valued at approximately $60,536,000. Norges Bank owned approximately 0.93% of Glaukos at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Larson Financial Group LLC raised its position in shares of Glaukos by 62.0% during the 4th quarter. Larson Financial Group LLC now owns 345 shares of the medical instruments supplier’s stock valued at $39,000 after acquiring an additional 132 shares in the last quarter. Smartleaf Asset Management LLC increased its position in Glaukos by 16.2% in the second quarter. Smartleaf Asset Management LLC now owns 973 shares of the medical instruments supplier’s stock worth $99,000 after buying an additional 136 shares during the period. CWM LLC increased its position in Glaukos by 25.2% in the fourth quarter. CWM LLC now owns 710 shares of the medical instruments supplier’s stock worth $80,000 after buying an additional 143 shares during the period. Evergreen Capital Management LLC increased its position in Glaukos by 4.3% in the fourth quarter. Evergreen Capital Management LLC now owns 3,549 shares of the medical instruments supplier’s stock worth $401,000 after buying an additional 145 shares during the period. Finally, Crossmark Global Holdings Inc. increased its position in Glaukos by 3.7% in the fourth quarter. Crossmark Global Holdings Inc. now owns 4,034 shares of the medical instruments supplier’s stock worth $455,000 after buying an additional 145 shares during the period. 99.04% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, COO Joseph E. Gilliam sold 19,573 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $143.54, for a total value of $2,809,508.42. Following the completion of the transaction, the chief operating officer owned 73,419 shares of the company’s stock, valued at approximately $10,538,563.26. This represents a 21.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Leana Wen sold 1,700 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $143.35, for a total value of $243,695.00. Following the completion of the transaction, the director directly owned 19,739 shares of the company’s stock, valued at approximately $2,829,585.65. The trade was a 7.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 45,930 shares of company stock worth $6,321,363. 5.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Glaukos in a research report on Tuesday, April 21st. Stifel Nicolaus set a $170.00 target price on Glaukos in a research report on Thursday, April 30th. Wall Street Zen lowered Glaukos from a “buy” rating to a “hold” rating in a research report on Saturday, May 30th. Needham & Company LLC increased their target price on Glaukos from $127.00 to $136.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Finally, Citigroup increased their target price on Glaukos from $135.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Twelve investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $146.17.

Glaukos Trading Down 0.2%

NYSE:GKOS opened at $124.79 on Monday. Glaukos Corporation has a 1 year low of $73.16 and a 1 year high of $148.11. The stock has a market cap of $7.33 billion, a price-to-earnings ratio of -38.05 and a beta of 0.83. The business has a fifty day moving average of $122.29 and a 200-day moving average of $115.31. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.73 and a current ratio of 5.43.

Glaukos (NYSE:GKOS) last released its quarterly earnings results on Wednesday, April 29th. The medical instruments supplier reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.12. Glaukos had a negative return on equity of 6.92% and a negative net margin of 34.34%.The company had revenue of $150.57 million during the quarter, compared to analysts’ expectations of $137.00 million. During the same quarter in the prior year, the business posted ($0.22) earnings per share. The company’s revenue for the quarter was up 41.2% compared to the same quarter last year. Equities analysts predict that Glaukos Corporation will post -0.57 earnings per share for the current year.

About Glaukos

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.