Rhumbline Advisers Cuts Stock Position in Glaukos Corp (NYSE:GKOS)

Rhumbline Advisers cut its holdings in Glaukos Corp (NYSE:GKOS) by 2.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 48,508 shares of the medical instruments supplier’s stock after selling 1,186 shares during the quarter. Rhumbline Advisers’ holdings in Glaukos were worth $3,032,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of GKOS. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Glaukos by 9.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,274 shares of the medical instruments supplier’s stock worth $171,000 after buying an additional 201 shares during the period. Lisanti Capital Growth LLC boosted its stake in Glaukos by 1.1% during the second quarter. Lisanti Capital Growth LLC now owns 31,770 shares of the medical instruments supplier’s stock worth $2,395,000 after buying an additional 340 shares during the period. JPMorgan Chase & Co. boosted its stake in Glaukos by 0.9% during the second quarter. JPMorgan Chase & Co. now owns 46,720 shares of the medical instruments supplier’s stock worth $3,544,000 after buying an additional 406 shares during the period. NEXT Financial Group Inc boosted its stake in Glaukos by 73.7% during the second quarter. NEXT Financial Group Inc now owns 1,129 shares of the medical instruments supplier’s stock worth $85,000 after buying an additional 479 shares during the period. Finally, Harvest Fund Management Co. Ltd purchased a new position in Glaukos during the second quarter worth $39,000. 96.56% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:GKOS traded up $1.39 on Tuesday, hitting $64.20. 6,118 shares of the company’s stock were exchanged, compared to its average volume of 451,074. Glaukos Corp has a 12 month low of $50.60 and a 12 month high of $84.65. The stock has a market capitalization of $2.26 billion, a price-to-earnings ratio of -173.46 and a beta of 1.68. The business’s 50 day simple moving average is $63.22 and its two-hundred day simple moving average is $68.81. The company has a debt-to-equity ratio of 0.42, a current ratio of 6.32 and a quick ratio of 5.94.

Glaukos (NYSE:GKOS) last released its earnings results on Wednesday, November 6th. The medical instruments supplier reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.07. Glaukos had a negative return on equity of 4.01% and a negative net margin of 8.60%. The business had revenue of $58.51 million during the quarter, compared to the consensus estimate of $56.96 million. During the same period last year, the company earned ($0.17) earnings per share. The business’s revenue for the quarter was up 33.2% compared to the same quarter last year. Equities analysts forecast that Glaukos Corp will post -0.4 EPS for the current fiscal year.

Several research firms have commented on GKOS. Bank of America lowered shares of Glaukos from a “buy” rating to an “underperform” rating and set a $67.00 price objective for the company. in a research note on Monday, September 30th. ValuEngine raised shares of Glaukos from a “buy” rating to a “strong-buy” rating in a research note on Friday. Zacks Investment Research upgraded Glaukos from a “sell” rating to a “hold” rating and set a $76.00 target price for the company in a research report on Thursday, September 12th. Stifel Nicolaus decreased their target price on Glaukos from $73.00 to $69.00 and set a “hold” rating for the company in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. set a $90.00 target price on Glaukos and gave the stock a “buy” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Glaukos has a consensus rating of “Buy” and an average price target of $74.88.

In other news, CFO Joseph E. Gilliam sold 4,631 shares of Glaukos stock in a transaction on Monday, September 30th. The stock was sold at an average price of $59.75, for a total transaction of $276,702.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders have sold 15,512 shares of company stock valued at $990,672. Corporate insiders own 8.70% of the company’s stock.

About Glaukos

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; and iStent inject trabecular micro-bypass stent that allows the surgeon to inject stents into various trabecular meshwork locations through a single corneal entry for the reduction of intraocular pressure in mild-to-moderate open-angle glaucoma in combination with cataract surgery.

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Institutional Ownership by Quarter for Glaukos (NYSE:GKOS)

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