Brevan Howard Capital Management LP Purchases Shares of 3,671 Glaukos Co. (NYSE:GKOS)

Brevan Howard Capital Management LP purchased a new position in shares of Glaukos Co. (NYSE:GKOS) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,671 shares of the medical instruments supplier’s stock, valued at approximately $550,000.

Several other institutional investors also recently modified their holdings of the business. Balyasny Asset Management L.P. acquired a new position in Glaukos during the 4th quarter worth about $4,761,000. Algert Global LLC raised its position in shares of Glaukos by 41.9% during the fourth quarter. Algert Global LLC now owns 18,821 shares of the medical instruments supplier’s stock worth $2,822,000 after acquiring an additional 5,561 shares during the last quarter. Comerica Bank lifted its stake in shares of Glaukos by 664.5% in the fourth quarter. Comerica Bank now owns 151,538 shares of the medical instruments supplier’s stock worth $22,722,000 after acquiring an additional 131,715 shares during the period. Lido Advisors LLC boosted its holdings in Glaukos by 0.8% in the fourth quarter. Lido Advisors LLC now owns 16,542 shares of the medical instruments supplier’s stock valued at $2,480,000 after acquiring an additional 131 shares during the last quarter. Finally, Northern Trust Corp increased its position in Glaukos by 7.4% during the 4th quarter. Northern Trust Corp now owns 578,673 shares of the medical instruments supplier’s stock valued at $86,766,000 after purchasing an additional 40,052 shares during the period. Institutional investors own 99.04% of the company’s stock.

Glaukos Stock Performance

NYSE GKOS opened at $89.94 on Friday. The company has a current ratio of 5.54, a quick ratio of 4.71 and a debt-to-equity ratio of 0.19. The company has a fifty day simple moving average of $94.87 and a 200 day simple moving average of $127.35. Glaukos Co. has a 12-month low of $77.10 and a 12-month high of $163.71. The company has a market cap of $5.14 billion, a P/E ratio of -31.34 and a beta of 0.83.

Glaukos (NYSE:GKOS) last posted its earnings results on Wednesday, April 30th. The medical instruments supplier reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.11. The company had revenue of $106.66 million during the quarter, compared to the consensus estimate of $102.78 million. Glaukos had a negative net margin of 39.04% and a negative return on equity of 16.53%. The firm’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.70) earnings per share. Sell-side analysts predict that Glaukos Co. will post -1.08 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on GKOS shares. Wells Fargo & Company lowered shares of Glaukos from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $160.00 to $86.00 in a research note on Thursday, May 1st. Mizuho cut their price target on shares of Glaukos from $200.00 to $175.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 16th. Needham & Company LLC lowered their price objective on Glaukos from $176.00 to $115.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Piper Sandler decreased their target price on Glaukos from $180.00 to $165.00 and set an “overweight” rating for the company in a research note on Tuesday, April 15th. Finally, Stephens lowered their target price on Glaukos from $140.00 to $115.00 and set an “overweight” rating for the company in a report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Glaukos has an average rating of “Moderate Buy” and a consensus price target of $134.67.

Insider Activity

In other news, CFO Alex R. Thurman sold 1,520 shares of the company’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $106.84, for a total value of $162,396.80. Following the completion of the sale, the chief financial officer now owns 53,431 shares in the company, valued at $5,708,568.04. This represents a 2.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Tomas Navratil sold 3,416 shares of the firm’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $147.14, for a total transaction of $502,630.24. Following the transaction, the insider now directly owns 72,437 shares in the company, valued at $10,658,380.18. The trade was a 4.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 6.40% of the company’s stock.

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.