New York Life Investment Management LLC Invests $848,000 in Glaukos Co. (NYSE:GKOS)

New York Life Investment Management LLC purchased a new position in shares of Glaukos Co. (NYSE:GKOS) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 5,656 shares of the medical instruments supplier’s stock, valued at approximately $848,000.

A number of other institutional investors and hedge funds have also made changes to their positions in GKOS. Wellington Management Group LLP raised its position in shares of Glaukos by 294.5% during the 3rd quarter. Wellington Management Group LLP now owns 2,183,766 shares of the medical instruments supplier’s stock worth $284,501,000 after purchasing an additional 1,630,270 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Glaukos by 47.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 641,761 shares of the medical instruments supplier’s stock worth $83,609,000 after purchasing an additional 207,338 shares during the period. Loomis Sayles & Co. L P raised its position in shares of Glaukos by 21.6% during the 3rd quarter. Loomis Sayles & Co. L P now owns 673,751 shares of the medical instruments supplier’s stock worth $87,776,000 after purchasing an additional 119,527 shares during the period. State Street Corp raised its position in shares of Glaukos by 5.3% during the 3rd quarter. State Street Corp now owns 1,954,449 shares of the medical instruments supplier’s stock worth $254,626,000 after purchasing an additional 98,109 shares during the period. Finally, First Turn Management LLC acquired a new stake in shares of Glaukos during the 3rd quarter worth approximately $12,520,000. 99.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

GKOS has been the topic of several analyst reports. Morgan Stanley cut Glaukos from an “equal weight” rating to an “underweight” rating and set a $120.00 target price on the stock. in a research report on Monday, December 2nd. Piper Sandler restated an “overweight” rating and issued a $180.00 target price (up from $140.00) on shares of Glaukos in a research report on Monday, January 27th. UBS Group initiated coverage on Glaukos in a research report on Friday, December 6th. They issued a “buy” rating and a $182.00 target price on the stock. Citigroup upgraded Glaukos from a “neutral” rating to a “buy” rating and raised their target price for the company from $132.00 to $162.00 in a research report on Wednesday, December 11th. Finally, Stifel Nicolaus raised their target price on Glaukos from $153.00 to $175.00 and gave the company a “buy” rating in a research report on Tuesday, December 31st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Glaukos presently has an average rating of “Moderate Buy” and an average target price of $163.25.

Glaukos Stock Down 9.1 %

Shares of GKOS stock opened at $109.12 on Tuesday. Glaukos Co. has a 1 year low of $83.90 and a 1 year high of $163.71. The stock has a market cap of $6.17 billion, a PE ratio of -38.02 and a beta of 1.04. The business’s fifty day moving average is $150.22 and its 200-day moving average is $139.55. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.71 and a current ratio of 5.54.

Glaukos (NYSE:GKOS) last released its quarterly earnings data on Thursday, February 20th. The medical instruments supplier reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.02). The company had revenue of $105.50 million for the quarter, compared to the consensus estimate of $100.72 million. Glaukos had a negative return on equity of 16.53% and a negative net margin of 39.04%. Equities analysts expect that Glaukos Co. will post -1.08 earnings per share for the current fiscal year.

Insider Transactions at Glaukos

In other news, Director Gilbert H. Kliman sold 10,000 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $150.28, for a total transaction of $1,502,800.00. Following the completion of the sale, the director now directly owns 32,336 shares of the company’s stock, valued at $4,859,454.08. This trade represents a 23.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Joseph E. Gilliam sold 3,328 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $149.85, for a total value of $498,700.80. Following the completion of the sale, the chief operating officer now directly owns 102,169 shares of the company’s stock, valued at approximately $15,310,024.65. This trade represents a 3.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,744 shares of company stock valued at $2,792,151 in the last three months. 6.40% of the stock is currently owned by corporate insiders.

Glaukos 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.