Jennison Associates LLC Has $20.80 Million Stock Holdings in Glaukos Corp (NYSE:GKOS)

Jennison Associates LLC decreased its position in Glaukos Corp (NYSE:GKOS) by 43.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 265,403 shares of the medical instruments supplier’s stock after selling 200,390 shares during the quarter. Jennison Associates LLC owned 0.73% of Glaukos worth $20,800,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. NumerixS Investment Technologies Inc grew its stake in shares of Glaukos by 20.7% during the fourth quarter. NumerixS Investment Technologies Inc now owns 1,100 shares of the medical instruments supplier’s stock worth $61,000 after purchasing an additional 189 shares in the last quarter. Equitable Trust Co. boosted its stake in Glaukos by 12.5% in the fourth quarter. Equitable Trust Co. now owns 4,500 shares of the medical instruments supplier’s stock valued at $253,000 after acquiring an additional 500 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Glaukos by 24.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,583 shares of the medical instruments supplier’s stock valued at $145,000 after acquiring an additional 508 shares in the last quarter. American International Group Inc. boosted its stake in Glaukos by 2.4% in the fourth quarter. American International Group Inc. now owns 22,433 shares of the medical instruments supplier’s stock valued at $1,260,000 after acquiring an additional 530 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in Glaukos by 1.2% in the first quarter. Rhumbline Advisers now owns 45,343 shares of the medical instruments supplier’s stock valued at $3,554,000 after acquiring an additional 542 shares in the last quarter. 95.78% of the stock is currently owned by institutional investors.

In related news, CFO Joseph E. Gilliam sold 8,750 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $74.22, for a total value of $649,425.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 17,500 shares of company stock worth $1,251,929 over the last quarter. Insiders own 8.70% of the company’s stock.

Several equities research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Glaukos from a “sell” rating to a “hold” rating and set a $74.00 target price for the company in a research note on Monday, March 4th. BTIG Research assumed coverage on shares of Glaukos in a report on Friday, March 8th. They issued a “neutral” rating and a $66.02 target price for the company. Wells Fargo & Co reaffirmed a “buy” rating on shares of Glaukos in a report on Wednesday, March 20th. Finally, BMO Capital Markets increased their target price on shares of Glaukos from $66.00 to $71.00 and gave the company a “market perform” rating in a report on Thursday, May 9th. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company’s stock. Glaukos presently has a consensus rating of “Buy” and an average target price of $72.56.

Shares of GKOS traded up $1.47 during midday trading on Monday, hitting $76.87. The company had a trading volume of 280,100 shares, compared to its average volume of 389,168. The firm has a 50 day moving average price of $69.77. The stock has a market cap of $2.80 billion, a PE ratio of -208.16 and a beta of 1.61. Glaukos Corp has a 52 week low of $36.89 and a 52 week high of $83.14. The company has a current ratio of 6.72, a quick ratio of 6.23 and a debt-to-equity ratio of 0.07.

Glaukos (NYSE:GKOS) last posted its quarterly earnings results on Wednesday, May 8th. The medical instruments supplier reported ($0.04) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.08. The business had revenue of $54.03 million during the quarter, compared to analyst estimates of $50.13 million. Glaukos had a negative net margin of 5.93% and a negative return on equity of 6.90%. On average, research analysts predict that Glaukos Corp will post -0.3 EPS for the current fiscal year.

Glaukos Profile

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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