Orbimed Advisors LLC Has $27.61 Million Stake in Glaukos Corporation (GKOS)

Orbimed Advisors LLC trimmed its stake in Glaukos Corporation (NYSE:GKOS) by 52.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 836,500 shares of the medical instruments supplier’s stock after selling 905,200 shares during the period. Orbimed Advisors LLC owned approximately 2.42% of Glaukos worth $27,605,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of GKOS. Teachers Advisors LLC increased its position in shares of Glaukos by 6.2% in the first quarter. Teachers Advisors LLC now owns 29,512 shares of the medical instruments supplier’s stock worth $1,514,000 after purchasing an additional 1,723 shares during the last quarter. California Public Employees Retirement System bought a new position in shares of Glaukos in the first quarter worth approximately $390,000. Geode Capital Management LLC increased its position in shares of Glaukos by 15.3% in the first quarter. Geode Capital Management LLC now owns 100,987 shares of the medical instruments supplier’s stock worth $5,180,000 after purchasing an additional 13,432 shares during the last quarter. State Street Corp increased its position in shares of Glaukos by 21.8% in the first quarter. State Street Corp now owns 342,881 shares of the medical instruments supplier’s stock worth $17,591,000 after purchasing an additional 61,474 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new position in shares of Glaukos in the second quarter worth approximately $651,000. Institutional investors own 99.23% of the company’s stock.

GKOS has been the subject of several research reports. BidaskClub raised Glaukos from a “hold” rating to a “buy” rating in a research note on Tuesday, September 12th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $38.00 target price on shares of Glaukos in a research note on Friday, September 15th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $60.00 target price (up previously from $54.00) on shares of Glaukos in a research note on Thursday, September 14th. BMO Capital Markets reaffirmed a “buy” rating and issued a $45.00 target price on shares of Glaukos in a research note on Wednesday, October 18th. Finally, Stephens reaffirmed an “overweight” rating and issued a $40.00 target price (down previously from $47.00) on shares of Glaukos in a research note on Monday, November 13th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $46.57.

In related news, CFO Joseph E. Gilliam acquired 2,100 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The stock was purchased at an average price of $23.84 per share, with a total value of $50,064.00. Following the completion of the purchase, the chief financial officer now owns 102,100 shares in the company, valued at approximately $2,434,064. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 16.40% of the company’s stock.

Shares of Glaukos Corporation (GKOS) opened at $25.96 on Friday. The stock has a market capitalization of $897.31, a P/E ratio of 216.33 and a beta of 1.02. Glaukos Corporation has a 52 week low of $23.44 and a 52 week high of $52.49.

Glaukos (NYSE:GKOS) last released its quarterly earnings data on Tuesday, November 7th. The medical instruments supplier reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.06. The firm had revenue of $40.41 million during the quarter, compared to analyst estimates of $38.69 million. Glaukos had a positive return on equity of 3.50% and a negative net margin of 0.64%. The business’s quarterly revenue was up 36.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.03 earnings per share. analysts predict that Glaukos Corporation will post -0.03 earnings per share for the current fiscal year.

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Glaukos Company Profile

Glaukos Corporation is an ophthalmic medical technology company. The Company focuses on the development and commercialization of products and procedures for the treatment of glaucoma. It offers iStent, a micro-invasive glaucoma surgery (MIGS) device. The iStent is a micro-bypass stent inserted through the small corneal incision made during cataract surgery and placed into Schlemm’s canal, a circular channel in the eye that collects aqueous humor and delivers it back into the bloodstream.

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Institutional Ownership by Quarter for Glaukos (NYSE:GKOS)

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