Todays Report: The Glaukos Corp. (GKOS) Position Lowered by Versant Venture Management LLC

The Glaukos Corp. (GKOS) Position Lowered by Versant Venture Management LLC

Versant Venture Management LLC reduced its stake in shares of Glaukos Corp. (NYSE:GKOS) by 17.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,586,985 shares of the company’s stock after selling 549,247 shares during the period. Glaukos Corp. comprises about 76.5% of Versant Venture Management LLC’s investment portfolio, making the stock its largest position. Versant Venture Management LLC owned about 0.08% of Glaukos Corp. worth $75,436,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the stock. Geode Capital Management LLC increased its stake in Glaukos Corp. by 1.0% in the first quarter. Geode Capital Management LLC now owns 41,932 shares of the company’s stock worth $706,000 after buying an additional 405 shares in the last quarter. State Street Corp increased its stake in Glaukos Corp. by 6.7% in the first quarter. State Street Corp now owns 93,937 shares of the company’s stock worth $1,584,000 after buying an additional 5,862 shares in the last quarter. Strs Ohio increased its stake in Glaukos Corp. by 409.1% in the second quarter. Strs Ohio now owns 11,200 shares of the company’s stock worth $326,000 after buying an additional 9,000 shares in the last quarter. Spark Investment Management LLC purchased a new stake in Glaukos Corp. during the first quarter worth approximately $300,000. Finally, Essex Investment Management Co. LLC purchased a new stake in Glaukos Corp. during the second quarter worth approximately $614,000. Institutional investors and hedge funds own 71.91% of the company’s stock.

Glaukos Corp. (NYSE:GKOS) traded down 0.31% on Friday, hitting $35.62. The stock had a trading volume of 171,257 shares. Glaukos Corp. has a 12 month low of $14.25 and a 12 month high of $39.82. The firm’s 50 day moving average price is $35.23 and its 200-day moving average price is $28.39. The stock’s market cap is $1.18 billion.

Glaukos Corp. (NYSE:GKOS) last posted its quarterly earnings data on Monday, August 1st. The company reported $0.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.10. Glaukos Corp. had a negative return on equity of 1.14% and a negative net margin of 1.23%. The company had revenue of $28.60 million for the quarter, compared to analysts’ expectations of $24.45 million. During the same period in the previous year, the firm posted ($1.30) EPS. Glaukos Corp.’s revenue was up 60.7% compared to the same quarter last year. On average, analysts forecast that Glaukos Corp. will post $0.11 EPS for the current year.

A number of equities research analysts recently commented on the company. Piper Jaffray Cos. reiterated a “buy” rating on shares of Glaukos Corp. in a research report on Sunday, July 17th. Zacks Investment Research downgraded Glaukos Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, July 5th. Stifel Nicolaus restated a “hold” rating on shares of Glaukos Corp. in a research report on Tuesday, September 27th. Cantor Fitzgerald upped their price objective on Glaukos Corp. from $35.00 to $41.00 and gave the company a “buy” rating in a research report on Tuesday, August 2nd. Finally, Roth Capital upped their price objective on Glaukos Corp. from $36.50 to $41.00 and gave the company a “buy” rating in a research report on Tuesday, August 2nd. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $39.20.

In related news, CFO Richard L. Harrison sold 10,000 shares of Glaukos Corp. stock in a transaction dated Wednesday, July 27th. The stock was sold at an average price of $35.01, for a total value of $350,100.00. Following the sale, the chief financial officer now directly owns 11,388 shares in the company, valued at approximately $398,693.88. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Orbimed Advisors Llc sold 425,000 shares of Glaukos Corp. stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $30.59, for a total value of $13,000,750.00. The disclosure for this sale can be found here. 36.80% of the stock is owned by corporate insiders.

Glaukos Corp. Company Profile

Glaukos Corporation (Glaukos) is an ophthalmic medical technology company. The Company focuses on the development and commercialization of products and procedures for the treatment of glaucoma. Glaukos has developed the micro-invasive glaucoma surgery (MIGS) for glaucoma treatment. It offers iStent, an MIGS device measuring approximately one millimeter long and approximately 0.33 millimeter wide.

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