Cubist Systematic Strategies LLC Cuts Stake in Glaukos Co. (NYSE:GKOS)

Cubist Systematic Strategies LLC cut its holdings in Glaukos Co. (NYSE:GKOS – Get Rating) by 60.6% during the third quarter, Holdings Channel reports. The firm owned 11,515 shares of the medical instruments supplier’s stock after selling 17,732 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Glaukos were worth $613,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GKOS. Quadrant Capital Group LLC increased its holdings in shares of Glaukos by 262.4% in the third quarter. Quadrant Capital Group LLC now owns 1,011 shares of the medical instruments supplier’s stock worth $54,000 after purchasing an additional 732 shares during the last quarter. Captrust Financial Advisors increased its position in Glaukos by 119.5% in the first quarter. Captrust Financial Advisors now owns 1,484 shares of the medical instruments supplier’s stock worth $86,000 after purchasing an additional 808 shares during the last quarter. HighTower Advisors LLC purchased a new stake in shares of Glaukos during the 1st quarter valued at about $208,000. Everett Harris & Co. CA purchased a new position in Glaukos in the third quarter worth about $210,000. Finally, Prelude Capital Management LLC purchased a new position in Glaukos in the first quarter worth about $233,000. 92.17% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GKOS has been the subject of a number of research analyst reports. Mizuho began coverage on Glaukos in a research note on Thursday, December 22nd. They set a “neutral” rating and a $48.00 price target for the company. Stephens dropped their target price on shares of Glaukos from $69.00 to $68.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 28th. Needham & Company LLC decreased their target price on Glaukos from $58.00 to $57.00 and set a “buy” rating for the company in a research report on Thursday, February 23rd. JPMorgan Chase & Co. boosted their price target on shares of Glaukos from $42.00 to $48.00 and gave the company a “neutral” rating in a report on Thursday, February 23rd. Finally, Citigroup increased their price objective on shares of Glaukos from $57.00 to $59.00 and gave the company a “buy” rating in a research note on Thursday, February 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Glaukos currently has an average rating of “Hold” and a consensus price target of $56.67.

Glaukos Price Performance

Shares of NYSE GKOS opened at $45.36 on Friday. Glaukos Co. has a 52 week low of $33.33 and a 52 week high of $64.49. The company has a quick ratio of 5.61, a current ratio of 6.13 and a debt-to-equity ratio of 0.67. The firm has a market cap of $2.17 billion, a P/E ratio of -21.70 and a beta of 1.24. The business’s 50 day moving average price is $48.46 and its 200 day moving average price is $49.67.

Glaukos (NYSE:GKOS – Get Rating) last released its quarterly earnings data on Wednesday, February 22nd. The medical instruments supplier reported ($0.53) EPS for the quarter, beating the consensus estimate of ($0.56) by $0.03. Glaukos had a negative net margin of 35.07% and a negative return on equity of 18.51%. The business had revenue of $71.23 million for the quarter, compared to the consensus estimate of $67.71 million. On average, sell-side analysts expect that Glaukos Co. will post -2.38 earnings per share for the current year.

Glaukos Profile

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Glaukos Corp. is an ophthalmic medical technology and pharmaceutical company, which focuses on novel therapies for the treatment of glaucoma, corneal disorders and retinal diseases. It engages in development and commercialization of therapies across several end markets within ophthalmology. The company was founded by Olav B.