145,202 Shares in Glaukos Corporation $GKOS Bought by TimesSquare Capital Management LLC

Key Points

• TimesSquare Capital Management acquired 145,202 Glaukos shares worth approximately $20.3 million, giving it a 0.25% stake. Institutional investors collectively own 99.04% of the company.
• Glaukos reported quarterly revenue of $185.6 million, up 49.6% year over year, and an adjusted loss of $0.14 per share that beat estimates. Shares opened at $185.05, near the company’s 52-week high of $190.
• Analysts remain broadly positive, with 12 Buy ratings, one Hold and one Sell; the consensus rating is “Moderate Buy” with a $177.33 price target. Meanwhile, insiders sold $19.1 million worth of shares over the past three months.

TimesSquare Capital Management LLC acquired a new position in Glaukos Corporation (NYSE:GKOS - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 145,202 shares of the medical instruments supplier's stock, valued at approximately $20,293,000. TimesSquare Capital Management LLC owned approximately 0.25% of Glaukos at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in GKOS. Bank of New York Mellon Corp bought a new stake in shares of Glaukos during the 2nd quarter valued at $49,915,000. State of Wyoming purchased a new stake in shares of Glaukos in the 2nd quarter worth about $135,000. Summit Global Investments bought a new position in shares of Glaukos in the 2nd quarter worth about $580,000. Oppenheimer Asset Management Inc. bought a new position in shares of Glaukos in the 2nd quarter worth about $2,734,000. Finally, Walleye Capital LLC purchased a new position in Glaukos during the 2nd quarter valued at about $3,750,000. Institutional investors own 99.04% of the company's stock.

Glaukos Stock Performance

Shares of GKOS stock opened at $185.05 on Tuesday. Glaukos Corporation has a one year low of $73.16 and a one year high of $190.00. The company's 50-day moving average is $152.50 and its 200 day moving average is $129.86. The company has a market capitalization of $10.91 billion, a price-to-earnings ratio of -56.94 and a beta of 0.78. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.46 and a current ratio of 5.04.

Glaukos (NYSE:GKOS - Get Free Report) last issued its earnings results on Wednesday, July 29th. The medical instruments supplier reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.07. Glaukos had a negative net margin of 30.68% and a negative return on equity of 6.37%. The firm had revenue of $185.61 million for the quarter, compared to the consensus estimate of $150.93 million. During the same quarter in the prior year, the firm posted ($0.24) earnings per share. The business's revenue was up 49.6% on a year-over-year basis. Sell-side analysts expect that Glaukos Corporation will post -0.35 EPS for the current fiscal year.

Insider Buying and Selling

In other Glaukos news, Director Leana Wen sold 525 shares of the stock in a transaction on Friday, July 31st. The stock was sold at an average price of $167.63, for a total transaction of $88,005.75. Following the sale, the director directly owned 21,092 shares in the company, valued at approximately $3,535,651.96. This trade represents a 2.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Joseph E. Gilliam sold 60,000 shares of Glaukos stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $179.74, for a total value of $10,784,400.00. Following the completion of the sale, the chief operating officer directly owned 72,588 shares of the company's stock, valued at approximately $13,046,967.12. The trade was a 45.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 110,525 shares of company stock worth $19,125,006 in the last three months. Insiders own 5.90% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on GKOS shares. Piper Sandler reissued an "overweight" rating and set a $195.00 price objective (up from $165.00) on shares of Glaukos in a research note on Thursday, July 30th. UBS Group started coverage on shares of Glaukos in a research note on Tuesday, July 28th. They set a "neutral" rating and a $150.00 target price for the company. Truist Financial lifted their target price on shares of Glaukos from $180.00 to $215.00 and gave the company a "buy" rating in a report on Thursday, July 30th. JPMorgan Chase & Co. boosted their price target on Glaukos from $120.00 to $140.00 and gave the stock an "overweight" rating in a research report on Thursday, April 30th. Finally, BTIG Research upped their price target on Glaukos from $164.00 to $193.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. Twelve research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $177.33.

Glaukos Company Profile

Glaukos Corporation is a medical technology company specializing in the development, manufacturing and commercialization of innovative therapies for patients with glaucoma and other chronic eye diseases. The company's core offerings focus on micro-invasive glaucoma surgery (MIGS), designed to reduce intraocular pressure and manage glaucoma more safely and effectively than traditional surgical approaches. Glaukos's flagship products include the iStent, iStent inject and iStent infinite trabecular micro-bypass stents, which are implanted during cataract surgery to improve aqueous outflow and help control eye pressure.

Beyond its MIGS portfolio, Glaukos has expanded into sustained drug-delivery solutions.

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