29,931 Shares in Glaukos Corporation $GKOS Purchased by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company initiated a position in Glaukos by purchasing 29,931 shares worth approximately $4.18 million. Institutional investors collectively own 99.04% of the company.
• Glaukos reported stronger-than-expected quarterly results, with revenue of $185.61 million—up 49.6% year over year—and a loss of $0.14 per share versus the consensus loss estimate of $0.21.
• Analyst sentiment is broadly positive, with 12 Buy ratings, one Hold and one Sell, producing a “Moderate Buy” consensus and an average price target of $178.08. However, insiders sold 113,025 shares worth $19.6 million over the past three months.

The Manufacturers Life Insurance Company purchased a new position in Glaukos Corporation (NYSE:GKOS - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 29,931 shares of the medical instruments supplier's stock, valued at approximately $4,183,000. The Manufacturers Life Insurance Company owned 0.05% of Glaukos at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. AQR Capital Management LLC grew its position in Glaukos by 2.6% during the 1st quarter. AQR Capital Management LLC now owns 7,788 shares of the medical instruments supplier's stock worth $766,000 after purchasing an additional 198 shares during the period. Jones Financial Companies Lllp lifted its holdings in shares of Glaukos by 1,405.9% in the 1st quarter. Jones Financial Companies Lllp now owns 2,560 shares of the medical instruments supplier's stock valued at $252,000 after buying an additional 2,390 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Glaukos by 41.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 229,994 shares of the medical instruments supplier's stock worth $22,636,000 after buying an additional 67,668 shares during the last quarter. M&T Bank Corp purchased a new stake in shares of Glaukos in the second quarter worth about $203,000. Finally, Gamco Investors INC. ET AL grew its holdings in Glaukos by 10.7% during the second quarter. Gamco Investors INC. ET AL now owns 8,001 shares of the medical instruments supplier's stock worth $826,000 after acquiring an additional 773 shares during the period. 99.04% of the stock is owned by hedge funds and other institutional investors.

Glaukos Price Performance

Shares of Glaukos stock opened at $177.27 on Wednesday. The business has a 50 day simple moving average of $164.45 and a two-hundred day simple moving average of $135.05. Glaukos Corporation has a 12 month low of $73.16 and a 12 month high of $191.62. The stock has a market capitalization of $10.46 billion, a P/E ratio of -54.54 and a beta of 0.76. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.04 and a quick ratio of 4.46.

Glaukos (NYSE:GKOS - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The medical instruments supplier reported ($0.14) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.21) by $0.07. The firm had revenue of $185.61 million for the quarter, compared to analyst estimates of $150.93 million. Glaukos had a negative return on equity of 6.37% and a negative net margin of 30.68%.The business's revenue was up 49.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.24) earnings per share. As a group, analysts predict that Glaukos Corporation will post -0.32 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on GKOS shares. Piper Sandler restated an "overweight" rating and issued a $195.00 price objective (up from $165.00) on shares of Glaukos in a research report on Thursday, July 30th. Wells Fargo & Company increased their target price on Glaukos from $138.00 to $178.00 and gave the company an "overweight" rating in a research report on Thursday, July 30th. HC Wainwright lifted their price target on shares of Glaukos from $168.00 to $195.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Weiss Ratings reissued a "sell (d-)" rating on shares of Glaukos in a report on Friday, July 17th. Finally, Stifel Nicolaus upped their price objective on shares of Glaukos from $175.00 to $190.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Twelve equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $178.08.

Insider Buying and Selling at Glaukos

In related news, CFO Alex R. Thurman sold 20,000 shares of the company's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $180.13, for a total transaction of $3,602,600.00. Following the completion of the sale, the chief financial officer owned 43,906 shares of the company's stock, valued at approximately $7,908,787.78. This represents a 31.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gilbert H. Kliman sold 2,500 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $190.00, for a total transaction of $475,000.00. Following the completion of the sale, the director owned 37,406 shares of the company's stock, valued at approximately $7,107,140. The trade was a 6.26% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 113,025 shares of company stock valued at $19,600,006. Corporate insiders own 5.90% of the company's stock.

About Glaukos

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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