357,148 Shares in Glaukos Corporation $GKOS Purchased by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon purchased 357,148 Glaukos shares worth approximately $49.9 million, gaining a 0.61% stake. Institutional investors collectively own 99.04% of the company.
• Glaukos insiders sold 113,025 shares valued at about $19.6 million over the past three months, including substantial sales by a director and the COO.
• Analysts maintain a favorable outlook, with a consensus rating of “Moderate Buy” and a $178.08 price target. The company recently beat quarterly EPS estimates and reported 49.6% year-over-year revenue growth, while shares opened at $181.97.

Bank of New York Mellon Corp bought a new position in Glaukos Corporation (NYSE:GKOS - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 357,148 shares of the medical instruments supplier's stock, valued at approximately $49,915,000. Bank of New York Mellon Corp owned about 0.61% of Glaukos as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC acquired a new position in shares of Glaukos during the fourth quarter worth approximately $28,000. Larson Financial Group LLC increased its stake in Glaukos by 62.0% during the 4th quarter. Larson Financial Group LLC now owns 345 shares of the medical instruments supplier's stock valued at $39,000 after buying an additional 132 shares during the period. Parallel Advisors LLC raised its position in shares of Glaukos by 159.2% during the 1st quarter. Parallel Advisors LLC now owns 368 shares of the medical instruments supplier's stock worth $40,000 after buying an additional 226 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of Glaukos by 111.4% during the 4th quarter. Farther Finance Advisors LLC now owns 408 shares of the medical instruments supplier's stock worth $46,000 after buying an additional 215 shares in the last quarter. Finally, CWM LLC increased its stake in shares of Glaukos by 25.2% during the fourth quarter. CWM LLC now owns 710 shares of the medical instruments supplier's stock valued at $80,000 after acquiring an additional 143 shares during the period. 99.04% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Gilbert H. Kliman sold 2,500 shares of the business's stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $190.00, for a total value of $475,000.00. Following the completion of the sale, the director directly owned 37,406 shares in the company, valued at approximately $7,107,140. The trade was a 6.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Joseph E. Gilliam sold 60,000 shares of the company's stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $179.74, for a total transaction of $10,784,400.00. Following the sale, the chief operating officer directly owned 72,588 shares of the company's stock, valued at approximately $13,046,967.12. This represents a 45.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 113,025 shares of company stock valued at $19,600,006 in the last three months. 5.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Wells Fargo & Company lifted their target price on Glaukos from $138.00 to $178.00 and gave the stock an "overweight" rating in a report on Thursday, July 30th. Needham & Company LLC boosted their target price on shares of Glaukos from $150.00 to $201.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. BTIG Research upped their price target on Glaukos from $193.00 to $202.00 and gave the company a "buy" rating in a report on Thursday, August 20th. Wall Street Zen upgraded Glaukos from a "hold" rating to a "buy" rating in a report on Saturday, August 1st. Finally, JPMorgan Chase & Co. upped their price objective on shares of Glaukos from $120.00 to $140.00 and gave the company an "overweight" rating in a research note on Thursday, April 30th. Twelve research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Glaukos presently has a consensus rating of "Moderate Buy" and a consensus price target of $178.08.

Glaukos Stock Up 0.8%

GKOS opened at $181.97 on Friday. The company has a market capitalization of $10.73 billion, a PE ratio of -55.99 and a beta of 0.78. 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 Corporation has a fifty-two week low of $73.16 and a fifty-two week high of $191.62. The business has a 50-day moving average of $161.66 and a 200-day moving average of $133.63.

Glaukos (NYSE:GKOS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The medical instruments supplier reported ($0.14) earnings per share for the quarter, beating 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 analyst estimates of $150.93 million. During the same quarter last year, the firm earned ($0.24) earnings per share. The company's revenue for the quarter was up 49.6% on a year-over-year basis. Equities research analysts forecast that Glaukos Corporation will post -0.32 EPS for the current fiscal year.

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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