Algert Global LLC Cuts Holdings in Glaukos Corporation $GKOS

Key Points

• Algert Global LLC significantly reduced its holdings in Glaukos Corporation ($GKOS) by 67.4%, bringing its total shares to 6,131, valued at approximately $603,000 as of the latest quarter.
• Several institutional investors, including Dimensional Fund Advisors and Voya Investment Management, have increased their stakes in Glaukos, indicating a trend of growing interest among large financial entities.
• Glaukos reported a 29.7% increase in revenue year-over-year, with earnings of ($0.24) EPS, slightly beating analysts' expectations, despite returning a negative net margin.

Algert Global LLC lessened its stake in shares of Glaukos Corporation (NYSE:GKOS - Free Report) by 67.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,131 shares of the medical instruments supplier's stock after selling 12,690 shares during the period. Algert Global LLC's holdings in Glaukos were worth $603,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in GKOS. Nuveen LLC bought a new position in shares of Glaukos in the 1st quarter valued at about $31,474,000. Westfield Capital Management Co. LP lifted its holdings in shares of Glaukos by 34.3% in the 1st quarter. Westfield Capital Management Co. LP now owns 1,084,184 shares of the medical instruments supplier's stock valued at $106,705,000 after acquiring an additional 277,033 shares during the last quarter. Gilder Gagnon Howe & Co. LLC lifted its holdings in shares of Glaukos by 25.3% in the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 825,276 shares of the medical instruments supplier's stock valued at $123,742,000 after acquiring an additional 166,677 shares during the last quarter. Voya Investment Management LLC lifted its holdings in shares of Glaukos by 266.2% in the 4th quarter. Voya Investment Management LLC now owns 200,698 shares of the medical instruments supplier's stock valued at $30,093,000 after acquiring an additional 145,890 shares during the last quarter. Finally, Comerica Bank lifted its holdings in shares of Glaukos by 664.5% in the 4th quarter. Comerica Bank now owns 151,538 shares of the medical instruments supplier's stock valued at $22,722,000 after acquiring an additional 131,715 shares during the last quarter. Institutional investors own 99.04% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Zacks Research downgraded shares of Glaukos from a "strong-buy" rating to a "hold" rating in a report on Friday, August 15th. Morgan Stanley lowered their price target on shares of Glaukos from $110.00 to $72.00 and set an "underweight" rating for the company in a report on Tuesday, May 6th. UBS Group increased their price target on shares of Glaukos from $125.00 to $134.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Wells Fargo & Company raised their price objective on shares of Glaukos from $86.00 to $92.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. Finally, William Blair raised shares of Glaukos to a "strong-buy" rating in a research note on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $127.42.

Glaukos Trading Down 0.7%

Shares of NYSE:GKOS traded down $0.70 during trading on Friday, reaching $95.86. 488,453 shares of the company were exchanged, compared to its average volume of 846,228. The firm has a market capitalization of $5.50 billion, a PE ratio of -58.10 and a beta of 0.78. The business's fifty day simple moving average is $95.62 and its 200-day simple moving average is $99.48. The company has a debt-to-equity ratio of 0.09, a current ratio of 5.51 and a quick ratio of 4.69. Glaukos Corporation has a 12-month low of $77.10 and a 12-month high of $163.71.

Glaukos (NYSE:GKOS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The medical instruments supplier reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.02. The company had revenue of $124.12 million for the quarter, compared to analyst estimates of $115.49 million. Glaukos had a negative net margin of 21.43% and a negative return on equity of 8.59%. Glaukos's revenue was up 29.7% compared to the same quarter last year. During the same period last year, the company posted ($0.52) earnings per share. Glaukos has set its FY 2025 guidance at EPS. On average, research analysts anticipate that Glaukos Corporation will post -1.08 EPS for the current year.

Glaukos Company Profile

Glaukos Corporation, an ophthalmic pharmaceutical and medical technology company, focuses on the development of novel therapies for the treatment of glaucoma, corneal disorders, and retinal diseases. It offers iStent and iStent inject W micro-bypass stents that enhance aqueous humor outflow inserted in cataract surgery to treat mild-to-moderate open-angle glaucoma.