Alliancebernstein L.P. Increases Stake in Glaukos Corporation $GKOS

Key Points

• Alliancebernstein L.P. increased its stake in Glaukos Corporation by 56.5% in Q1, now owning 1,277,539 shares valued at approximately $125.7 million.
• Glaukos reported a revenue of $124.12 million for the last quarter, exceeding estimates by nearly $9 million, with a year-over-year revenue growth of 29.7%.
• Wall Street analysts have a consensus price target of $127.42 for Glaukos, with a majority rating the stock as a "Moderate Buy".

Alliancebernstein L.P. grew its position in Glaukos Corporation (NYSE:GKOS - Free Report) by 56.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,277,539 shares of the medical instruments supplier's stock after acquiring an additional 461,386 shares during the quarter. Alliancebernstein L.P. owned 2.24% of Glaukos worth $125,735,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of GKOS. Wellington Management Group LLP grew its holdings in Glaukos by 6.1% during the 1st quarter. Wellington Management Group LLP now owns 2,290,790 shares of the medical instruments supplier's stock valued at $225,460,000 after purchasing an additional 131,251 shares during the last quarter. Primecap Management Co. CA boosted its position in shares of Glaukos by 0.3% during the first quarter. Primecap Management Co. CA now owns 1,218,475 shares of the medical instruments supplier's stock valued at $119,922,000 after buying an additional 4,150 shares during the period. Westfield Capital Management Co. LP grew its stake in shares of Glaukos by 34.3% during the first 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 buying an additional 277,033 shares during the last quarter. Driehaus Capital Management LLC grew its stake in shares of Glaukos by 18.7% during the first quarter. Driehaus Capital Management LLC now owns 973,625 shares of the medical instruments supplier's stock valued at $95,824,000 after buying an additional 153,502 shares during the last quarter. Finally, Braidwell LP raised its holdings in shares of Glaukos by 116.2% in the first quarter. Braidwell LP now owns 624,435 shares of the medical instruments supplier's stock worth $61,457,000 after buying an additional 335,559 shares during the period. 99.04% of the stock is owned by hedge funds and other institutional investors.

Glaukos Stock Performance

Shares of NYSE GKOS traded down $2.65 during midday trading on Wednesday, reaching $88.26. The company had a trading volume of 202,320 shares, compared to its average volume of 928,003. The business's 50-day simple moving average is $94.54 and its 200 day simple moving average is $96.40. The company has a current ratio of 5.51, a quick ratio of 4.69 and a debt-to-equity ratio of 0.09. The stock has a market cap of $5.06 billion, a P/E ratio of -53.42 and a beta of 0.77. Glaukos Corporation has a 1 year low of $77.10 and a 1 year 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) EPS for the quarter, topping analysts' consensus estimates of ($0.26) by $0.02. The business had revenue of $124.12 million for the quarter, compared to analysts' expectations of $115.49 million. Glaukos had a negative net margin of 21.43% and a negative return on equity of 8.59%. The business's revenue was up 29.7% on a year-over-year basis. During the same quarter last year, the company earned ($0.52) EPS. Glaukos has set its FY 2025 guidance at EPS. On average, analysts forecast that Glaukos Corporation will post -1.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on GKOS shares. BTIG Research reaffirmed a "buy" rating and set a $118.00 target price on shares of Glaukos in a research report on Wednesday. Zacks Research cut Glaukos from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 15th. UBS Group lifted their target price on Glaukos from $125.00 to $134.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Mizuho set a $130.00 target price on Glaukos in a report on Thursday, July 31st. Finally, Wells Fargo & Company raised their price target on Glaukos from $86.00 to $92.00 and gave the company an "equal weight" rating in a research note on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $124.83.

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.