Alliancebernstein L.P. Purchases 461,386 Shares of 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. increased its position in Glaukos Corporation (NYSE:GKOS - Free Report) by 56.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,277,539 shares of the medical instruments supplier's stock after purchasing an additional 461,386 shares during the quarter. Alliancebernstein L.P. owned approximately 2.24% of Glaukos worth $125,735,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Wellington Management Group LLP raised its holdings in shares of Glaukos by 6.1% in 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 period. Primecap Management Co. CA raised its holdings in shares of Glaukos by 0.3% in the 1st quarter. Primecap Management Co. CA now owns 1,218,475 shares of the medical instruments supplier's stock valued at $119,922,000 after purchasing an additional 4,150 shares during the period. Westfield Capital Management Co. LP raised 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 purchasing an additional 277,033 shares during the period. Driehaus Capital Management LLC raised its holdings in shares of Glaukos by 18.7% in the 1st quarter. Driehaus Capital Management LLC now owns 973,625 shares of the medical instruments supplier's stock valued at $95,824,000 after purchasing an additional 153,502 shares during the period. Finally, Braidwell LP raised its holdings in shares of Glaukos by 116.2% in the 1st quarter. Braidwell LP now owns 624,435 shares of the medical instruments supplier's stock valued at $61,457,000 after purchasing an additional 335,559 shares during the period. 99.04% of the stock is owned by institutional investors.

Glaukos Stock Performance

NYSE GKOS traded up $3.59 during trading on Friday, reaching $93.73. The company's stock had a trading volume of 758,743 shares, compared to its average volume of 666,210. 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 firm has a market capitalization of $5.38 billion, a price-to-earnings ratio of -56.81 and a beta of 0.77. Glaukos Corporation has a 12 month low of $77.10 and a 12 month high of $163.71. The firm has a 50 day moving average price of $95.00 and a 200 day moving average price of $96.68.

Glaukos (NYSE:GKOS - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The medical instruments supplier reported ($0.24) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.26) by $0.02. The firm had revenue of $124.12 million during the quarter, compared to the consensus estimate 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 for the quarter was up 29.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.52) EPS. Glaukos has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that Glaukos Corporation will post -1.08 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on GKOS shares. Wells Fargo & Company upped their target price on shares of Glaukos from $86.00 to $92.00 and gave the company an "equal weight" rating in a report on Thursday, July 31st. UBS Group upped their price target on shares of Glaukos from $125.00 to $134.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. BTIG Research reiterated a "buy" rating on shares of Glaukos in a research note on Monday, July 14th. William Blair upgraded shares of Glaukos to a "strong-buy" rating in a research note on Thursday, July 31st. Finally, Mizuho set a $130.00 price target on shares of Glaukos in a research note on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $127.42.

Glaukos 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.