Allspring Global Investments Holdings LLC Raises Holdings in Glaukos Corporation $GKOS

Key Points

• Allspring Global Investments boosted its Glaukos stake by 10.9% in the first quarter, bringing its holdings to 393,831 shares valued at about $44.4 million. The article also notes that hedge funds and other institutional investors own 99.04% of the stock.
• Wall Street sentiment remains positive on Glaukos, with several analysts raising price targets; the stock now has a consensus rating of “Moderate Buy” and an average target price of $154.85. Recent upgrades included JPMorgan, Stifel, Wells Fargo, and Truist.
• Glaukos reported better-than-expected first-quarter results, posting a smaller-than-expected loss of $0.18 per share and revenue of $150.57 million, up 41.2% year over year. Despite that strength, company insiders sold shares recently, including COO Joseph E. Gilliam and Director Leana Wen.

Allspring Global Investments Holdings LLC increased its holdings in shares of Glaukos Corporation (NYSE:GKOS - Free Report) by 10.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 393,831 shares of the medical instruments supplier's stock after purchasing an additional 38,552 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.67% of Glaukos worth $44,361,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. First Horizon Corp raised its position in Glaukos by 1,715.4% in the 4th quarter. First Horizon Corp now owns 236 shares of the medical instruments supplier's stock worth $27,000 after buying an additional 223 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in Glaukos during the fourth quarter valued at approximately $28,000. Larson Financial Group LLC lifted its position in Glaukos by 62.0% during the fourth quarter. Larson Financial Group LLC now owns 345 shares of the medical instruments supplier's stock valued at $39,000 after purchasing an additional 132 shares during the period. Farther Finance Advisors LLC boosted its holdings in Glaukos by 111.4% in the fourth quarter. Farther Finance Advisors LLC now owns 408 shares of the medical instruments supplier's stock worth $46,000 after purchasing an additional 215 shares during the last quarter. Finally, Salomon & Ludwin LLC boosted its holdings in Glaukos by 111.2% in the fourth quarter. Salomon & Ludwin LLC now owns 454 shares of the medical instruments supplier's stock worth $51,000 after purchasing an additional 239 shares during the last quarter. 99.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on GKOS shares. JPMorgan Chase & Co. increased their price target on Glaukos from $120.00 to $140.00 and gave the company an "overweight" rating in a report on Thursday, April 30th. Stifel Nicolaus lifted their price objective on Glaukos from $170.00 to $175.00 and gave the stock a "buy" rating in a report on Friday. Wells Fargo & Company upped their price objective on Glaukos from $135.00 to $138.00 and gave the company an "overweight" rating in a research report on Thursday, April 30th. William Blair reissued an "outperform" rating on shares of Glaukos in a report on Tuesday, May 26th. Finally, Truist Financial raised their target price on Glaukos from $160.00 to $180.00 and gave the stock a "buy" rating in a research report on Thursday. Thirteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $154.85.

Glaukos Stock Up 1.0%

NYSE GKOS opened at $156.97 on Friday. The stock's 50-day moving average price is $134.39 and its 200-day moving average price is $122.04. The company has a quick ratio of 4.73, a current ratio of 5.43 and a debt-to-equity ratio of 0.10. Glaukos Corporation has a 52 week low of $73.16 and a 52 week high of $161.53. The company has a market capitalization of $9.22 billion, a P/E ratio of -47.86 and a beta of 0.75.

Glaukos (NYSE:GKOS - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The medical instruments supplier reported ($0.18) earnings per share for the quarter, topping analysts' consensus estimates of ($0.30) by $0.12. The business had revenue of $150.57 million during the quarter, compared to analyst estimates of $137.00 million. Glaukos had a negative net margin of 34.34% and a negative return on equity of 6.92%. The company's revenue was up 41.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.22) earnings per share. On average, equities research analysts predict that Glaukos Corporation will post -0.57 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Joseph E. Gilliam sold 19,573 shares of Glaukos stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $143.54, for a total value of $2,809,508.42. Following the sale, the chief operating officer directly owned 73,419 shares of the company's stock, valued at approximately $10,538,563.26. The trade was a 21.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Leana Wen sold 1,700 shares of the business's stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $143.35, for a total value of $243,695.00. Following the completion of the sale, the director owned 19,739 shares in the company, valued at $2,829,585.65. This represents a 7.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 61,273 shares of company stock worth $8,882,003 over the last quarter. Company insiders own 5.90% of the company's stock.

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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