Assenagon Asset Management S.A. Has $1.13 Million Stock Position in Glaukos Corporation $GKOS

Key Points

• Assenagon Asset Management sharply cut its Glaukos stake by 94.2% in the first quarter, leaving it with 10,531 shares worth about $1.13 million.
• Glaukos reported better-than-expected quarterly results, with EPS of -$0.18 versus an expected -$0.30 and revenue of $150.57 million, up 41.2% year over year.
• Analyst sentiment remains mostly positive: the stock has a Moderate Buy consensus rating with an average price target of $149.17, though a few firms have been more cautious.

Assenagon Asset Management S.A. lessened its stake in Glaukos Corporation (NYSE:GKOS - Free Report) by 94.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,531 shares of the medical instruments supplier's stock after selling 171,862 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Glaukos were worth $1,134,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP lifted its stake in shares of Glaukos by 10.4% during the third quarter. Wellington Management Group LLP now owns 3,580,670 shares of the medical instruments supplier's stock valued at $292,004,000 after acquiring an additional 336,266 shares during the period. Primecap Management Co. CA increased its position in Glaukos by 49.8% in the fourth quarter. Primecap Management Co. CA now owns 3,376,928 shares of the medical instruments supplier's stock worth $381,289,000 after purchasing an additional 1,123,140 shares during the period. Janus Henderson Group PLC raised its holdings in Glaukos by 183.4% during the 4th quarter. Janus Henderson Group PLC now owns 3,018,787 shares of the medical instruments supplier's stock worth $340,855,000 after purchasing an additional 1,953,578 shares during the last quarter. State Street Corp raised its holdings in Glaukos by 0.9% during the 4th quarter. State Street Corp now owns 2,122,402 shares of the medical instruments supplier's stock worth $239,640,000 after purchasing an additional 18,040 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its position in Glaukos by 3.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,999,252 shares of the medical instruments supplier's stock valued at $206,503,000 after purchasing an additional 68,497 shares during the period. 99.04% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. BTIG Research reaffirmed a "buy" rating and issued a $162.00 target price on shares of Glaukos in a research note on Wednesday, June 10th. Weiss Ratings reissued a "sell (d-)" rating on shares of Glaukos in a research note on Tuesday, April 21st. Wall Street Zen lowered shares of Glaukos from a "buy" rating to a "hold" rating in a report on Sunday, June 21st. Stifel Nicolaus set a $170.00 price objective on shares of Glaukos in a research note on Thursday, April 30th. Finally, Needham & Company LLC lifted their target price on shares of Glaukos from $136.00 to $150.00 and gave the stock a "buy" rating in a report on Wednesday, June 17th. Twelve analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $149.17.

Glaukos Stock Performance

Shares of GKOS stock opened at $137.46 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.43 and a quick ratio of 4.73. The stock has a market cap of $8.07 billion, a PE ratio of -41.91 and a beta of 0.75. The stock has a 50-day moving average of $128.28 and a 200-day moving average of $118.88. Glaukos Corporation has a one year low of $73.16 and a one year high of $148.11.

Glaukos (NYSE:GKOS - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The medical instruments supplier reported ($0.18) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.12. The business had revenue of $150.57 million for 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%. Glaukos's quarterly revenue was up 41.2% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.22) EPS. As a group, sell-side analysts expect that Glaukos Corporation will post -0.57 earnings per share for the current year.

Insider Activity

In other Glaukos news, CFO Alex R. Thurman sold 10,000 shares of Glaukos stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $140.00, for a total transaction of $1,400,000.00. Following the transaction, the chief financial officer directly owned 43,681 shares in the company, valued at approximately $6,115,340. The trade was a 18.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 transaction, the chief operating officer owned 73,419 shares in the company, valued at approximately $10,538,563.26. This represents a 21.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 41,273 shares of company stock worth $5,832,003 over the last quarter. Corporate 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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