Assenagon Asset Management S.A. Has $15.20 Million Stock Position in Glaukos Corporation $GKOS

Key Points

• Assenagon Asset Management increased its Glaukos stake by 932.5% in the second quarter, owning 108,736 shares worth approximately $15.2 million. Institutional investors collectively own 99.04% of the company.
• Glaukos reported a strong quarter, with revenue rising 49.6% year over year to $185.61 million and an adjusted loss of $0.14 per share, beating analyst expectations.
• GKOS shares opened at $180.42, near their 12-month high, while analysts maintained a generally positive outlook: 12 of 15 analysts rate the stock a Buy, with an average price target of $177.33. Company insiders, however, sold $5.44 million of stock over the past 90 days.

Assenagon Asset Management S.A. increased its position in Glaukos Corporation (NYSE:GKOS - Free Report) by 932.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 108,736 shares of the medical instruments supplier's stock after buying an additional 98,205 shares during the period. Assenagon Asset Management S.A. owned 0.19% of Glaukos worth $15,197,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Stephens Inc. AR purchased a new position in shares of Glaukos during the first quarter valued at approximately $363,000. DNB Asset Management AS grew its holdings in Glaukos by 11.9% during the fourth quarter. DNB Asset Management AS now owns 82,320 shares of the medical instruments supplier's stock worth $9,295,000 after buying an additional 8,770 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Glaukos by 209.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,350,425 shares of the medical instruments supplier's stock valued at $152,476,000 after buying an additional 913,458 shares during the last quarter. Norges Bank purchased a new stake in Glaukos in the 4th quarter valued at $60,536,000. Finally, Landscape Capital Management L.L.C. lifted its stake in Glaukos by 125.3% during the 4th quarter. Landscape Capital Management L.L.C. now owns 23,017 shares of the medical instruments supplier's stock valued at $2,599,000 after acquiring an additional 12,799 shares in the last quarter. 99.04% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Alex R. Thurman sold 10,000 shares of the stock in a transaction on Thursday, July 16th. The stock was sold at an average price of $160.00, for a total transaction of $1,600,000.00. Following the completion of the transaction, the chief financial officer owned 43,906 shares in the company, valued at approximately $7,024,960. This represents a 18.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gilbert H. Kliman sold 5,000 shares of Glaukos stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $140.76, for a total value of $703,800.00. Following the completion of the sale, the director directly owned 35,528 shares of the company's stock, valued at approximately $5,000,921.28. This trade represents a 12.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 35,525 shares of company stock valued at $5,441,806 in the last 90 days. Insiders own 5.90% of the company's stock.

Glaukos Trading Up 0.2%

Shares of GKOS stock opened at $180.42 on Tuesday. The company has a 50 day moving average of $145.79 and a 200-day moving average of $127.64. The company has a quick ratio of 4.46, a current ratio of 5.04 and a debt-to-equity ratio of 0.10. Glaukos Corporation has a 12-month low of $73.16 and a 12-month high of $184.00. The firm has a market cap of $10.64 billion, a P/E ratio of -55.51 and a beta of 0.78.

Glaukos (NYSE:GKOS - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The medical instruments supplier reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.07. Glaukos had a negative return on equity of 6.37% and a negative net margin of 30.68%.The business had revenue of $185.61 million for the quarter, compared to the consensus estimate of $150.93 million. During the same quarter in the prior year, the business earned ($0.24) earnings per share. Glaukos's revenue for the quarter was up 49.6% on a year-over-year basis. Sell-side analysts anticipate that Glaukos Corporation will post -0.35 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on GKOS shares. William Blair reiterated an "outperform" rating on shares of Glaukos in a research note on Tuesday, May 26th. Wells Fargo & Company raised their price target on shares of Glaukos from $138.00 to $178.00 and gave the company an "overweight" rating in a research report on Thursday, July 30th. Citigroup boosted their price target on shares of Glaukos from $175.00 to $188.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Stifel Nicolaus upped their price objective on shares of Glaukos from $175.00 to $190.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Glaukos in a research note on Friday, July 17th. Twelve investment analysts have rated the stock with 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 stock has an average rating of "Moderate Buy" and an average price target of $177.33.

About Glaukos

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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