Glaukos Corporation $GKOS Shares Purchased by Atika Capital Management LLC

Key Points

• Atika Capital Management LLC increased its stake in Glaukos Corporation by 10.0%, now holding 263,500 shares valued at approximately $25.9 million, making it the fund's 9th largest position.
• Institutional investors comprise 99.04% of Glaukos' stock ownership, with several funds, including Wellington Management Group and Westfield Capital Management, also increasing their shares during the first quarter.
• Glaukos reported a revenue increase of 29.7% year-over-year in its latest earnings, surpassing analysts' expectations, yet posted a loss per share of ($0.24), with a projected EPS of -1.08 for the current year.

Atika Capital Management LLC raised its holdings in Glaukos Corporation (NYSE:GKOS - Free Report) by 10.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 263,500 shares of the medical instruments supplier's stock after acquiring an additional 24,000 shares during the quarter. Glaukos comprises approximately 3.6% of Atika Capital Management LLC's holdings, making the stock its 9th largest position. Atika Capital Management LLC owned about 0.46% of Glaukos worth $25,934,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Bessemer Group Inc. lifted its stake in Glaukos by 133.9% in the first quarter. Bessemer Group Inc. now owns 276 shares of the medical instruments supplier's stock valued at $27,000 after acquiring an additional 158 shares during the last quarter. Whipplewood Advisors LLC lifted its stake in Glaukos by 3,957.1% in the first quarter. Whipplewood Advisors LLC now owns 284 shares of the medical instruments supplier's stock valued at $28,000 after acquiring an additional 277 shares during the last quarter. First Horizon Advisors Inc. lifted its stake in Glaukos by 72.9% in the first quarter. First Horizon Advisors Inc. now owns 377 shares of the medical instruments supplier's stock valued at $37,000 after acquiring an additional 159 shares during the last quarter. Versant Capital Management Inc lifted its stake in Glaukos by 583.9% in the first quarter. Versant Capital Management Inc now owns 383 shares of the medical instruments supplier's stock valued at $38,000 after acquiring an additional 327 shares during the last quarter. Finally, CoreCap Advisors LLC lifted its stake in Glaukos by 36.4% in the fourth quarter. CoreCap Advisors LLC now owns 750 shares of the medical instruments supplier's stock valued at $112,000 after acquiring an additional 200 shares during the last quarter. 99.04% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GKOS has been the subject of a number of analyst reports. UBS Group lifted their target price 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 restated a "buy" rating on shares of Glaukos in a research note on Monday, July 14th. Truist Financial restated a "buy" rating and issued a $135.00 price objective (down from $140.00) on shares of Glaukos in a research note on Thursday, May 1st. Zacks Research cut shares of Glaukos from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 15th. Finally, Needham & Company LLC reduced their price objective on shares of Glaukos from $176.00 to $115.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $127.42.

Glaukos Stock Performance

NYSE:GKOS traded up $1.33 during trading hours on Tuesday, hitting $92.88. 137,342 shares of the company traded hands, compared to its average volume of 945,250. The stock has a market capitalization of $5.33 billion, a price-to-earnings ratio of -56.29 and a beta of 0.78. Glaukos Corporation has a twelve month low of $77.10 and a twelve month high of $163.71. The firm has a 50-day moving average of $96.09 and a 200 day moving average of $100.27. The company has a current ratio of 5.51, a quick ratio of 4.69 and a debt-to-equity ratio of 0.09.

Glaukos (NYSE:GKOS - Get Free Report) last released its earnings results on Wednesday, July 30th. The medical instruments supplier reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.02. The firm had revenue of $124.12 million during 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 quarterly revenue was up 29.7% compared to the same quarter last year. During the same period in the prior 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 EPS for the current year.

About Glaukos

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.