Bank of New York Mellon Corp Sells 12,667 Shares of Glaukos Corporation $GKOS

Key Points

• Bank of New York Mellon trimmed its Glaukos stake by 3.6% in the first quarter, selling 12,667 shares and leaving it with 343,173 shares valued at about $36.9 million.
• Insider selling has also been notable: directors Leana Wen and Gilbert H. Kliman sold shares recently, and insiders have sold 61,273 shares worth about $8.9 million over the last three months.
• Analysts remain mostly bullish on GKOS, with 13 Buy ratings and a consensus target price of $154.85, while the stock traded around $153.40 and the company recently beat quarterly earnings and revenue expectations.

Bank of New York Mellon Corp reduced its stake in shares of Glaukos Corporation (NYSE:GKOS - Free Report) by 3.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 343,173 shares of the medical instruments supplier's stock after selling 12,667 shares during the period. Bank of New York Mellon Corp owned approximately 0.58% of Glaukos worth $36,946,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP increased its holdings in Glaukos by 10.4% during the 3rd quarter. Wellington Management Group LLP now owns 3,580,670 shares of the medical instruments supplier's stock worth $292,004,000 after purchasing an additional 336,266 shares in the last quarter. Primecap Management Co. CA lifted its holdings in shares of 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 valued at $381,289,000 after purchasing an additional 1,123,140 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of Glaukos by 183.4% during the fourth quarter. Janus Henderson Group PLC now owns 3,018,787 shares of the medical instruments supplier's stock worth $340,855,000 after buying an additional 1,953,578 shares in the last quarter. State Street Corp grew its holdings in shares of Glaukos by 0.9% during the fourth quarter. State Street Corp now owns 2,122,402 shares of the medical instruments supplier's stock worth $239,640,000 after buying an additional 18,040 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Glaukos by 3.5% during the second quarter. Ameriprise Financial Inc. now owns 1,999,252 shares of the medical instruments supplier's stock worth $206,503,000 after buying an additional 68,497 shares in the last quarter. Institutional investors and hedge funds own 99.04% of the company's stock.

Insiders Place Their Bets

In other news, Director Leana Wen sold 1,700 shares of Glaukos stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $143.35, for a total transaction of $243,695.00. Following the completion of the transaction, the director directly owned 19,739 shares in the company, valued at approximately $2,829,585.65. The trade was a 7.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gilbert H. Kliman sold 5,000 shares of the business's stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $140.76, for a total value of $703,800.00. Following the transaction, the director directly owned 35,528 shares in the company, valued at $5,000,921.28. The trade was a 12.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 61,273 shares of company stock worth $8,882,003 in the last three months. 5.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have commented on GKOS. JPMorgan Chase & Co. boosted their target price on Glaukos from $120.00 to $140.00 and gave the company an "overweight" rating in a research note on Thursday, April 30th. Wells Fargo & Company lifted their price objective on shares of Glaukos from $135.00 to $138.00 and gave the company an "overweight" rating in a report on Thursday, April 30th. Stifel Nicolaus boosted their price objective on shares of Glaukos from $170.00 to $175.00 and gave the stock a "buy" rating in a research report on Friday, July 17th. Citigroup increased their target price on shares of Glaukos from $162.00 to $175.00 and gave the stock a "buy" rating in a report on Wednesday, July 8th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Glaukos in a research note on Friday, July 17th. Thirteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Glaukos has an average rating of "Moderate Buy" and a consensus target price of $154.85.

Glaukos Stock Performance

NYSE GKOS opened at $153.40 on Friday. The firm has a market capitalization of $9.01 billion, a P/E ratio of -46.77 and a beta of 0.75. The company has a current ratio of 5.43, a quick ratio of 4.73 and a debt-to-equity ratio of 0.10. The firm's fifty day moving average price is $135.85 and its two-hundred day moving average price is $123.44. Glaukos Corporation has a 1 year low of $73.16 and a 1 year high of $161.53.

Glaukos (NYSE:GKOS - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The medical instruments supplier reported ($0.18) EPS for the quarter, beating analysts' consensus estimates of ($0.30) by $0.12. The company had revenue of $150.57 million during the quarter, compared to the consensus estimate 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 quarterly revenue was up 41.2% on a year-over-year basis. During the same quarter last year, the firm posted ($0.22) EPS. As a group, research analysts anticipate that Glaukos Corporation will post -0.57 EPS for the current year.

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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