California State Teachers Retirement System Purchases 11,871 Shares of Glaukos Corporation $GKOS

Key Points

• California State Teachers Retirement System increased its Glaukos stake by 21.8%, purchasing 11,871 shares in the first quarter and bringing its holdings to 66,434 shares valued at approximately $7.15 million. Institutional investors collectively own 99.04% of the company.
• Glaukos reported stronger-than-expected quarterly results, with revenue rising 49.6% year over year to $185.61 million and an adjusted loss of $0.14 per share, beating analyst estimates by $0.07.
• Analyst sentiment remains positive, with 12 Buy ratings and an average price target of $177.33, while company insiders have sold 40,525 shares worth about $6.12 million over the past 90 days.

California State Teachers Retirement System lifted its position in Glaukos Corporation (NYSE:GKOS - Free Report) by 21.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 66,434 shares of the medical instruments supplier's stock after buying an additional 11,871 shares during the period. California State Teachers Retirement System owned about 0.11% of Glaukos worth $7,152,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. First Horizon Corp raised its holdings 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 acquiring an additional 223 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in Glaukos during the 4th quarter valued at $28,000. Larson Financial Group LLC boosted its stake in Glaukos by 62.0% during the 4th 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 last quarter. Parallel Advisors LLC raised its stake in shares of Glaukos by 159.2% in the first quarter. Parallel Advisors LLC now owns 368 shares of the medical instruments supplier's stock worth $40,000 after purchasing an additional 226 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Glaukos by 111.4% during the fourth quarter. Farther Finance Advisors LLC now owns 408 shares of the medical instruments supplier's stock valued at $46,000 after purchasing an additional 215 shares in the last quarter. Hedge funds and other institutional investors own 99.04% of the company's stock.

Glaukos Stock Up 0.0%

GKOS stock opened at $170.60 on Thursday. The company has a market cap of $10.06 billion, a price-to-earnings ratio of -52.49 and a beta of 0.78. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.46 and a current ratio of 5.04. The business's 50-day moving average is $141.42 and its two-hundred day moving average is $126.46. Glaukos Corporation has a fifty-two week low of $73.16 and a fifty-two week high of $184.00.

Glaukos (NYSE:GKOS - Get Free Report) last released its quarterly earnings results 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 net margin of 30.68% and a negative return on equity of 6.37%. The firm had revenue of $185.61 million during the quarter, compared to analyst estimates of $150.93 million. During the same quarter in the prior year, the firm earned ($0.24) EPS. The business's revenue for the quarter was up 49.6% compared to the same quarter last year. As a group, analysts forecast that Glaukos Corporation will post -0.35 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Alex R. Thurman sold 10,000 shares of the company's stock in a transaction on Thursday, July 16th. The stock was sold at an average price of $160.00, for a total value of $1,600,000.00. Following the completion of the sale, the chief financial officer directly owned 43,906 shares in the company, valued at $7,024,960. This represents a 18.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 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 on Thursday, May 14th. The shares were sold at an average price of $140.76, for a total value of $703,800.00. Following the transaction, the director owned 35,528 shares in the company, valued at $5,000,921.28. This trade represents a 12.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 40,525 shares of company stock worth $6,116,806. Company insiders own 5.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on GKOS shares. Citigroup lifted their price objective on Glaukos from $175.00 to $188.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Truist Financial upped their target price on shares of Glaukos from $180.00 to $215.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. BTIG Research raised their price target on shares of Glaukos from $164.00 to $193.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Needham & Company LLC lifted their price target on shares of Glaukos from $150.00 to $201.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. Finally, William Blair reissued an "outperform" rating on shares of Glaukos in a report on Tuesday, May 26th. Twelve investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently 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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