Glaukos Corporation $GKOS Stock Holdings Lifted by Comerica Bank

Key Points

• Comerica Bank increased its stake in Glaukos Corporation by 31.5% in the first quarter, now holding 199,301 shares valued at approximately $19.6 million.
• Analysts have varied ratings for GKOS, with targets ranging from $72.00 to $140.00, and a consensus average price target of $127.42.
• Glaukos reported a quarterly revenue increase of 29.7% from the previous year, posting earnings of $124.12 million and beating analyst estimates for earnings per share.

Comerica Bank boosted its position in shares of Glaukos Corporation (NYSE:GKOS - Free Report) by 31.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 199,301 shares of the medical instruments supplier's stock after buying an additional 47,763 shares during the period. Comerica Bank owned 0.35% of Glaukos worth $19,615,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in GKOS. Nuveen LLC purchased a new stake in shares of Glaukos during the first quarter worth approximately $31,474,000. Westfield Capital Management Co. LP increased its position in shares of Glaukos by 34.3% during the 1st quarter. Westfield Capital Management Co. LP now owns 1,084,184 shares of the medical instruments supplier's stock worth $106,705,000 after purchasing an additional 277,033 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Glaukos by 6.1% during the first quarter. Wellington Management Group LLP now owns 2,290,790 shares of the medical instruments supplier's stock worth $225,460,000 after buying an additional 131,251 shares during the period. GAMMA Investing LLC lifted its holdings in Glaukos by 5,912.8% during the 1st quarter. GAMMA Investing LLC now owns 133,064 shares of the medical instruments supplier's stock worth $13,096,000 after buying an additional 130,851 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Glaukos in the 4th quarter valued at about $12,367,000. 99.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GKOS has been the topic of several recent research reports. BTIG Research reissued a "buy" rating on shares of Glaukos in a research note on Monday, July 14th. Wells Fargo & Company increased their price target on shares of Glaukos from $86.00 to $92.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. Morgan Stanley dropped their price objective on shares of Glaukos from $110.00 to $72.00 and set an "underweight" rating for the company in a research report on Tuesday, May 6th. William Blair upgraded Glaukos to a "strong-buy" rating in a report on Thursday, July 31st. Finally, Mizuho set a $130.00 price target on Glaukos in a report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $127.42.

Glaukos Stock Down 0.7%

Shares of GKOS traded down $0.70 during midday trading on Friday, hitting $95.86. The company had a trading volume of 488,453 shares, compared to its average volume of 846,228. The company's 50 day moving average price is $95.62 and its 200 day moving average price is $99.17. The stock has a market cap of $5.50 billion, a price-to-earnings ratio of -58.10 and a beta of 0.78. Glaukos Corporation has a 52 week low of $77.10 and a 52 week high of $163.71. The company has a quick ratio of 4.69, a current ratio of 5.51 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) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.02. The company had revenue of $124.12 million during the quarter, compared to the consensus estimate of $115.49 million. Glaukos had a negative net margin of 21.43% and a negative return on equity of 8.59%. The company's revenue was up 29.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.52) EPS. Glaukos has set its FY 2025 guidance at EPS. On average, equities research analysts predict that Glaukos Corporation will post -1.08 EPS for the current year.

Glaukos Profile

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.