Corient Private Wealth LLC Purchases 28,160 Shares of Glaukos Corporation $GKOS

Key Points

• Corient Private Wealth dramatically boosted its Glaukos stake in Q4, buying 28,160 additional shares and raising its holdings by 999.3% to 30,978 shares worth about $3.5 million.
• Insider selling picked up recently, with directors Leana Wen and Gilbert H. Kliman selling shares; over the last three months, insiders sold 41,273 shares total worth about $5.83 million.
• Glaukos reported strong quarterly results, beating EPS and revenue estimates as revenue rose 41.2% year over year, while analysts remain mostly positive with a consensus rating of Moderate Buy and an average price target of $149.17.

Corient Private Wealth LLC lifted its position in shares of Glaukos Corporation (NYSE:GKOS - Free Report) by 999.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,978 shares of the medical instruments supplier's stock after purchasing an additional 28,160 shares during the period. Corient Private Wealth LLC owned 0.05% of Glaukos worth $3,498,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of GKOS. First Horizon Corp raised its position in Glaukos by 1,715.4% during the 4th quarter. First Horizon Corp now owns 236 shares of the medical instruments supplier's stock valued at $27,000 after purchasing an additional 223 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Glaukos in the 4th quarter worth approximately $28,000. Larson Financial Group LLC grew its position in shares of Glaukos by 62.0% in the 4th quarter. Larson Financial Group LLC now owns 345 shares of the medical instruments supplier's stock worth $39,000 after buying an additional 132 shares during the last quarter. Farther Finance Advisors LLC increased its stake 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 buying an additional 215 shares during the period. Finally, Salomon & Ludwin LLC increased its stake in shares of Glaukos by 111.2% during the fourth quarter. Salomon & Ludwin LLC now owns 454 shares of the medical instruments supplier's stock valued at $51,000 after buying an additional 239 shares during the period. 99.04% of the stock is owned by institutional investors.

Insider Buying and Selling at Glaukos

In other Glaukos news, Director Leana Wen sold 1,700 shares of the firm's stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $143.35, for a total transaction of $243,695.00. Following the completion of the transaction, the director owned 19,739 shares of the company's stock, valued at approximately $2,829,585.65. This trade represents a 7.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gilbert H. Kliman sold 5,000 shares of Glaukos stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $140.76, for a total transaction of $703,800.00. Following the transaction, the director owned 35,528 shares of the company's stock, valued at $5,000,921.28. The trade was a 12.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 41,273 shares of company stock worth $5,832,003. Insiders own 5.90% of the company's stock.

Glaukos Price Performance

GKOS opened at $144.37 on Friday. 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 company has a market cap of $8.48 billion, a price-to-earnings ratio of -44.02 and a beta of 0.82. The stock has a fifty day simple moving average of $127.29 and a two-hundred day simple moving average of $118.14. Glaukos Corporation has a 12-month low of $73.16 and a 12-month high of $148.11.

Glaukos (NYSE:GKOS - Get Free Report) last announced its earnings results 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 firm had revenue of $150.57 million for the quarter, compared to analysts' expectations 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 in the previous year, the business posted ($0.22) EPS. Research analysts predict that Glaukos Corporation will post -0.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

GKOS has been the subject of a number of research analyst reports. William Blair reaffirmed an "outperform" rating on shares of Glaukos in a research note on Tuesday, May 26th. BTIG Research reissued a "buy" rating and set a $162.00 price objective on shares of Glaukos in a research report on Wednesday, June 10th. Wall Street Zen lowered shares of Glaukos from a "buy" rating to a "hold" rating in a report on Sunday, June 21st. Citigroup raised their target price on shares of Glaukos from $140.00 to $162.00 and gave the stock a "buy" rating in a research report on Thursday, June 11th. Finally, Stifel Nicolaus set a $170.00 target price on shares of Glaukos in a research note on Thursday, April 30th. Twelve research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $149.17.

Glaukos Company Profile

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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