Corient Private Wealth LP Takes Position in Glaukos Corporation $GKOS

Key Points

• Corient Private Wealth LP acquired 57,048 Glaukos shares worth approximately $7.97 million during the second quarter, giving it a 0.10% stake. Institutional investors collectively own 99.04% of GKOS.
• Glaukos reported stronger-than-expected quarterly results, with revenue rising 49.6% year over year to $185.61 million and a loss of $0.14 per share, beating estimates by $0.07.
• Analyst sentiment remains positive, with 12 Buy ratings and a consensus “Moderate Buy” rating, while the average price target is $178.08. The stock recently traded at $179.95, near its 52-week high, despite significant insider selling.

Corient Private Wealth LP acquired a new stake in Glaukos Corporation (NYSE:GKOS - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 57,048 shares of the medical instruments supplier's stock, valued at approximately $7,973,000. Corient Private Wealth LP owned approximately 0.10% of Glaukos at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Allworth Financial LP bought a new position in shares of Glaukos during the 2nd quarter valued at $28,000. Los Angeles Capital Management LLC purchased a new stake in Glaukos in the 4th quarter worth approximately $28,000. Larson Financial Group LLC raised its position in shares of 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 period. Parallel Advisors LLC raised its holdings in Glaukos by 159.2% during the first quarter. Parallel Advisors LLC now owns 368 shares of the medical instruments supplier's stock valued at $40,000 after acquiring an additional 226 shares during the period. Finally, Farther Finance Advisors LLC grew its position 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 worth $46,000 after purchasing an additional 215 shares in the last quarter. 99.04% of the stock is currently owned by hedge funds and other institutional investors.

Glaukos Price Performance

Glaukos stock opened at $179.95 on Monday. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.04 and a quick ratio of 4.46. The stock has a market cap of $10.61 billion, a price-to-earnings ratio of -55.37 and a beta of 0.78. The firm has a 50-day moving average of $162.64 and a two-hundred day moving average of $134.10. Glaukos Corporation has a 1 year low of $73.16 and a 1 year high of $191.62.

Glaukos (NYSE:GKOS - Get Free Report) last issued its earnings results on Wednesday, July 29th. The medical instruments supplier reported ($0.14) EPS for the quarter, topping analysts' consensus estimates 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 business had revenue of $185.61 million for the quarter, compared to analyst estimates of $150.93 million. During the same period last year, the company posted ($0.24) earnings per share. The company's quarterly revenue was up 49.6% compared to the same quarter last year. On average, research analysts forecast that Glaukos Corporation will post -0.32 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on GKOS shares. Truist Financial lifted their target price on Glaukos from $180.00 to $215.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Needham & Company LLC upped their price target on Glaukos from $150.00 to $201.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. Wells Fargo & Company increased their price objective on shares of Glaukos from $138.00 to $178.00 and gave the company an "overweight" rating in a report on Thursday, July 30th. BTIG Research lifted their price objective on shares of Glaukos from $193.00 to $202.00 and gave the company a "buy" rating in a research report on Thursday, August 20th. Finally, Wall Street Zen raised shares of Glaukos from a "hold" rating to a "buy" rating in a report on Saturday, August 1st. Twelve equities 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 stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $178.08.

Insider Transactions at Glaukos

In related news, COO Joseph E. Gilliam sold 60,000 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $179.74, for a total value of $10,784,400.00. Following the transaction, the chief operating officer owned 72,588 shares of the company's stock, valued at $13,046,967.12. This represents a 45.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Leana Wen sold 525 shares of the firm's stock in a transaction on Friday, July 31st. The stock was sold at an average price of $167.63, for a total value of $88,005.75. Following the transaction, the director owned 21,092 shares in the company, valued at $3,535,651.96. The trade was a 2.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 113,025 shares of company stock worth $19,600,006 in the last ninety days. 5.90% of the stock is owned by company insiders.

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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