DNB Asset Management AS Grows Stock Position in Glaukos Corporation $GKOS

Key Points

• DNB Asset Management AS increased its Glaukos stake by 11.9% in the fourth quarter, bringing its holdings to 82,320 shares worth about $9.3 million.
• Several other institutional investors also added to or initiated positions in Glaukos, and 99.04% of the stock is now held by hedge funds and other institutions.
• Analysts remain broadly positive after Glaukos beat quarterly earnings and revenue estimates; the company posted ($0.18) EPS on $150.57 million in revenue, while the consensus rating is Moderate Buy with an average target price of $144.42.

DNB Asset Management AS lifted its stake in Glaukos Corporation (NYSE:GKOS - Free Report) by 11.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 82,320 shares of the medical instruments supplier's stock after buying an additional 8,770 shares during the period. DNB Asset Management AS owned approximately 0.14% of Glaukos worth $9,295,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund raised its holdings in Glaukos by 1.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 13,165 shares of the medical instruments supplier's stock valued at $1,486,000 after buying an additional 200 shares during the last quarter. Crossmark Global Holdings Inc. raised its holdings in Glaukos by 3.7% during the 4th quarter. Crossmark Global Holdings Inc. now owns 4,034 shares of the medical instruments supplier's stock valued at $455,000 after buying an additional 145 shares during the last quarter. Sequoia Financial Advisors LLC bought a new stake in Glaukos during the 4th quarter valued at $203,000. Strs Ohio raised its holdings in Glaukos by 32.5% during the 4th quarter. Strs Ohio now owns 5,300 shares of the medical instruments supplier's stock valued at $598,000 after buying an additional 1,300 shares during the last quarter. Finally, M&T Bank Corp raised its holdings in Glaukos by 31.7% during the 4th quarter. M&T Bank Corp now owns 4,811 shares of the medical instruments supplier's stock valued at $543,000 after buying an additional 1,159 shares during the last quarter. 99.04% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Glaukos

In other Glaukos news, COO Joseph E. Gilliam sold 19,573 shares of Glaukos stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $143.54, for a total transaction of $2,809,508.42. Following the sale, the chief operating officer directly owned 73,419 shares of the company's stock, valued at approximately $10,538,563.26. The trade was a 21.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Leana Wen sold 1,700 shares of Glaukos stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $143.35, for a total value of $243,695.00. Following the sale, 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 ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 55,930 shares of company stock worth $7,378,263. Insiders own 5.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on GKOS. Wall Street Zen raised Glaukos from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. JPMorgan Chase & Co. raised their target price on Glaukos from $120.00 to $140.00 and gave the stock an "overweight" rating in a research note on Thursday, April 30th. Citigroup raised their target price on Glaukos from $135.00 to $140.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. Stifel Nicolaus set a $170.00 target price on Glaukos in a research note on Thursday, April 30th. Finally, Wells Fargo & Company raised their target price on Glaukos from $135.00 to $138.00 and gave the stock an "overweight" rating in a research note on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Glaukos currently has a consensus rating of "Moderate Buy" and an average target price of $144.42.

Glaukos Stock Performance

NYSE:GKOS opened at $143.53 on Monday. The stock has a market cap of $8.43 billion, a P/E ratio of -43.76 and a beta of 0.94. The firm's fifty day simple moving average is $117.10 and its 200 day simple moving average is $111.64. Glaukos Corporation has a twelve month low of $73.16 and a twelve month high of $146.75. The company has a quick ratio of 4.73, a current ratio of 5.43 and a debt-to-equity ratio of 0.10.

Glaukos (NYSE:GKOS - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The medical instruments supplier reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.12. The business had revenue of $150.57 million for the quarter, compared to analysts' expectations of $137.00 million. Glaukos had a negative return on equity of 6.92% and a negative net margin of 34.34%.The business's revenue was up 41.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.22) EPS. As a group, research analysts predict that Glaukos Corporation will post -0.57 EPS for the current year.

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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