Eventide Asset Management LLC Takes Position in Glaukos Corporation $GKOS

Key Points

• Eventide Asset Management LLC recently acquired 290,921 shares of Glaukos Corporation, valued at approximately $28.6 million, resulting in a total ownership of about 0.51% of the company.
• Glaukos reported a quarterly revenue of $124.12 million, exceeding analysts' expectations, and a narrower EPS loss of ($0.24), beating the consensus estimate of ($0.26).
• Several analysts have adjusted their ratings and target prices for Glaukos, with UBS raising its target from $125.00 to $134.00, while the consensus rating for the stock is currently a "Moderate Buy."

Eventide Asset Management LLC purchased a new stake in shares of Glaukos Corporation (NYSE:GKOS - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 290,921 shares of the medical instruments supplier's stock, valued at approximately $28,636,000. Eventide Asset Management LLC owned about 0.51% of Glaukos as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of GKOS. Stifel Financial Corp boosted its position in Glaukos by 2.6% during the fourth quarter. Stifel Financial Corp now owns 4,341 shares of the medical instruments supplier's stock valued at $651,000 after purchasing an additional 111 shares during the last quarter. Algert Global LLC boosted its position in Glaukos by 41.9% during the fourth quarter. Algert Global LLC now owns 18,821 shares of the medical instruments supplier's stock valued at $2,822,000 after purchasing an additional 5,561 shares during the last quarter. Balyasny Asset Management L.P. acquired a new position in Glaukos during the fourth quarter valued at approximately $4,761,000. Brevan Howard Capital Management LP acquired a new position in Glaukos during the fourth quarter valued at approximately $550,000. Finally, BOKF NA acquired a new stake in shares of Glaukos in the fourth quarter valued at approximately $595,000. 99.04% of the stock is owned by institutional investors and hedge funds.

Glaukos Price Performance

Glaukos stock traded down $0.80 during mid-day trading on Tuesday, reaching $91.08. 321,960 shares of the company were exchanged, compared to its average volume of 930,422. The company has a fifty day simple moving average of $94.77 and a 200-day simple moving average of $96.44. Glaukos Corporation has a 12 month low of $77.10 and a 12 month high of $163.71. The company has a debt-to-equity ratio of 0.09, a current ratio of 5.51 and a quick ratio of 4.69. The firm has a market cap of $5.22 billion, a PE ratio of -55.18 and a beta of 0.77.

Glaukos (NYSE:GKOS - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The medical instruments supplier reported ($0.24) EPS for the quarter, topping analysts' consensus estimates of ($0.26) by $0.02. Glaukos had a negative return on equity of 8.59% and a negative net margin of 21.43%.The firm had revenue of $124.12 million for the quarter, compared to analyst estimates of $115.49 million. During the same quarter last year, the company earned ($0.52) EPS. The company's revenue was up 29.7% on a year-over-year basis. Glaukos has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that Glaukos Corporation will post -1.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. BTIG Research reaffirmed a "buy" rating on shares of Glaukos in a research report on Monday, July 14th. Mizuho set a $130.00 price objective on Glaukos in a research report on Thursday, July 31st. William Blair upgraded Glaukos to a "strong-buy" rating in a research note on Thursday, July 31st. UBS Group increased their target price on Glaukos from $125.00 to $134.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Finally, Zacks Research lowered Glaukos from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Glaukos has a consensus rating of "Moderate Buy" and a consensus target price of $127.42.

Glaukos Company 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.