Eversept Partners LP Acquires Shares of 147,471 Glaukos Corporation $GKOS

Key Points

• Eversept Partners LP opened a new position in Glaukos, buying 147,471 shares valued at about $16.65 million. The stake represents roughly 0.26% of Glaukos and is Eversept’s 29th largest holding.
• Several other institutional investors also added to or initiated positions in GKOS, and overall 99.04% of the stock is held by hedge funds and other institutions.
• Glaukos reported better-than-expected quarterly results, with EPS of -$0.18 versus the expected -$0.30 and revenue of $150.57 million, up 41.2% year over year. Analysts remain broadly positive, with a consensus rating of Moderate Buy and a consensus price target of $149.17.

Eversept Partners LP purchased a new position in Glaukos Corporation (NYSE:GKOS - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 147,471 shares of the medical instruments supplier's stock, valued at approximately $16,651,000. Glaukos makes up about 0.8% of Eversept Partners LP's holdings, making the stock its 29th largest position. Eversept Partners LP owned approximately 0.26% of Glaukos as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Clough Capital Partners L P purchased a new position in shares of Glaukos in the fourth quarter worth about $2,300,000. Balyasny Asset Management L.P. purchased a new position in shares of Glaukos in the fourth quarter worth about $9,842,000. Guggenheim Capital LLC purchased a new position in shares of Glaukos in the fourth quarter worth about $233,000. AQR Capital Management LLC lifted its stake in shares of Glaukos by 50.9% in the fourth quarter. AQR Capital Management LLC now owns 15,572 shares of the medical instruments supplier's stock worth $1,758,000 after buying an additional 5,255 shares in the last quarter. Finally, Braidwell LP lifted its stake in shares of Glaukos by 18.2% in the fourth quarter. Braidwell LP now owns 921,979 shares of the medical instruments supplier's stock worth $104,101,000 after buying an additional 141,815 shares in the last quarter. 99.04% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Glaukos news, CFO Alex R. Thurman sold 10,000 shares of Glaukos stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $140.00, for a total transaction of $1,400,000.00. Following the transaction, the chief financial officer directly owned 43,681 shares of the company's stock, valued at $6,115,340. The trade was a 18.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Leana Wen sold 1,700 shares of Glaukos stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $143.35, for a total transaction of $243,695.00. Following the transaction, the director directly owned 19,739 shares in the company, valued at $2,829,585.65. This trade represents a 7.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 45,305 shares of company stock valued at $6,259,395 over the last three months. 5.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

GKOS has been the topic of several research reports. Needham & Company LLC raised their price target on shares of Glaukos from $136.00 to $150.00 and gave the stock a "buy" rating in a research note on Wednesday. Wells Fargo & Company raised their price target on shares of Glaukos from $135.00 to $138.00 and gave the stock an "overweight" rating in a research note on Thursday, April 30th. William Blair reissued an "outperform" rating on shares of Glaukos in a research note on Tuesday, May 26th. JPMorgan Chase & Co. raised their price target on shares of Glaukos from $120.00 to $140.00 and gave the stock an "overweight" rating in a research note on Thursday, April 30th. Finally, BTIG Research reissued a "buy" rating and issued a $162.00 price target on shares of Glaukos in a research note on Wednesday, June 10th. Twelve investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Glaukos presently has a consensus rating of "Moderate Buy" and a consensus price target of $149.17.

Glaukos Price Performance

Shares of GKOS stock opened at $127.32 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.43 and a quick ratio of 4.73. The firm's 50-day moving average is $124.87 and its two-hundred day moving average is $116.80. Glaukos Corporation has a 12 month low of $73.16 and a 12 month high of $148.11. The company has a market capitalization of $7.48 billion, a PE ratio of -38.82 and a beta of 0.82.

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

Glaukos 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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