Fideuram Intesa Sanpaolo Private Banking S.P.A. Makes New $1.01 Million Investment in Glaukos Corporation $GKOS

Key Points

• Fideuram Intesa Sanpaolo Private Banking disclosed a new position in Glaukos, buying 9,357 shares worth about $1.01 million in the first quarter.
• Glaukos reported better-than-expected quarterly results, with EPS of ($0.18) versus estimates for ($0.30) and revenue of $150.57 million, up 41.2% year over year.
• Analysts remain constructive on the stock: the consensus rating is Moderate Buy with a price target of $149.17, while several firms recently raised their targets.

Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in shares of Glaukos Corporation (NYSE:GKOS - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 9,357 shares of the medical instruments supplier's stock, valued at approximately $1,007,000.

Several other institutional investors also recently bought and sold shares of GKOS. Keybank National Association OH boosted its stake in shares of Glaukos by 1.9% during the 1st quarter. Keybank National Association OH now owns 145,270 shares of the medical instruments supplier's stock worth $15,640,000 after acquiring an additional 2,764 shares in the last quarter. Inspire Investing LLC raised its stake in shares of Glaukos by 5.5% in the 1st quarter. Inspire Investing LLC now owns 5,751 shares of the medical instruments supplier's stock valued at $619,000 after acquiring an additional 301 shares in the last quarter. Pictet Asset Management Holding SA raised its stake in shares of Glaukos by 4.3% in the 1st quarter. Pictet Asset Management Holding SA now owns 8,567 shares of the medical instruments supplier's stock valued at $922,000 after acquiring an additional 356 shares in the last quarter. Louisiana State Employees Retirement System bought a new position in shares of Glaukos in the 1st quarter valued at approximately $2,745,000. Finally, Diversified Trust Co lifted its holdings in Glaukos by 22.3% in the 1st quarter. Diversified Trust Co now owns 8,866 shares of the medical instruments supplier's stock worth $955,000 after purchasing an additional 1,614 shares during the last quarter. 99.04% of the stock is currently owned by institutional investors.

Glaukos Stock Performance

GKOS opened at $147.49 on Friday. The firm has a market capitalization of $8.66 billion, a P/E ratio of -44.97 and a beta of 0.75. The stock's 50 day moving average price is $129.31 and its two-hundred day moving average price is $119.35. 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 Corporation has a 12-month low of $73.16 and a 12-month high of $148.62.

Glaukos (NYSE:GKOS - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The medical instruments supplier reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.12. Glaukos had a negative return on equity of 6.92% and a negative net margin of 34.34%.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 business posted ($0.22) EPS. The company's revenue for the quarter was up 41.2% on a year-over-year basis. On average, equities analysts forecast that Glaukos Corporation will post -0.57 earnings per share for the current year.

Insider Activity at Glaukos

In other Glaukos news, Director Gilbert H. Kliman sold 5,000 shares of the stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $140.76, for a total value of $703,800.00. Following the completion of the sale, the director directly owned 35,528 shares of the company's stock, valued at $5,000,921.28. This represents a 12.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Joseph E. Gilliam sold 19,573 shares of the firm's stock in a transaction 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 completion of the sale, the chief operating officer owned 73,419 shares in the company, valued at $10,538,563.26. This represents a 21.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 41,273 shares of company stock worth $5,832,003. 5.90% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on GKOS. BTIG Research reaffirmed a "buy" rating and set a $162.00 target price on shares of Glaukos in a research report on Wednesday, June 10th. Needham & Company LLC lifted their price target on shares of Glaukos from $136.00 to $150.00 and gave the company a "buy" rating in a research report on Wednesday, June 17th. JPMorgan Chase & Co. boosted their price objective 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. William Blair reaffirmed an "outperform" rating on shares of Glaukos in a report on Tuesday, May 26th. Finally, Citigroup raised their target price on shares of Glaukos from $140.00 to $162.00 and gave the company a "buy" rating in a research note on Thursday, June 11th. Twelve equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $149.17.

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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