Fifth Third Bancorp Purchases 3,546 Shares of Glaukos Corporation $GKOS

Key Points

• Fifth Third Bancorp increased its stake in Glaukos Corporation by 391.0% in Q2, acquiring an additional 3,546 shares, bringing its total holdings to 4,453 shares worth approximately $460,000.
• Analysts have set varied price targets for Glaukos, with Wells Fargo raising its target to $92.00 and BTIG Research issuing a target of $118.00, indicating a broadly positive outlook on the stock.
• Glaukos reported a revenue increase of 29.7% year-on-year during its last earnings call, exceeding analyst estimates with $124.12 million in revenue and a narrower earnings loss than expected.

Fifth Third Bancorp raised its position in shares of Glaukos Corporation (NYSE:GKOS - Free Report) by 391.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,453 shares of the medical instruments supplier's stock after acquiring an additional 3,546 shares during the period. Fifth Third Bancorp's holdings in Glaukos were worth $460,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Bessemer Group Inc. lifted its stake in shares of Glaukos by 133.9% in the first quarter. Bessemer Group Inc. now owns 276 shares of the medical instruments supplier's stock valued at $27,000 after buying an additional 158 shares during the period. Whipplewood Advisors LLC lifted its stake in shares of Glaukos by 3,957.1% in the first quarter. Whipplewood Advisors LLC now owns 284 shares of the medical instruments supplier's stock valued at $28,000 after buying an additional 277 shares during the period. First Horizon Advisors Inc. lifted its stake in shares of Glaukos by 72.9% in the first quarter. First Horizon Advisors Inc. now owns 377 shares of the medical instruments supplier's stock valued at $37,000 after buying an additional 159 shares during the period. Versant Capital Management Inc lifted its stake in shares of Glaukos by 583.9% in the first quarter. Versant Capital Management Inc now owns 383 shares of the medical instruments supplier's stock valued at $38,000 after buying an additional 327 shares during the period. Finally, Bayforest Capital Ltd bought a new stake in shares of Glaukos in the first quarter valued at about $141,000. 99.04% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on GKOS shares. BTIG Research reiterated a "buy" rating and issued a $118.00 target price on shares of Glaukos in a research note on Wednesday, September 10th. Wells Fargo & Company increased their target price on shares of Glaukos from $86.00 to $92.00 and gave the company an "equal weight" rating in a research note on Thursday, July 31st. Mizuho set a $130.00 target price on shares of Glaukos in a research note on Thursday, July 31st. Truist Financial reduced their target price on shares of Glaukos from $126.00 to $120.00 and set a "buy" rating for the company in a research note on Monday, September 22nd. Finally, William Blair upgraded shares of Glaukos to a "strong-buy" rating in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $123.58.

Glaukos Stock Performance

NYSE GKOS opened at $81.24 on Tuesday. The firm has a market cap of $4.66 billion, a price-to-earnings ratio of -49.24 and a beta of 0.77. The company has a 50 day moving average of $89.38 and a 200-day moving average of $93.76. The company has a current ratio of 5.51, a quick ratio of 4.69 and a debt-to-equity ratio of 0.09. Glaukos Corporation has a 1-year low of $77.10 and a 1-year high of $163.71.

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

Glaukos 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.

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