Fred Alger Management LLC Sells 159,268 Shares of Glaukos Corporation $GKOS

Key Points

• Fred Alger Management LLC reduced its stake in Glaukos Corporation (GKOS) by 20.8%, selling 159,268 shares and now holding 605,690 shares worth approximately $59.6 million.
• Several institutional investors, including Bessemer Group Inc. and Whipplewood Advisors LLC, significantly increased their positions in Glaukos during the first quarter, reflecting strong investor interest.
• Glaukos reported quarterly revenue of $124.12 million, exceeding estimates and showing a year-over-year increase of 29.7%, while earnings per share came in at less than expected at ($0.24).

Fred Alger Management LLC lessened its holdings in Glaukos Corporation (NYSE:GKOS - Free Report) by 20.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 605,690 shares of the medical instruments supplier's stock after selling 159,268 shares during the period. Fred Alger Management LLC owned 1.06% of Glaukos worth $59,612,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in GKOS. Bessemer Group Inc. boosted its position 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 acquiring an additional 158 shares during the period. Whipplewood Advisors LLC boosted its position 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 acquiring an additional 277 shares during the period. First Horizon Advisors Inc. boosted its position 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 acquiring an additional 159 shares during the period. Versant Capital Management Inc boosted its position 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 acquiring an additional 327 shares during the period. Finally, CoreCap Advisors LLC boosted its position in shares of Glaukos by 36.4% in the fourth quarter. CoreCap Advisors LLC now owns 750 shares of the medical instruments supplier's stock valued at $112,000 after acquiring an additional 200 shares during the period. Institutional investors own 99.04% of the company's stock.

Glaukos Stock Performance

Shares of GKOS stock opened at $93.73 on Monday. The business's 50-day moving average price is $95.00 and its 200-day moving average price is $96.68. Glaukos Corporation has a 12 month low of $77.10 and a 12 month high of $163.71. The firm has a market capitalization of $5.38 billion, a price-to-earnings ratio of -56.81 and a beta of 0.77. 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 (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, beating analysts' consensus estimates of ($0.26) by $0.02. The business had revenue of $124.12 million during the quarter, compared to the consensus estimate of $115.49 million. Glaukos had a negative return on equity of 8.59% and a negative net margin of 21.43%.Glaukos's quarterly revenue was up 29.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.52) earnings per share. Glaukos has set its FY 2025 guidance at EPS. Equities research analysts forecast that Glaukos Corporation will post -1.08 EPS for the current year.

Analyst Ratings Changes

GKOS has been the topic of a number of recent analyst reports. BTIG Research restated a "buy" rating on shares of Glaukos in a research report on Monday, July 14th. Zacks Research cut Glaukos from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 15th. Wells Fargo & Company upped their target price on Glaukos from $86.00 to $92.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. William Blair upgraded Glaukos to a "strong-buy" rating in a research note on Thursday, July 31st. Finally, UBS Group lifted their target price on Glaukos from $125.00 to $134.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target 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.

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