Glaukos Corporation $GKOS Shares Sold by Cinctive Capital Management LP

Key Points

• Cinctive Capital Management LP has decreased its holdings in Glaukos Corporation (GKOS) by 53.7%, reducing its shares to 4,765, valued at approximately $469,000.
• Despite this, Bessemer Group Inc. increased its stake by 133.9%, indicating mixed institutional investor sentiment towards Glaukos.
• Glaukos reported earnings per share of ($0.24), beating estimates, while revenue surged 29.7% year-over-year to $124.12 million.

Cinctive Capital Management LP lessened its holdings in shares of Glaukos Corporation (NYSE:GKOS - Free Report) by 53.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,765 shares of the medical instruments supplier's stock after selling 5,516 shares during the quarter. Cinctive Capital Management LP's holdings in Glaukos were worth $469,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GKOS. Stifel Financial Corp increased its holdings in shares of Glaukos by 2.6% in the fourth quarter. Stifel Financial Corp now owns 4,341 shares of the medical instruments supplier's stock worth $651,000 after purchasing an additional 111 shares during the last quarter. Balyasny Asset Management L.P. bought a new position in shares of Glaukos in the 4th quarter valued at about $4,761,000. Brevan Howard Capital Management LP purchased a new position in Glaukos in the fourth quarter worth about $550,000. BOKF NA bought a new stake in Glaukos during the fourth quarter worth approximately $595,000. Finally, CoreCap Advisors LLC raised its position in Glaukos by 36.4% during the fourth quarter. CoreCap Advisors LLC now owns 750 shares of the medical instruments supplier's stock valued at $112,000 after purchasing an additional 200 shares during the period. Institutional investors own 99.04% of the company's stock.

Glaukos Stock Down 3.5%

Shares of GKOS traded down $3.20 during trading hours on Wednesday, hitting $87.72. The company had a trading volume of 652,004 shares, compared to its average volume of 929,608. The company has a current ratio of 5.51, a quick ratio of 4.69 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $5.03 billion, a PE ratio of -53.16 and a beta of 0.77. Glaukos Corporation has a one year low of $77.10 and a one year high of $163.71. The company's fifty day moving average price is $94.54 and its two-hundred day moving average price is $96.40.

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

Wall Street Analysts Forecast Growth

GKOS has been the topic of several analyst reports. UBS Group boosted 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. BTIG Research restated a "buy" rating and issued a $118.00 target price on shares of Glaukos in a report on Wednesday. Wells Fargo & Company upped their price target on shares of Glaukos from $86.00 to $92.00 and gave the company an "equal weight" rating in a report on Thursday, July 31st. William Blair raised shares of Glaukos to a "strong-buy" rating in a research note on Thursday, July 31st. Finally, Mizuho set a $130.00 target price on Glaukos in a research note on Thursday, July 31st. One 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 assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $124.83.

About Glaukos

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.