Glaukos Corporation $GKOS Shares Acquired by Bank of America Corp DE

Key Points

• Bank of America increased its Glaukos stake by 22% in the first quarter, acquiring 118,754 shares and bringing its total holdings to 657,432 shares, worth approximately $70.8 million. Institutional investors and hedge funds collectively own 99.04% of the company.
• Glaukos reported a quarterly loss of $0.14 per share, beating estimates for a $0.21 loss, while revenue climbed 49.6% year over year to $185.61 million. Shares opened at $180.24, near their 12-month high of $184.
• Analyst sentiment remains positive, with 12 Buy ratings, two Holds and one Sell; the consensus rating is “Moderate Buy” with a $177.33 price target. However, insiders have sold 35,525 shares worth $5.44 million over the past 90 days.

Bank of America Corp DE lifted its stake in Glaukos Corporation (NYSE:GKOS - Free Report) by 22.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 657,432 shares of the medical instruments supplier's stock after buying an additional 118,754 shares during the quarter. Bank of America Corp DE owned approximately 1.12% of Glaukos worth $70,779,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GKOS. First Horizon Corp increased its holdings in shares of Glaukos by 1,715.4% during the 4th quarter. First Horizon Corp now owns 236 shares of the medical instruments supplier's stock valued at $27,000 after purchasing an additional 223 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in Glaukos during the fourth quarter valued at $28,000. Larson Financial Group LLC grew its position in Glaukos by 62.0% during the fourth quarter. Larson Financial Group LLC now owns 345 shares of the medical instruments supplier's stock valued at $39,000 after buying an additional 132 shares during the period. Parallel Advisors LLC increased its holdings in Glaukos by 159.2% in the first quarter. Parallel Advisors LLC now owns 368 shares of the medical instruments supplier's stock valued at $40,000 after buying an additional 226 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in Glaukos by 111.4% in the fourth quarter. Farther Finance Advisors LLC now owns 408 shares of the medical instruments supplier's stock valued at $46,000 after buying an additional 215 shares in the last quarter. 99.04% of the stock is owned by institutional investors and hedge funds.

Glaukos Price Performance

Shares of Glaukos stock opened at $180.24 on Monday. The stock has a market capitalization of $10.63 billion, a P/E ratio of -55.46 and a beta of 0.78. The business has a 50 day simple moving average of $144.25 and a two-hundred day simple moving average of $127.24. Glaukos Corporation has a 12 month low of $73.16 and a 12 month high of $184.00. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.04 and a quick ratio of 4.46.

Glaukos (NYSE:GKOS - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The medical instruments supplier reported ($0.14) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.21) by $0.07. Glaukos had a negative return on equity of 6.37% and a negative net margin of 30.68%.The firm had revenue of $185.61 million for the quarter, compared to analyst estimates of $150.93 million. During the same period in the previous year, the company posted ($0.24) earnings per share. The business's revenue was up 49.6% on a year-over-year basis. As a group, analysts predict that Glaukos Corporation will post -0.35 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Alex R. Thurman sold 10,000 shares of the business's stock in a transaction dated Thursday, July 16th. The shares were sold at an average price of $160.00, for a total transaction of $1,600,000.00. Following the transaction, the chief financial officer directly owned 43,906 shares in the company, valued at approximately $7,024,960. The trade was a 18.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Leana Wen sold 525 shares of the company's stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $167.63, for a total transaction of $88,005.75. Following the sale, the director directly owned 21,092 shares of the company's stock, valued at approximately $3,535,651.96. This represents a 2.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 35,525 shares of company stock valued at $5,441,806 in the last 90 days. 5.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Needham & Company LLC increased their target price on shares of Glaukos from $150.00 to $201.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. Citigroup lifted their price target on Glaukos from $175.00 to $188.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Wells Fargo & Company upped their price target on Glaukos from $138.00 to $178.00 and gave the stock an "overweight" rating in a report on Thursday, July 30th. UBS Group assumed coverage on Glaukos in a research report on Tuesday, July 28th. They set a "neutral" rating and a $150.00 price target on the stock. Finally, HC Wainwright increased their price target on Glaukos from $168.00 to $195.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Twelve equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $177.33.

Glaukos Company 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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