Glaukos Corporation $GKOS Holdings Lifted by Braidwell LP

Key Points

• Braidwell LP increased its stake in Glaukos Corporation by 116.2% during the first quarter, owning 624,435 shares, which represents 2.2% of its holdings.
• Multiple institutional investors have bought shares, with notable increases from Westfield Capital Management and GAMMA Investing, highlighting strong interest in GKOS.
• Glaukos reported a quarterly revenue of $124.12 million, exceeding expectations, and the company has a consensus rating of "Moderate Buy" with a price target of $127.42 from analysts.

Braidwell LP grew its stake in shares of Glaukos Corporation (NYSE:GKOS - Free Report) by 116.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 624,435 shares of the medical instruments supplier's stock after acquiring an additional 335,559 shares during the period. Glaukos comprises about 2.2% of Braidwell LP's holdings, making the stock its 17th biggest position. Braidwell LP owned about 1.09% of Glaukos worth $61,457,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bessemer Group Inc. increased its stake in shares of Glaukos by 133.9% during the 1st quarter. Bessemer Group Inc. now owns 276 shares of the medical instruments supplier's stock worth $27,000 after purchasing an additional 158 shares in the last quarter. Whipplewood Advisors LLC increased its stake in shares of Glaukos by 3,957.1% during the 1st quarter. Whipplewood Advisors LLC now owns 284 shares of the medical instruments supplier's stock worth $28,000 after purchasing an additional 277 shares in the last quarter. First Horizon Advisors Inc. increased its stake in shares of Glaukos by 72.9% during the 1st quarter. First Horizon Advisors Inc. now owns 377 shares of the medical instruments supplier's stock worth $37,000 after purchasing an additional 159 shares in the last quarter. Versant Capital Management Inc increased its stake in shares of Glaukos by 583.9% during the 1st quarter. Versant Capital Management Inc now owns 383 shares of the medical instruments supplier's stock worth $38,000 after purchasing an additional 327 shares in the last quarter. Finally, CoreCap Advisors LLC increased its stake in shares of Glaukos by 36.4% during the 4th quarter. CoreCap Advisors LLC now owns 750 shares of the medical instruments supplier's stock worth $112,000 after purchasing an additional 200 shares in the last quarter. 99.04% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. UBS Group raised their price objective on shares of Glaukos from $125.00 to $134.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. William Blair raised shares of Glaukos to a "strong-buy" rating in a research note on Thursday, July 31st. Wells Fargo & Company raised their price objective on shares of Glaukos from $86.00 to $92.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. Mizuho set a $130.00 price objective on shares of Glaukos in a research note on Thursday, July 31st. Finally, BTIG Research reaffirmed a "buy" rating on shares of Glaukos in a research note on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Glaukos presently has a consensus rating of "Moderate Buy" and an average price target of $127.42.

Glaukos Trading Up 4.0%

Shares of NYSE GKOS traded up $3.59 during trading on Friday, hitting $93.73. 758,743 shares of the company traded hands, compared to its average volume of 668,875. Glaukos Corporation has a 1 year low of $77.10 and a 1 year high of $163.71. The company has a 50-day moving average price of $95.00 and a 200-day moving average price of $97.54. The firm has a market capitalization of $5.38 billion, a P/E ratio of -56.81 and a beta of 0.77. The company has a quick ratio of 4.69, a current ratio of 5.51 and a debt-to-equity ratio of 0.09.

Glaukos (NYSE:GKOS - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The medical instruments supplier reported ($0.24) earnings per share for the quarter, topping analysts' consensus estimates 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 firm had revenue of $124.12 million during the quarter, compared to analysts' expectations of $115.49 million. During the same period in the prior year, the company earned ($0.52) EPS. The firm's revenue was up 29.7% on a year-over-year basis. Glaukos has set its FY 2025 guidance at EPS. On average, equities analysts predict that Glaukos Corporation will post -1.08 EPS for the current 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.