Glaukos Corporation $GKOS Shares Sold by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments Holdings LLC reduced its stake in Glaukos Corporation by 12.5%, owning approximately 280,815 shares valued at $28.79 million as of the latest filing.
• Institutional investors and hedge funds control 99.04% of Glaukos' stock, indicating a high level of institutional interest in the company.
• Glaukos reported a revenue increase of 29.7% year-over-year, with earnings per share of ($0.24), surpassing analysts' consensus estimate of ($0.26).

Allspring Global Investments Holdings LLC lessened its holdings in Glaukos Corporation (NYSE:GKOS - Free Report) by 12.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 280,815 shares of the medical instruments supplier's stock after selling 39,943 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.49% of Glaukos worth $28,789,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bessemer Group Inc. increased its holdings in Glaukos by 133.9% in the 1st quarter. Bessemer Group Inc. now owns 276 shares of the medical instruments supplier's stock worth $27,000 after buying an additional 158 shares during the period. First Horizon Advisors Inc. increased its holdings in Glaukos by 72.9% in the 1st quarter. First Horizon Advisors Inc. now owns 377 shares of the medical instruments supplier's stock worth $37,000 after buying an additional 159 shares during the period. Park Place Capital Corp increased its holdings in Glaukos by 68.4% in the 2nd quarter. Park Place Capital Corp now owns 399 shares of the medical instruments supplier's stock worth $41,000 after buying an additional 162 shares during the period. Bayforest Capital Ltd acquired a new position in Glaukos in the 1st quarter worth approximately $141,000. Finally, Revisor Wealth Management LLC acquired a new position in Glaukos in the 2nd quarter worth approximately $204,000. Institutional investors and hedge funds own 99.04% of the company's stock.

Analyst Upgrades and Downgrades

GKOS has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Glaukos in a research note on Wednesday, October 8th. 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. Truist Financial dropped their price objective on shares of Glaukos from $126.00 to $120.00 and set a "buy" rating on the stock in a research note on Monday, September 22nd. Mizuho set a $130.00 price objective on shares of Glaukos in a research note on Thursday, July 31st. Finally, Zacks Research cut shares of Glaukos from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $116.92.

Glaukos Trading Up 0.1%

Shares of NYSE:GKOS opened at $85.38 on Thursday. Glaukos Corporation has a 1 year low of $77.10 and a 1 year high of $163.71. The firm has a market capitalization of $4.90 billion, a price-to-earnings ratio of -51.74 and a beta of 0.76. The company has a debt-to-equity ratio of 0.09, a current ratio of 5.51 and a quick ratio of 4.69. The business's 50 day moving average price is $87.74 and its 200-day moving average price is $92.38.

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

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.

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