EFG Asset Management North America Corp. Cuts Stock Position in Glaukos Corporation $GKOS

Key Points

• EFG Asset Management North America Corp. cut its stake in Glaukos Corporation by 12.4%, selling 7,516 shares, which now represents approximately 0.9% of its investment portfolio.
• Several hedge funds have increased their positions in Glaukos, with Alliancebernstein L.P. leading with a 56.5% increase, now owning 1,277,539 shares valued at $125.7 million.
• Glaukos reported adjusted earnings of ($0.24) per share, beating analysts' expectations, and had revenue of $124.12 million, up 29.7% from the previous year.

EFG Asset Management North America Corp. lessened its position in shares of Glaukos Corporation (NYSE:GKOS - Free Report) by 12.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 53,076 shares of the medical instruments supplier's stock after selling 7,516 shares during the period. Glaukos comprises 0.9% of EFG Asset Management North America Corp.'s portfolio, making the stock its 23rd largest position. EFG Asset Management North America Corp. owned 0.09% of Glaukos worth $5,225,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Alliancebernstein L.P. grew its holdings in shares of Glaukos by 56.5% in the 1st quarter. Alliancebernstein L.P. now owns 1,277,539 shares of the medical instruments supplier's stock worth $125,735,000 after acquiring an additional 461,386 shares during the last quarter. Braidwell LP grew its position in Glaukos by 116.2% during the 1st quarter. Braidwell LP now owns 624,435 shares of the medical instruments supplier's stock worth $61,457,000 after acquiring an additional 335,559 shares during the last quarter. Nuveen LLC bought a new position in Glaukos in the 1st quarter valued at $31,474,000. Eventide Asset Management LLC bought a new position in shares of Glaukos in the 1st quarter worth $28,636,000. Finally, Westfield Capital Management Co. LP lifted its holdings in Glaukos by 34.3% during the first quarter. Westfield Capital Management Co. LP now owns 1,084,184 shares of the medical instruments supplier's stock worth $106,705,000 after acquiring an additional 277,033 shares in the last quarter. 99.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on GKOS. Zacks Research cut Glaukos from a "strong-buy" rating to a "hold" rating in a report on Friday, August 15th. William Blair upgraded Glaukos to a "strong-buy" rating in a report on Thursday, July 31st. UBS Group upped their price target on shares of Glaukos from $125.00 to $134.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Wells Fargo & Company upped their target price on shares of Glaukos from $86.00 to $92.00 and gave the stock an "equal weight" rating in a report on Thursday, July 31st. Finally, Mizuho set a $130.00 price target on shares of Glaukos in a research note on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $127.42.

Glaukos Trading Down 0.9%

Shares of GKOS traded down $0.80 during trading hours on Tuesday, reaching $91.08. 325,974 shares of the company traded hands, compared to its average volume of 930,422. The company's fifty day moving average price is $94.77 and its two-hundred day moving average price is $96.44. The company has a market capitalization of $5.22 billion, a price-to-earnings ratio of -55.20 and a beta of 0.77. Glaukos Corporation has a 12 month low of $77.10 and a 12 month high of $163.71. 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 issued 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. Glaukos had a negative net margin of 21.43% and a negative return on equity of 8.59%. The company had revenue of $124.12 million for the quarter, compared to the consensus estimate of $115.49 million. During the same quarter in the prior year, the firm earned ($0.52) earnings per share. The firm's revenue for the quarter was up 29.7% compared to the same quarter last year. Glaukos has set its FY 2025 guidance at EPS. Equities research analysts predict that Glaukos Corporation will post -1.08 earnings per share for the current fiscal 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.