Glaukos Corporation $GKOS Stock Holdings Trimmed by Algert Global LLC

Key Points

• Algert Global cut its Glaukos stake by 43% in the second quarter, selling 23,330 shares and retaining 30,871 shares valued at approximately $4.3 million. Institutional investors collectively own 99.04% of GKOS.
• Analysts remain broadly bullish, with 12 Buy ratings, one Hold and one Sell. The consensus rating is “Moderate Buy”, with an average price target of $178.08, while several firms recently raised their targets to between $190 and $202.
• Glaukos shares opened at $181.97, near their 12-month high of $191.62. The company’s latest quarterly results beat expectations, with revenue up 49.6% year over year to $185.61 million and an adjusted loss of $0.14 per share versus the expected $0.21 loss.

Algert Global LLC lessened its holdings in shares of Glaukos Corporation (NYSE:GKOS - Free Report) by 43.0% in the second quarter, according to its most recent filing with the SEC. The firm owned 30,871 shares of the medical instruments supplier's stock after selling 23,330 shares during the quarter. Algert Global LLC owned about 0.05% of Glaukos worth $4,315,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of GKOS. AQR Capital Management LLC lifted its holdings in Glaukos by 2.6% in the first quarter. AQR Capital Management LLC now owns 7,788 shares of the medical instruments supplier's stock worth $766,000 after purchasing an additional 198 shares during the period. Jones Financial Companies Lllp raised its position in shares of Glaukos by 1,405.9% during the 1st quarter. Jones Financial Companies Lllp now owns 2,560 shares of the medical instruments supplier's stock worth $252,000 after buying an additional 2,390 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Glaukos by 41.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 229,994 shares of the medical instruments supplier's stock worth $22,636,000 after buying an additional 67,668 shares in the last quarter. M&T Bank Corp acquired a new stake in shares of Glaukos in the 2nd quarter worth approximately $203,000. Finally, Gamco Investors INC. ET AL lifted its stake in shares of Glaukos by 10.7% in the 2nd quarter. Gamco Investors INC. ET AL now owns 8,001 shares of the medical instruments supplier's stock worth $826,000 after acquiring an additional 773 shares during the period. Institutional investors own 99.04% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on GKOS shares. Stifel Nicolaus raised their price objective on shares of Glaukos from $175.00 to $190.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Wells Fargo & Company upped their target price on Glaukos from $138.00 to $178.00 and gave the stock an "overweight" rating in a research report on Thursday, July 30th. Needham & Company LLC increased their price target on Glaukos from $150.00 to $201.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. William Blair reiterated an "outperform" rating on shares of Glaukos in a research report on Tuesday, May 26th. Finally, BTIG Research boosted their price objective on Glaukos from $193.00 to $202.00 and gave the stock a "buy" rating in a research note on Thursday, August 20th. Twelve equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $178.08.

Insider Buying and Selling

In other news, Director Leana Wen sold 525 shares of the firm's stock in a transaction on Friday, July 31st. The stock was sold at an average price of $167.63, for a total transaction of $88,005.75. Following the completion of the sale, the director directly owned 21,092 shares of the company's stock, valued at $3,535,651.96. This trade represents a 2.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gilbert H. Kliman sold 2,500 shares of Glaukos stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $190.00, for a total value of $475,000.00. Following the completion of the transaction, the director owned 37,406 shares in the company, valued at $7,107,140. The trade was a 6.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 113,025 shares of company stock worth $19,600,006 over the last quarter. 5.90% of the stock is currently owned by insiders.

Glaukos Stock Up 0.8%

NYSE GKOS opened at $181.97 on Friday. Glaukos Corporation has a 12 month low of $73.16 and a 12 month high of $191.62. The company has a market capitalization of $10.73 billion, a P/E ratio of -55.99 and a beta of 0.78. The company's 50 day simple moving average is $161.66 and its 200 day simple moving average is $133.63. 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 earnings results on Wednesday, July 29th. The medical instruments supplier reported ($0.14) earnings per share for the quarter, topping analysts' consensus estimates of ($0.21) by $0.07. The firm had revenue of $185.61 million during the quarter, compared to analysts' expectations of $150.93 million. Glaukos had a negative net margin of 30.68% and a negative return on equity of 6.37%. The firm's revenue for the quarter was up 49.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.24) earnings per share. Equities research analysts expect that Glaukos Corporation will post -0.32 earnings per share for the current fiscal year.

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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