Victory Capital Management Inc. Buys 66,009 Shares of Glaukos Corporation (NYSE:GKOS)

Victory Capital Management Inc. raised its stake in shares of Glaukos Corporation (NYSE:GKOS - Free Report) by 88.7% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 140,411 shares of the medical instruments supplier's stock after purchasing an additional 66,009 shares during the period. Victory Capital Management Inc. owned approximately 0.25% of Glaukos worth $13,819,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. HighTower Advisors LLC boosted its stake in shares of Glaukos by 2.8% in the 4th quarter. HighTower Advisors LLC now owns 3,298 shares of the medical instruments supplier's stock worth $495,000 after buying an additional 91 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of Glaukos by 12.9% in the 4th quarter. Commonwealth Equity Services LLC now owns 5,770 shares of the medical instruments supplier's stock worth $865,000 after purchasing an additional 661 shares during the period. Xponance Inc. raised its holdings in Glaukos by 13.3% during the 4th quarter. Xponance Inc. now owns 3,633 shares of the medical instruments supplier's stock valued at $545,000 after acquiring an additional 426 shares during the period. Teacher Retirement System of Texas raised its holdings in Glaukos by 606.7% during the 4th quarter. Teacher Retirement System of Texas now owns 20,247 shares of the medical instruments supplier's stock valued at $3,036,000 after acquiring an additional 17,382 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new stake in Glaukos during the 4th quarter valued at $1,709,000. Institutional investors and hedge funds own 99.04% of the company's stock.

Analyst Ratings Changes

GKOS has been the topic of several research analyst reports. Wells Fargo & Company cut shares of Glaukos from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $160.00 to $86.00 in a report on Thursday, May 1st. Truist Financial reaffirmed a "buy" rating and issued a $135.00 price target (down previously from $140.00) on shares of Glaukos in a report on Thursday, May 1st. Needham & Company LLC decreased their price target on shares of Glaukos from $176.00 to $115.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Mizuho decreased their price target on shares of Glaukos from $200.00 to $175.00 and set an "outperform" rating on the stock in a report on Wednesday, April 16th. Finally, BTIG Research reaffirmed a "buy" rating on shares of Glaukos in a report on Monday, July 14th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $134.67.

Glaukos Price Performance

Shares of GKOS traded down $0.10 during trading hours on Friday, reaching $94.28. 851,500 shares of the stock traded hands, compared to its average volume of 826,765. The company has a current ratio of 6.49, a quick ratio of 5.62 and a debt-to-equity ratio of 0.09. Glaukos Corporation has a 52-week low of $77.10 and a 52-week high of $163.71. The company's 50-day moving average price is $98.53 and its two-hundred day moving average price is $110.69. The company has a market cap of $5.39 billion, a P/E ratio of -39.78 and a beta of 0.82.

Glaukos (NYSE:GKOS - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The medical instruments supplier reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.11. The business had revenue of $106.66 million for the quarter, compared to analysts' expectations of $102.78 million. Glaukos had a negative net margin of 31.40% and a negative return on equity of 10.66%. The business's quarterly revenue was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.70) EPS. On average, analysts anticipate that Glaukos Corporation will post -1.08 earnings per share 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.