Citigroup Inc. Cuts Stock Position in Glaukos Corporation $GKOS

Key Points

• Citigroup Inc. reduced its holdings in Glaukos Corporation by 4.2% in Q1, owning 0.14% of the company worth approximately $7.63 million after selling 3,406 shares.
• Glaukos reported a quarterly revenue of $124.12 million, exceeding estimates, while its earnings per share were ($0.24), beating the expected ($0.26).
• Analyst ratings show a consensus of "Moderate Buy" for Glaukos, with a target price around $127.42 and mixed evaluations from several research firms.

Citigroup Inc. lessened its holdings in shares of Glaukos Corporation (NYSE:GKOS - Free Report) by 4.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 77,546 shares of the medical instruments supplier's stock after selling 3,406 shares during the period. Citigroup Inc. owned 0.14% of Glaukos worth $7,632,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of GKOS. State of Wyoming grew its stake in shares of Glaukos by 2.3% during the 4th quarter. State of Wyoming now owns 3,245 shares of the medical instruments supplier's stock valued at $487,000 after acquiring an additional 72 shares during the period. Stifel Financial Corp boosted its position in shares of Glaukos by 2.6% during the 4th quarter. Stifel Financial Corp now owns 4,341 shares of the medical instruments supplier's stock valued at $651,000 after acquiring an additional 111 shares during the last quarter. Valeo Financial Advisors LLC boosted its position in shares of Glaukos by 1.5% during the 1st quarter. Valeo Financial Advisors LLC now owns 7,817 shares of the medical instruments supplier's stock valued at $769,000 after acquiring an additional 117 shares during the last quarter. Lido Advisors LLC boosted its position in shares of Glaukos by 0.8% during the 4th quarter. Lido Advisors LLC now owns 16,542 shares of the medical instruments supplier's stock valued at $2,480,000 after acquiring an additional 131 shares during the last quarter. Finally, LVW Advisors LLC lifted its position in Glaukos by 5.9% in the first quarter. LVW Advisors LLC now owns 2,408 shares of the medical instruments supplier's stock worth $237,000 after buying an additional 135 shares during the last quarter. Hedge funds and other institutional investors own 99.04% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on GKOS shares. Truist Financial restated a "buy" rating and issued a $135.00 price target (down from $140.00) on shares of Glaukos in a research report on Thursday, May 1st. Wells Fargo & Company raised their price target on Glaukos from $86.00 to $92.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 31st. Zacks Research downgraded Glaukos from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 15th. Morgan Stanley lowered their price target on Glaukos from $110.00 to $72.00 and set an "underweight" rating for the company in a research report on Tuesday, May 6th. Finally, Stephens lowered their price target on Glaukos from $140.00 to $115.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $127.42.

Glaukos Trading Down 1.2%

GKOS stock traded down $1.1060 during midday trading on Thursday, reaching $89.8340. The company's stock had a trading volume of 400,166 shares, compared to its average volume of 1,249,862. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.69 and a current ratio of 5.51. The stock has a fifty day simple moving average of $96.33 and a two-hundred day simple moving average of $101.88. 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 $5.15 billion, a price-to-earnings ratio of -54.44 and a beta of 0.78.

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

Glaukos Company 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.