Lord Abbett & CO. LLC Sells 999,145 Shares of Glaukos Corporation $GKOS

Key Points

• Lord Abbett & CO. LLC has significantly reduced its holdings in Glaukos Corporation by 76.3%, ending the first quarter with approximately 310,361 shares after selling 999,145 shares.
• Various institutional investors have adjusted their stakes in Glaukos, with firm shares changing hands, including Westfield Capital Management increasing its holdings by 34.3% to own 1,084,184 shares valued at $106.7 million.
• The company's recent earnings report showed a revenue increase of 29.7% year-over-year, with EPS of ($0.24), surpassing analyst expectations of ($0.26).

Lord Abbett & CO. LLC decreased its position in Glaukos Corporation (NYSE:GKOS - Free Report) by 76.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 310,361 shares of the medical instruments supplier's stock after selling 999,145 shares during the quarter. Lord Abbett & CO. LLC owned approximately 0.54% of Glaukos worth $30,545,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in GKOS. Bessemer Group Inc. boosted its holdings in Glaukos by 133.9% during the first quarter. Bessemer Group Inc. now owns 276 shares of the medical instruments supplier's stock worth $27,000 after purchasing an additional 158 shares during the last quarter. Whipplewood Advisors LLC increased its position in shares of Glaukos by 3,957.1% during the first quarter. Whipplewood Advisors LLC now owns 284 shares of the medical instruments supplier's stock valued at $28,000 after acquiring an additional 277 shares during the last quarter. First Horizon Advisors Inc. lifted its holdings in Glaukos by 72.9% during the first quarter. First Horizon Advisors Inc. now owns 377 shares of the medical instruments supplier's stock worth $37,000 after acquiring an additional 159 shares during the period. Versant Capital Management Inc grew its stake in Glaukos by 583.9% in the 1st quarter. Versant Capital Management Inc now owns 383 shares of the medical instruments supplier's stock valued at $38,000 after purchasing an additional 327 shares during the period. Finally, CoreCap Advisors LLC increased its position in shares of Glaukos by 36.4% during the 4th quarter. CoreCap Advisors LLC now owns 750 shares of the medical instruments supplier's stock valued at $112,000 after purchasing an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 99.04% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GKOS. Stifel Nicolaus cut their price target on shares of Glaukos from $140.00 to $115.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. UBS Group lifted their price objective on shares of Glaukos from $125.00 to $134.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. BTIG Research reiterated a "buy" rating on shares of Glaukos in a research note on Monday, July 14th. Stephens decreased their price target on shares of Glaukos from $140.00 to $115.00 and set an "overweight" rating for the company in a research note on Friday, May 2nd. Finally, William Blair raised shares of Glaukos to a "strong-buy" rating in a report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $127.42.

Glaukos Stock Performance

Shares of NYSE GKOS traded down $0.8350 during midday trading on Wednesday, hitting $90.1950. The company's stock had a trading volume of 126,425 shares, compared to its average volume of 954,409. The firm has a market capitalization of $5.17 billion, a price-to-earnings ratio of -54.66 and a beta of 0.78. The company has a current ratio of 5.51, a quick ratio of 4.69 and a debt-to-equity ratio of 0.09. The stock has a fifty day moving average price of $96.64 and a 200 day moving average price of $102.42. Glaukos Corporation has a one year low of $77.10 and a one year high of $163.71.

Glaukos (NYSE:GKOS - Get Free Report) last released 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. The business had revenue of $124.12 million during the quarter, compared to analyst estimates of $115.49 million. Glaukos had a negative net margin of 21.43% and a negative return on equity of 8.59%. Glaukos's revenue was up 29.7% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.52) EPS. Glaukos has set its FY 2025 guidance at EPS. On average, research analysts forecast that Glaukos Corporation will post -1.08 EPS 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.