Lord Abbett & CO. LLC Reduces Stake in 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 holdings in shares of Glaukos Corporation (NYSE:GKOS - Free Report) by 76.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 310,361 shares of the medical instruments supplier's stock after selling 999,145 shares during the period. Lord Abbett & CO. LLC owned about 0.54% of Glaukos worth $30,545,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Primecap Management Co. CA increased its position in Glaukos by 0.3% in the first quarter. Primecap Management Co. CA now owns 1,218,475 shares of the medical instruments supplier's stock worth $119,922,000 after buying an additional 4,150 shares in the last quarter. Westfield Capital Management Co. LP lifted its position in shares of Glaukos by 34.3% during the 1st quarter. Westfield Capital Management Co. LP now owns 1,084,184 shares of the medical instruments supplier's stock valued at $106,705,000 after buying an additional 277,033 shares in the last quarter. Gilder Gagnon Howe & Co. LLC grew its stake in shares of Glaukos by 25.3% during the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 825,276 shares of the medical instruments supplier's stock valued at $123,742,000 after acquiring an additional 166,677 shares during the period. Northern Trust Corp increased its holdings in Glaukos by 7.4% in the 4th quarter. Northern Trust Corp now owns 578,673 shares of the medical instruments supplier's stock worth $86,766,000 after acquiring an additional 40,052 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Glaukos by 21.8% in the 1st quarter. Principal Financial Group Inc. now owns 327,036 shares of the medical instruments supplier's stock worth $32,187,000 after acquiring an additional 58,502 shares in the last quarter. 99.04% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on GKOS shares. Needham & Company LLC lowered 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. Truist Financial restated a "buy" rating and set a $135.00 target price (down previously from $140.00) on shares of Glaukos in a research note on Thursday, May 1st. Stephens dropped their target price on shares of Glaukos from $140.00 to $115.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. BTIG Research reissued a "buy" rating on shares of Glaukos in a report on Monday, July 14th. Finally, Mizuho set a $130.00 price objective on Glaukos in a research report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $127.42.

Glaukos Price Performance

Shares of NYSE:GKOS traded down $0.1340 during mid-day trading on Wednesday, reaching $90.8960. The stock had a trading volume of 666,860 shares, compared to its average volume of 1,272,274. The business's 50 day moving average price is $96.48 and its 200 day moving average price is $102.34. Glaukos Corporation has a 1 year low of $77.10 and a 1 year high of $163.71. The company has a market cap of $5.21 billion, a P/E ratio of -55.09 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.

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