Great Lakes Advisors LLC Trims Stock Position in Glaukos Corporation $GKOS

Key Points

• Great Lakes Advisors LLC reduced its stake in Glaukos Corporation by 6.3%, owning approximately 106,200 shares worth $10.45 million after selling 7,101 shares in the first quarter.
• Institutional investors have shown mixed activity; while Bessemer Group increased its position by 133.9%, Whipplewood Advisors boosted its stake by an astonishing 3,957.1% during the same period.
• Analysts' ratings on Glaukos are generally positive, with a consensus rating of "Moderate Buy" and a price target of $127.42, although Zacks recently downgraded the stock from "strong-buy" to "hold."

Great Lakes Advisors LLC cut its stake in shares of Glaukos Corporation (NYSE:GKOS - Free Report) by 6.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 106,200 shares of the medical instruments supplier's stock after selling 7,101 shares during the quarter. Great Lakes Advisors LLC owned approximately 0.19% of Glaukos worth $10,452,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Bessemer Group Inc. increased its position in shares of 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 acquiring an additional 158 shares during the period. Whipplewood Advisors LLC boosted its stake 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 purchasing an additional 277 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in shares of Glaukos by 72.9% during the first quarter. First Horizon Advisors Inc. now owns 377 shares of the medical instruments supplier's stock valued at $37,000 after purchasing an additional 159 shares in the last quarter. Versant Capital Management Inc boosted its stake in shares of Glaukos by 583.9% during the first 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 in the last quarter. Finally, CoreCap Advisors LLC boosted its stake in shares of Glaukos by 36.4% during the fourth 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 in the last quarter. 99.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Zacks Research downgraded shares of Glaukos from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 15th. Mizuho set a $130.00 price objective on shares of Glaukos in a research note on Thursday, July 31st. UBS Group increased their price objective on shares of Glaukos from $125.00 to $134.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. BTIG Research reiterated a "buy" rating on shares of Glaukos in a research note on Monday, July 14th. Finally, William Blair upgraded shares of Glaukos to a "strong-buy" rating in a research note on Thursday, July 31st. One research 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 company's stock. According to data from MarketBeat.com, Glaukos currently has a consensus rating of "Moderate Buy" and a consensus price target of $127.42.

Glaukos Price Performance

Shares of GKOS opened at $91.83 on Tuesday. The company has a market cap of $5.27 billion, a price-to-earnings ratio of -55.66 and a beta of 0.77. Glaukos Corporation has a twelve month low of $77.10 and a twelve month high of $163.71. The company has a quick ratio of 4.69, a current ratio of 5.51 and a debt-to-equity ratio of 0.09. The company has a 50 day moving average of $94.77 and a two-hundred day moving average of $96.44.

Glaukos (NYSE:GKOS - Get Free Report) last announced its 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 company had revenue of $124.12 million during the quarter, compared to the consensus estimate 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 last year, the firm earned ($0.52) earnings per share. Glaukos has set its FY 2025 guidance at EPS. As a group, analysts predict that Glaukos Corporation will post -1.08 earnings per share 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.

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