Havemeyer Place LP Makes New $1.53 Million Investment in Glaukos Corporation $GKOS

Key Points

• Havemeyer Place LP opened a new position in Glaukos during the fourth quarter, buying 13,557 shares worth about $1.53 million.
• Institutional ownership remains heavy, with several other funds increasing stakes and institutions/hedge funds owning 99.04% of Glaukos stock.
• Analysts are generally positive: Glaukos has a Moderate Buy consensus rating, with 12 Buy ratings and an average target price of $146.17, while the company recently beat earnings and revenue estimates.

Havemeyer Place LP purchased a new position in shares of Glaukos Corporation (NYSE:GKOS - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 13,557 shares of the medical instruments supplier's stock, valued at approximately $1,531,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. AustralianSuper Pty Ltd grew its position in shares of Glaukos by 10.8% in the third quarter. AustralianSuper Pty Ltd now owns 449,846 shares of the medical instruments supplier's stock valued at $36,685,000 after purchasing an additional 43,750 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Glaukos by 4.3% in the third quarter. JPMorgan Chase & Co. now owns 670,083 shares of the medical instruments supplier's stock valued at $54,645,000 after purchasing an additional 27,646 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Glaukos by 460.8% in the fourth quarter. SG Americas Securities LLC now owns 60,232 shares of the medical instruments supplier's stock valued at $6,801,000 after purchasing an additional 49,492 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Glaukos by 32.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 355,279 shares of the medical instruments supplier's stock worth $39,336,000 after buying an additional 87,781 shares in the last quarter. Finally, TD Asset Management Inc acquired a new stake in Glaukos during the third quarter worth approximately $1,157,000. Institutional investors and hedge funds own 99.04% of the company's stock.

Insiders Place Their Bets

In other news, Director Leana Wen sold 1,700 shares of Glaukos stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $143.35, for a total value of $243,695.00. Following the completion of the transaction, the director directly owned 19,739 shares of the company's stock, valued at approximately $2,829,585.65. This trade represents a 7.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gilbert H. Kliman sold 5,000 shares of Glaukos stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $140.76, for a total value of $703,800.00. Following the completion of the transaction, the director directly owned 35,528 shares of the company's stock, valued at approximately $5,000,921.28. This trade represents a 12.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 45,930 shares of company stock valued at $6,321,363. Insiders own 5.90% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on GKOS shares. Citigroup increased their price target on Glaukos from $135.00 to $140.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. JPMorgan Chase & Co. increased their price target on Glaukos from $120.00 to $140.00 and gave the stock an "overweight" rating in a research report on Thursday, April 30th. BTIG Research increased their price target on Glaukos from $141.00 to $162.00 and gave the stock a "buy" rating in a research report on Thursday, May 21st. Wells Fargo & Company raised their target price on Glaukos from $135.00 to $138.00 and gave the company an "overweight" rating in a report on Thursday, April 30th. Finally, Wall Street Zen downgraded Glaukos from a "buy" rating to a "hold" rating in a report on Saturday, May 30th. Twelve research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $146.17.

Glaukos Stock Up 2.5%

Shares of GKOS opened at $124.79 on Friday. The company has a market capitalization of $7.33 billion, a PE ratio of -38.05 and a beta of 0.82. Glaukos Corporation has a 12 month low of $73.16 and a 12 month high of $148.11. The stock's 50-day moving average price is $122.29 and its two-hundred day moving average price is $115.12. The company has a current ratio of 5.43, a quick ratio of 4.73 and a debt-to-equity ratio of 0.10.

Glaukos (NYSE:GKOS - Get Free Report) last announced its earnings results on Wednesday, April 29th. The medical instruments supplier reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.12. The firm had revenue of $150.57 million for the quarter, compared to the consensus estimate of $137.00 million. Glaukos had a negative return on equity of 6.92% and a negative net margin of 34.34%.The business's quarterly revenue was up 41.2% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.22) EPS. On average, analysts anticipate that Glaukos Corporation will post -0.57 EPS for the current year.

Glaukos Company Profile

Glaukos Corporation is a medical technology company specializing in the development, manufacturing and commercialization of innovative therapies for patients with glaucoma and other chronic eye diseases. The company's core offerings focus on micro-invasive glaucoma surgery (MIGS), designed to reduce intraocular pressure and manage glaucoma more safely and effectively than traditional surgical approaches. Glaukos's flagship products include the iStent, iStent inject and iStent infinite trabecular micro-bypass stents, which are implanted during cataract surgery to improve aqueous outflow and help control eye pressure.

Beyond its MIGS portfolio, Glaukos has expanded into sustained drug-delivery solutions.

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