Glaukos Corporation $GKOS Shares Bought by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC significantly increased its holdings in Glaukos Corporation by 212.7%, acquiring an additional 62,963 shares in the first quarter, bringing its total ownership to 92,564 shares valued at approximately $9.11 million.
• Glaukos reported a revenue increase of 29.7% year-over-year, with earnings per share beating analyst expectations at ($0.24) compared to a forecast of ($0.26).
• Analysts currently have a consensus rating of "Moderate Buy" for Glaukos, with an average price target of $124.83, reflecting optimism despite some recent ratings downgrades.

Intech Investment Management LLC increased its stake in Glaukos Corporation (NYSE:GKOS - Free Report) by 212.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 92,564 shares of the medical instruments supplier's stock after acquiring an additional 62,963 shares during the period. Intech Investment Management LLC owned approximately 0.16% of Glaukos worth $9,110,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Wellington Management Group LLP boosted its position in shares of Glaukos by 6.1% in the first quarter. Wellington Management Group LLP now owns 2,290,790 shares of the medical instruments supplier's stock worth $225,460,000 after acquiring an additional 131,251 shares during the last quarter. Alliancebernstein L.P. boosted its position in shares of Glaukos by 56.5% in the first quarter. Alliancebernstein L.P. now owns 1,277,539 shares of the medical instruments supplier's stock worth $125,735,000 after acquiring an additional 461,386 shares during the last quarter. Primecap Management Co. CA lifted its position in Glaukos by 0.3% during the first quarter. Primecap Management Co. CA now owns 1,218,475 shares of the medical instruments supplier's stock valued at $119,922,000 after buying an additional 4,150 shares in the last quarter. Westfield Capital Management Co. LP lifted its position in Glaukos by 34.3% during the first 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. Finally, Driehaus Capital Management LLC lifted its position in Glaukos by 18.7% during the first quarter. Driehaus Capital Management LLC now owns 973,625 shares of the medical instruments supplier's stock valued at $95,824,000 after buying an additional 153,502 shares in the last quarter. 99.04% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. BTIG Research reaffirmed a "buy" rating and set a $118.00 price target on shares of Glaukos in a research report on Wednesday. Mizuho set a $130.00 price target on shares of Glaukos in a research report on Thursday, July 31st. William Blair raised shares of Glaukos to a "strong-buy" rating in a research report on Thursday, July 31st. UBS Group lifted their price target on shares of Glaukos from $125.00 to $134.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Finally, Wells Fargo & Company lifted their price target on shares of Glaukos from $86.00 to $92.00 and gave the company an "equal weight" rating in a research report on Thursday, July 31st. One equities 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $124.83.

Glaukos Stock Performance

Glaukos stock traded down $4.73 during mid-day trading on Friday, reaching $82.74. The company's stock had a trading volume of 883,604 shares, compared to its average volume of 636,786. The firm has a market cap of $4.75 billion, a price-to-earnings ratio of -50.15 and a beta of 0.77. The business has a 50 day moving average price of $93.48 and a 200-day moving average price of $95.65. 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 Corporation has a twelve month low of $77.10 and a twelve month 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) EPS for the quarter, topping analysts' consensus estimates of ($0.26) by $0.02. The firm 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%. The firm's revenue was up 29.7% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.52) earnings per share. Glaukos has set its FY 2025 guidance at EPS. Sell-side analysts predict 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.