Invesco Ltd. Cuts Stake in Glaukos Corporation $GKOS

Key Points

• Invesco Ltd. has reduced its stake in Glaukos Corporation by 0.4%, selling 6,519 shares and now holds approximately 2.54% of the company worth $142.9 million.
• Several hedge funds have recently increased their holdings in Glaukos, with Russell Investments Group Ltd. increasing by 15.4% and Renaissance Technologies LLC by 30.6% in the last quarter.
• Glaukos reported a quarterly revenue of $124.12 million and an EPS of ($0.24), exceeding analyst expectations, while its stock has a current market price of $89.92.

Invesco Ltd. lowered its position in shares of Glaukos Corporation (NYSE:GKOS - Free Report) by 0.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,452,116 shares of the medical instruments supplier's stock after selling 6,519 shares during the period. Invesco Ltd. owned about 2.54% of Glaukos worth $142,917,000 at the end of the most recent reporting period.

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

Glaukos Stock Performance

Shares of NYSE:GKOS traded down $0.54 on Tuesday, hitting $88.98. 95,530 shares of the company were exchanged, compared to its average volume of 954,952. 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's 50 day moving average price is $96.74 and its 200 day moving average price is $102.50. Glaukos Corporation has a 1-year low of $77.10 and a 1-year high of $163.71. The firm has a market capitalization of $5.10 billion, a P/E ratio of -53.88 and a beta of 0.78.

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

Analyst Ratings Changes

GKOS has been the topic of several research reports. Morgan Stanley cut their price objective on Glaukos from $110.00 to $72.00 and set an "underweight" rating on the stock in a research report on Tuesday, May 6th. Zacks Research lowered Glaukos from a "strong-buy" rating to a "hold" rating in a research note on Friday. Truist Financial restated a "buy" rating and issued a $135.00 price objective (down from $140.00) on shares of Glaukos in a research note on Thursday, May 1st. UBS Group increased their price target on Glaukos from $125.00 to $134.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Finally, Stephens dropped their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Glaukos has an average rating of "Moderate Buy" and an average target price of $127.42.

Glaukos Company 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.