Kingdon Capital Management L.L.C. Acquires New Holdings in Glaukos Corporation $GKOS

Key Points

• Kingdon Capital Management has acquired a new stake in Glaukos Corporation, purchasing 74,400 shares valued at approximately $7.32 million, bringing its ownership to 0.13% of the company.
• Glaukos reported a quarterly earnings per share (EPS) of ($0.24), slightly beating analysts' expectations, and recorded a 29.7% increase in revenue year-over-year.
• Institutional investors own 99.04% of Glaukos stock, with several hedge funds significantly increasing their stakes in the first quarter.

Kingdon Capital Management L.L.C. acquired a new stake in shares of Glaukos Corporation (NYSE:GKOS - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 74,400 shares of the medical instruments supplier's stock, valued at approximately $7,322,000. Kingdon Capital Management L.L.C. owned about 0.13% of Glaukos at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Bessemer Group Inc. raised its stake in Glaukos by 133.9% in the first quarter. Bessemer Group Inc. now owns 276 shares of the medical instruments supplier's stock worth $27,000 after buying an additional 158 shares in the last quarter. Whipplewood Advisors LLC raised its stake in 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 buying an additional 277 shares in the last quarter. First Horizon Advisors Inc. raised its stake in Glaukos by 72.9% in the first quarter. First Horizon Advisors Inc. now owns 377 shares of the medical instruments supplier's stock worth $37,000 after buying an additional 159 shares in the last quarter. Versant Capital Management Inc raised its stake in Glaukos by 583.9% in the first quarter. Versant Capital Management Inc now owns 383 shares of the medical instruments supplier's stock worth $38,000 after buying an additional 327 shares in the last quarter. Finally, CoreCap Advisors LLC raised its stake in 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 in the last quarter. 99.04% of the stock is owned by institutional investors.

Glaukos Stock Up 0.5%

Shares of NYSE:GKOS traded up $0.44 during trading on Wednesday, reaching $94.39. 678,611 shares of the stock traded hands, compared to its average volume of 935,358. The stock has a 50-day moving average of $95.48 and a two-hundred day moving average of $98.41. Glaukos Corporation has a 52-week low of $77.10 and a 52-week high of $163.71. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.69 and a current ratio of 5.51. The stock has a market cap of $5.41 billion, a P/E ratio of -57.20 and a beta of 0.77.

Glaukos (NYSE:GKOS - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The medical instruments supplier reported ($0.24) EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $115.49 million. During the same quarter in the prior year, the company posted ($0.52) earnings per share. The business's revenue for the quarter was up 29.7% on a year-over-year basis. Glaukos has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Glaukos Corporation will post -1.08 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on GKOS. BTIG Research reissued a "buy" rating on shares of Glaukos in a research note on Monday, July 14th. William Blair raised shares of Glaukos to a "strong-buy" rating in a research note on Thursday, July 31st. Wells Fargo & Company upped their price objective on shares of Glaukos from $86.00 to $92.00 and gave the stock an "equal weight" rating in a report on Thursday, July 31st. Zacks Research cut shares of Glaukos from a "strong-buy" rating to a "hold" rating in a report on Friday, August 15th. Finally, Mizuho set a $130.00 price objective on shares of Glaukos in a 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 given a Sell rating to the stock. According to MarketBeat, Glaukos currently has an average rating of "Moderate Buy" and a consensus target price of $127.42.

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.