Legato Capital Management LLC Reduces Holdings in Glaukos Corporation (NYSE:GKOS)

Key Points

• Legato Capital Management LLC reduced its holdings in Glaukos Corporation by 46.9%, selling 4,397 shares, resulting in a total ownership of 4,984 shares valued at approximately $491,000.
• Glaukos reported a quarterly earnings per share (EPS) of (0.22), which exceeded analysts' expectations, alongside a revenue increase of 24.6% year-over-year.
• Analysts have revised Glaukos' price targets, with Needham & Company and Stifel Nicolaus both setting new targets of $115.00, while the average consensus rating remains a "Moderate Buy" with a target of approximately $134.67.

Legato Capital Management LLC reduced its stake in Glaukos Corporation (NYSE:GKOS - Free Report) by 46.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,984 shares of the medical instruments supplier's stock after selling 4,397 shares during the quarter. Legato Capital Management LLC's holdings in Glaukos were worth $491,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Glaukos by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 5,974,971 shares of the medical instruments supplier's stock worth $895,887,000 after purchasing an additional 101,838 shares in the last quarter. Invesco Ltd. increased its holdings in Glaukos by 4.9% in the fourth quarter. Invesco Ltd. now owns 1,458,635 shares of the medical instruments supplier's stock worth $218,708,000 after purchasing an additional 68,310 shares in the last quarter. Geode Capital Management LLC increased its holdings in Glaukos by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 1,197,215 shares of the medical instruments supplier's stock worth $179,555,000 after purchasing an additional 25,199 shares in the last quarter. Gilder Gagnon Howe & Co. LLC increased its holdings in Glaukos by 25.3% in the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 825,276 shares of the medical instruments supplier's stock worth $123,742,000 after purchasing an additional 166,677 shares in the last quarter. Finally, Alliancebernstein L.P. increased its holdings in Glaukos by 1,235.4% in the fourth quarter. Alliancebernstein L.P. now owns 816,153 shares of the medical instruments supplier's stock worth $122,374,000 after purchasing an additional 755,035 shares in the last quarter. 99.04% of the stock is owned by institutional investors and hedge funds.

Glaukos Stock Down 0.1%

Glaukos stock traded down $0.10 during trading on Friday, hitting $94.28. 851,500 shares of the company were exchanged, compared to its average volume of 826,765. The business's 50 day moving average is $98.53 and its 200 day moving average is $110.69. The company has a current ratio of 6.49, a quick ratio of 5.62 and a debt-to-equity ratio of 0.09. Glaukos Corporation has a 52 week low of $77.10 and a 52 week high of $163.71. The company has a market capitalization of $5.39 billion, a P/E ratio of -39.78 and a beta of 0.82.

Glaukos (NYSE:GKOS - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The medical instruments supplier reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.11. Glaukos had a negative return on equity of 10.66% and a negative net margin of 31.40%. The business had revenue of $106.66 million for the quarter, compared to analysts' expectations of $102.78 million. During the same quarter in the previous year, the firm earned ($0.70) earnings per share. The business's revenue was up 24.6% on a year-over-year basis. Analysts predict that Glaukos Corporation will post -1.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Stephens lowered their target price on Glaukos from $140.00 to $115.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. Stifel Nicolaus decreased their price objective on Glaukos from $140.00 to $115.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Mizuho decreased their price objective on Glaukos from $200.00 to $175.00 and set an "outperform" rating for the company in a report on Wednesday, April 16th. Piper Sandler decreased their price objective on Glaukos from $180.00 to $165.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Finally, Needham & Company LLC decreased their price objective on Glaukos from $176.00 to $115.00 and set a "buy" rating for the company in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, Glaukos has an average rating of "Moderate Buy" and a consensus target price of $134.67.

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.