M&T Bank Corp Buys 24,969 Shares of Glaukos Corporation $GKOS

Key Points

• M&T Bank Corp increased its stake in Glaukos by 683.7% in Q4, buying 24,969 shares to hold 28,621 shares valued at about $3.23 million.
• Insiders have been net sellers recently, offloading a total of 19,657 shares (~$2.25 million) in the last three months (including sales by the CFO and a director), with insiders now owning 6.40% of the company.
• Glaukos posted Q4 revenue of $143.12 million (up 35.6% YoY) but missed EPS (-$0.28 vs. -$0.22), and analysts maintain a consensus "Moderate Buy" rating with an average price target of $133.69.

M&T Bank Corp raised its stake in Glaukos Corporation (NYSE:GKOS - Free Report) by 683.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,621 shares of the medical instruments supplier's stock after acquiring an additional 24,969 shares during the quarter. M&T Bank Corp's holdings in Glaukos were worth $3,232,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. First Horizon Corp lifted its holdings in shares of Glaukos by 1,715.4% in the fourth quarter. First Horizon Corp now owns 236 shares of the medical instruments supplier's stock worth $27,000 after acquiring an additional 223 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of Glaukos by 102.6% in the third quarter. UMB Bank n.a. now owns 312 shares of the medical instruments supplier's stock worth $25,000 after acquiring an additional 158 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Glaukos by 111.4% in the fourth quarter. Farther Finance Advisors LLC now owns 408 shares of the medical instruments supplier's stock worth $46,000 after acquiring an additional 215 shares during the last quarter. Salomon & Ludwin LLC lifted its holdings in shares of Glaukos by 111.2% in the fourth quarter. Salomon & Ludwin LLC now owns 454 shares of the medical instruments supplier's stock worth $51,000 after acquiring an additional 239 shares during the last quarter. Finally, REAP Financial Group LLC bought a new position in shares of Glaukos in the third quarter worth about $40,000. Institutional investors own 99.04% of the company's stock.

Analyst Upgrades and Downgrades

GKOS has been the subject of a number of research reports. BTIG Research reissued a "buy" rating and issued a $131.00 target price on shares of Glaukos in a report on Wednesday, February 18th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Glaukos in a report on Tuesday, April 21st. Wall Street Zen lowered shares of Glaukos from a "buy" rating to a "hold" rating in a report on Saturday, February 21st. The Goldman Sachs Group reiterated a "buy" rating and issued a $138.00 price objective on shares of Glaukos in a report on Friday, January 9th. Finally, Stephens raised their price objective on shares of Glaukos from $115.00 to $145.00 and gave the company an "overweight" rating in a report on Friday, January 2nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $133.69.

Insider Buying and Selling

In other Glaukos news, CFO Alex R. Thurman sold 2,511 shares of the stock in a transaction that occurred on Wednesday, March 25th. The shares were sold at an average price of $106.46, for a total transaction of $267,321.06. Following the completion of the sale, the chief financial officer owned 41,967 shares of the company's stock, valued at approximately $4,467,806.82. This represents a 5.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Aimee S. Weisner sold 15,000 shares of the stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $117.38, for a total transaction of $1,760,700.00. Following the sale, the director directly owned 18,806 shares of the company's stock, valued at $2,207,448.28. This represents a 44.37% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 19,657 shares of company stock valued at $2,250,060 in the last three months. Insiders own 6.40% of the company's stock.

Glaukos Stock Up 0.4%

Shares of NYSE GKOS opened at $121.95 on Tuesday. The firm has a market cap of $7.14 billion, a PE ratio of -37.41 and a beta of 0.78. The company has a 50 day simple moving average of $113.34 and a 200 day simple moving average of $107.11. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.69 and a quick ratio of 4.06. Glaukos Corporation has a 1 year low of $73.16 and a 1 year high of $130.23.

Glaukos (NYSE:GKOS - Get Free Report) last released its earnings results on Tuesday, February 17th. The medical instruments supplier reported ($0.28) earnings per share for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.06). The firm had revenue of $143.12 million for the quarter, compared to analyst estimates of $132.16 million. Glaukos had a negative net margin of 36.99% and a negative return on equity of 7.00%. The business's revenue for the quarter was up 35.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.40) EPS. On average, research analysts forecast that Glaukos Corporation will post -0.57 EPS for the current year.

Glaukos 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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