Glaukos Corporation (NYSE:GKOS) Shares Sold by Natixis Advisors LLC

Key Points

• Natixis Advisors LLC has reduced its stake in Glaukos Corporation by 12.9%, now holding approximately 29,871 shares worth $2.94 million.
• Glaukos reported a 29.7% year-over-year increase in quarterly revenue, totaling $124.12 million, while beating earnings per share estimates.
• According to analysts, Glaukos has a consensus rating of "Moderate Buy" with an average price target of $127.42.

Natixis Advisors LLC decreased its holdings in shares of Glaukos Corporation (NYSE:GKOS - Free Report) by 12.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,871 shares of the medical instruments supplier's stock after selling 4,428 shares during the quarter. Natixis Advisors LLC owned approximately 0.05% of Glaukos worth $2,940,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Bayforest Capital Ltd acquired a new position in Glaukos in the first quarter valued at $141,000. Thornburg Investment Management Inc. boosted its stake in shares of Glaukos by 10.6% during the first quarter. Thornburg Investment Management Inc. now owns 50,430 shares of the medical instruments supplier's stock worth $4,963,000 after buying an additional 4,847 shares during the period. XTX Topco Ltd purchased a new position in shares of Glaukos during the first quarter worth about $352,000. Corton Capital Inc. purchased a new position in shares of Glaukos during the first quarter worth about $229,000. Finally, LPL Financial LLC raised its stake in Glaukos by 25.1% during the 1st quarter. LPL Financial LLC now owns 15,775 shares of the medical instruments supplier's stock valued at $1,553,000 after acquiring an additional 3,163 shares during the last quarter. Hedge funds and other institutional investors own 99.04% of the company's stock.

Glaukos Trading Down 3.6%

Shares of NYSE GKOS traded down $3.20 during midday trading on Friday, reaching $84.80. 812,044 shares of the stock were exchanged, compared to its average volume of 965,394. 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 company has a market capitalization of $4.86 billion, a P/E ratio of -51.39 and a beta of 0.78. The stock has a 50 day moving average price of $97.37 and a 200-day moving average price of $106.66. Glaukos Corporation has a 52-week low of $77.10 and a 52-week high of $163.71.

Glaukos (NYSE:GKOS - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The medical instruments supplier reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.02. Glaukos had a negative return on equity of 8.59% and a negative net margin of 21.43%. The company had revenue of $124.12 million during the quarter, compared to the consensus estimate of $115.49 million. During the same period in the previous year, the firm posted ($0.52) EPS. Glaukos's revenue was up 29.7% on a year-over-year basis. Equities research 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 equities research analysts have weighed in on GKOS shares. Needham & Company LLC lowered their price objective on Glaukos from $176.00 to $115.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Morgan Stanley decreased their price target on Glaukos from $110.00 to $72.00 and set an "underweight" rating on the stock in a research note on Tuesday, May 6th. Piper Sandler cut their price objective on Glaukos from $180.00 to $165.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. William Blair upgraded shares of Glaukos to a "strong-buy" rating in a research report on Thursday, July 31st. Finally, Stephens cut their price target 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 investment analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus 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.