Neuberger Berman Group LLC Sells 26,345 Shares of Glaukos Corporation $GKOS

Key Points

• Neuberger Berman Group LLC has reduced its holdings in Glaukos Corporation by 45.9%, currently owning 31,113 shares valued at approximately $3,062,000.
• Institutional ownership in Glaukos is significant, with hedge funds and other institutions holding 99.04% of the company's stock.
• Analyst ratings for Glaukos show a mixed outlook, with an average rating of "Moderate Buy" and a price target around $127.42, despite recent target reductions from some firms like Morgan Stanley.

Neuberger Berman Group LLC lowered its position in Glaukos Corporation (NYSE:GKOS - Free Report) by 45.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 31,113 shares of the medical instruments supplier's stock after selling 26,345 shares during the period. Neuberger Berman Group LLC owned 0.05% of Glaukos worth $3,062,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Primecap Management Co. CA boosted its holdings in Glaukos by 0.3% in the first quarter. Primecap Management Co. CA now owns 1,218,475 shares of the medical instruments supplier's stock worth $119,922,000 after acquiring an additional 4,150 shares in the last quarter. Westfield Capital Management Co. LP boosted its holdings in Glaukos by 34.3% in the first quarter. Westfield Capital Management Co. LP now owns 1,084,184 shares of the medical instruments supplier's stock worth $106,705,000 after acquiring an additional 277,033 shares in the last quarter. Gilder Gagnon Howe & Co. LLC boosted 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 acquiring an additional 166,677 shares in the last quarter. Northern Trust Corp boosted its holdings in Glaukos by 7.4% in the fourth quarter. Northern Trust Corp now owns 578,673 shares of the medical instruments supplier's stock worth $86,766,000 after acquiring an additional 40,052 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Glaukos by 21.8% in the first quarter. Principal Financial Group Inc. now owns 327,036 shares of the medical instruments supplier's stock valued at $32,187,000 after purchasing an additional 58,502 shares in the last quarter. Institutional investors own 99.04% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on GKOS. Mizuho set a $130.00 target price on Glaukos in a report on Thursday, July 31st. Needham & Company LLC dropped their target price on Glaukos from $176.00 to $115.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Stifel Nicolaus dropped their target price on Glaukos from $140.00 to $115.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. UBS Group raised their target price on Glaukos from $125.00 to $134.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Finally, BTIG Research restated a "buy" rating on shares of Glaukos in a report on Monday, July 14th. One 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 given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $127.42.

Glaukos Stock Performance

Glaukos stock traded down $0.1340 during mid-day trading on Wednesday, reaching $90.8960. 666,860 shares of the company's stock were exchanged, compared to its average volume of 1,272,274. The business's fifty day simple moving average is $96.48 and its 200 day simple moving average is $102.34. The firm has a market capitalization of $5.21 billion, a PE ratio of -55.09 and a beta of 0.78. Glaukos Corporation has a one year low of $77.10 and a one year high of $163.71. The company has a quick ratio of 4.69, a current ratio of 5.51 and a debt-to-equity ratio of 0.09.

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

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.