Nuveen LLC Takes $31.47 Million Position in Glaukos Corporation $GKOS

Key Points

• Nuveen LLC has acquired a new stake in Glaukos Corporation, purchasing approximately 319,795 shares worth about $31.5 million, bringing its total ownership to around 0.56% by the end of Q1.
• Institutional ownership is high, with 99.04% of Glaukos stock being held by institutional investors, indicating a strong interest in the company.
• Glaukos reported a 29.7% year-over-year increase in revenue, totaling $124.12 million, while its earnings per share slightly beat estimates at ($0.24).

Nuveen LLC purchased a new position in Glaukos Corporation (NYSE:GKOS - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 319,795 shares of the medical instruments supplier's stock, valued at approximately $31,474,000. Nuveen LLC owned 0.56% of Glaukos at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Cynosure Group LLC increased its holdings in Glaukos by 51.8% in the 1st quarter. Cynosure Group LLC now owns 3,052 shares of the medical instruments supplier's stock worth $300,000 after buying an additional 1,042 shares during the period. Primecap Management Co. CA boosted its position in Glaukos by 0.3% in the 1st quarter. Primecap Management Co. CA now owns 1,218,475 shares of the medical instruments supplier's stock worth $119,922,000 after purchasing an additional 4,150 shares in the last quarter. Westfield Capital Management Co. LP boosted its position in Glaukos by 34.3% in the 1st quarter. Westfield Capital Management Co. LP now owns 1,084,184 shares of the medical instruments supplier's stock worth $106,705,000 after purchasing an additional 277,033 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Glaukos by 2.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 35,471 shares of the medical instruments supplier's stock valued at $3,491,000 after buying an additional 930 shares in the last quarter. Finally, Blueshift Asset Management LLC purchased a new position in shares of Glaukos during the 1st quarter valued at approximately $257,000. Institutional investors and hedge funds own 99.04% of the company's stock.

Glaukos Trading Up 5.3%

NYSE GKOS traded up $4.7750 during trading on Friday, hitting $94.5650. The stock had a trading volume of 166,596 shares, compared to its average volume of 949,282. The company has a market capitalization of $5.42 billion, a PE ratio of -57.16 and a beta of 0.78. The company has a quick ratio of 4.69, a current ratio of 5.51 and a debt-to-equity ratio of 0.09. The firm has a 50 day moving average price of $96.33 and a 200 day moving average price of $101.88. Glaukos Corporation has a twelve month low of $77.10 and a twelve month high of $163.71.

Glaukos (NYSE:GKOS - Get Free Report) last released its 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. The company had revenue of $124.12 million during the quarter, compared to the consensus estimate of $115.49 million. Glaukos had a negative return on equity of 8.59% and a negative net margin of 21.43%.Glaukos's revenue was up 29.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.52) EPS. Glaukos has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that Glaukos Corporation will post -1.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GKOS. UBS Group increased their target price on Glaukos from $125.00 to $134.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Mizuho set a $130.00 price objective on Glaukos in a report on Thursday, July 31st. Stifel Nicolaus decreased their price objective on Glaukos from $140.00 to $115.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. BTIG Research restated a "buy" rating on shares of Glaukos in a report on Monday, July 14th. Finally, Truist Financial reaffirmed a "buy" rating and issued a $135.00 target price (down from $140.00) on shares of Glaukos in a research note on Thursday, May 1st. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company 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.