Oppenheimer Asset Management Inc. Invests $2.73 Million in Glaukos Corporation $GKOS

Key Points

• Oppenheimer Asset Management initiated a $2.73 million position in Glaukos during the second quarter, while institutional investors collectively own 99.04% of the company.
• Glaukos reported stronger-than-expected quarterly results, including revenue of $185.61 million—up 49.6% year over year—and an adjusted loss of $0.14 per share versus the $0.21 consensus loss estimate.
• Analyst sentiment remains broadly positive, with 12 Buy ratings and a consensus “Moderate Buy” rating, although insiders sold $19.1 million of stock over the past three months.

Oppenheimer Asset Management Inc. bought a new stake in shares of Glaukos Corporation (NYSE:GKOS - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 19,564 shares of the medical instruments supplier's stock, valued at approximately $2,734,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AQR Capital Management LLC boosted its holdings in Glaukos by 2.6% in the first quarter. AQR Capital Management LLC now owns 7,788 shares of the medical instruments supplier's stock valued at $766,000 after acquiring an additional 198 shares in the last quarter. Jones Financial Companies Lllp increased its position in Glaukos by 1,405.9% during the 1st quarter. Jones Financial Companies Lllp now owns 2,560 shares of the medical instruments supplier's stock valued at $252,000 after purchasing an additional 2,390 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Glaukos by 41.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 229,994 shares of the medical instruments supplier's stock worth $22,636,000 after purchasing an additional 67,668 shares in the last quarter. M&T Bank Corp bought a new position in Glaukos in the 2nd quarter worth $203,000. Finally, Gamco Investors INC. ET AL lifted its position in shares of Glaukos by 10.7% in the 2nd quarter. Gamco Investors INC. ET AL now owns 8,001 shares of the medical instruments supplier's stock worth $826,000 after purchasing an additional 773 shares during the period. Institutional investors own 99.04% of the company's stock.

Glaukos Stock Down 2.3%

Shares of Glaukos stock opened at $185.01 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.46 and a current ratio of 5.04. The stock has a market capitalization of $10.91 billion, a PE ratio of -56.93 and a beta of 0.78. Glaukos Corporation has a 52-week low of $73.16 and a 52-week high of $190.00. The company has a 50-day simple moving average of $151.24 and a two-hundred day simple moving average of $129.36.

Glaukos (NYSE:GKOS - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The medical instruments supplier reported ($0.14) EPS for the quarter, beating analysts' consensus estimates of ($0.21) by $0.07. The firm had revenue of $185.61 million for the quarter, compared to analysts' expectations of $150.93 million. Glaukos had a negative net margin of 30.68% and a negative return on equity of 6.37%. The business's revenue for the quarter was up 49.6% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.24) earnings per share. On average, analysts anticipate that Glaukos Corporation will post -0.35 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Joseph E. Gilliam sold 60,000 shares of the company's stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $179.74, for a total value of $10,784,400.00. Following the transaction, the chief operating officer directly owned 72,588 shares of the company's stock, valued at approximately $13,046,967.12. This represents a 45.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Leana Wen sold 525 shares of the stock in a transaction on Friday, July 31st. The shares were sold at an average price of $167.63, for a total value of $88,005.75. Following the sale, the director owned 21,092 shares in the company, valued at approximately $3,535,651.96. This represents a 2.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 110,525 shares of company stock worth $19,125,006 in the last three months. Insiders own 5.90% of the company's stock.

Wall Street Analysts Forecast Growth

GKOS has been the topic of a number of research reports. Needham & Company LLC lifted their target price on shares of Glaukos from $150.00 to $201.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Weiss Ratings reissued a "sell (d-)" rating on shares of Glaukos in a research note on Friday, July 17th. HC Wainwright raised their price objective on shares of Glaukos from $168.00 to $195.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. William Blair reaffirmed an "outperform" rating on shares of Glaukos in a research report on Tuesday, May 26th. Finally, Wall Street Zen upgraded Glaukos from a "hold" rating to a "buy" rating in a report on Saturday, August 1st. Twelve research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Glaukos has a consensus rating of "Moderate Buy" and an average target price of $177.33.

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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