Glaukos Corporation $GKOS Shares Sold by Polar Asset Management Partners Inc.

Key Points

• Polar Asset Management Partners Inc. significantly reduced its stake in Glaukos Corporation, cutting holdings by 88.7% during the first quarter, leaving them with just 17,991 shares valued at approximately $1.77 million.
• Glaukos Corporation's earnings report showed a loss of ($0.24) per share, which exceeded analysts' expectations, along with a revenue increase of 29.7% year-over-year to $124.12 million.
• Analysts have mixed ratings on Glaukos, with an average target price of $127.42, indicating a moderate buy recommendation along with recent upgrades and downgrades from various equity analysts.

Polar Asset Management Partners Inc. lowered its position in Glaukos Corporation (NYSE:GKOS - Free Report) by 88.7% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 17,991 shares of the medical instruments supplier's stock after selling 141,719 shares during the period. Polar Asset Management Partners Inc.'s holdings in Glaukos were worth $1,771,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bessemer Group Inc. lifted its holdings in Glaukos by 133.9% in the 1st quarter. Bessemer Group Inc. now owns 276 shares of the medical instruments supplier's stock valued at $27,000 after purchasing an additional 158 shares in the last quarter. Whipplewood Advisors LLC raised its holdings in shares of Glaukos by 3,957.1% during the 1st quarter. Whipplewood Advisors LLC now owns 284 shares of the medical instruments supplier's stock worth $28,000 after acquiring an additional 277 shares during the period. First Horizon Advisors Inc. raised its holdings in shares of Glaukos by 72.9% during the 1st quarter. First Horizon Advisors Inc. now owns 377 shares of the medical instruments supplier's stock worth $37,000 after acquiring an additional 159 shares during the period. Versant Capital Management Inc raised its holdings in shares of Glaukos by 583.9% during the 1st quarter. Versant Capital Management Inc now owns 383 shares of the medical instruments supplier's stock worth $38,000 after acquiring an additional 327 shares during the period. Finally, CoreCap Advisors LLC raised its holdings in shares of Glaukos by 36.4% during the 4th quarter. CoreCap Advisors LLC now owns 750 shares of the medical instruments supplier's stock worth $112,000 after acquiring an additional 200 shares during the period. Hedge funds and other institutional investors own 99.04% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on GKOS shares. Mizuho set a $130.00 price target on Glaukos in a report on Thursday, July 31st. William Blair upgraded Glaukos to a "strong-buy" rating in a report on Thursday, July 31st. Zacks Research lowered Glaukos from a "strong-buy" rating to a "hold" rating in a report on Friday, August 15th. Wells Fargo & Company lifted their price target on Glaukos from $86.00 to $92.00 and gave the stock an "equal weight" rating in a report on Thursday, July 31st. Finally, UBS Group boosted their price objective on shares of Glaukos from $125.00 to $134.00 and gave the company a "buy" rating in a report on Thursday, July 31st. One research 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 issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $124.83.

Glaukos Trading Down 3.5%

GKOS traded down $3.20 on Wednesday, hitting $87.72. The company had a trading volume of 866,970 shares, compared to its average volume of 932,029. The firm has a market cap of $5.03 billion, a P/E ratio of -53.16 and a beta of 0.77. Glaukos Corporation has a 1 year low of $77.10 and a 1 year high of $163.71. The company's fifty day moving average price is $94.54 and its 200 day moving average price is $96.40. The company has a current ratio of 5.51, a quick ratio of 4.69 and a debt-to-equity ratio of 0.09.

Glaukos (NYSE:GKOS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The medical instruments supplier reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.02. The firm had revenue of $124.12 million for the quarter, compared to analyst estimates of $115.49 million. Glaukos had a negative net margin of 21.43% and a negative return on equity of 8.59%. Glaukos's revenue was up 29.7% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.52) EPS. Glaukos has set its FY 2025 guidance at EPS. As a group, equities 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.