Primecap Management Co. CA Buys 4,150 Shares of Glaukos Corporation (NYSE:GKOS)

Key Points

• Primecap Management Co. CA increased its stake in Glaukos Corporation by 0.3%, acquiring an additional 4,150 shares, bringing its total holdings to 1,218,475 shares valued at approximately $119.9 million.
• Several hedge funds significantly boosted their positions in Glaukos, with Bessemer Group Inc. increasing its stake by 133.9% and Whipplewood Advisors LLC raising its holdings by 3,957.1% in the first quarter.
• Glaukos reported earnings of ($0.24) per share for the latest quarter, outperforming analyst expectations, with revenue up 29.7% year-over-year to $124.12 million.

Primecap Management Co. CA increased its holdings in shares of Glaukos Corporation (NYSE:GKOS - Free Report) by 0.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,218,475 shares of the medical instruments supplier's stock after acquiring an additional 4,150 shares during the period. Primecap Management Co. CA owned approximately 2.13% of Glaukos worth $119,922,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Westfield Capital Management Co. LP lifted its stake in shares of 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 buying an additional 277,033 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Glaukos by 2.7% in the first quarter. PNC Financial Services Group Inc. now owns 35,471 shares of the medical instruments supplier's stock worth $3,491,000 after buying an additional 930 shares in the last quarter. Blueshift Asset Management LLC bought a new position in shares of Glaukos in the first quarter worth approximately $257,000. Bayforest Capital Ltd bought a new position in shares of Glaukos in the first quarter worth approximately $141,000. Finally, Thornburg Investment Management Inc. lifted its stake in shares of Glaukos by 10.6% in 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 in the last quarter. Institutional investors own 99.04% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on GKOS. BTIG Research reiterated a "buy" rating on shares of Glaukos in a research note on Monday, July 14th. Stephens decreased their price objective 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. Piper Sandler decreased their price objective on shares of Glaukos from $180.00 to $165.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Stifel Nicolaus decreased their price objective on shares of Glaukos from $140.00 to $115.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Finally, Morgan Stanley decreased their price objective on shares of Glaukos from $110.00 to $72.00 and set an "underweight" rating for the company in a report on Tuesday, May 6th. 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 data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $127.42.

Glaukos Stock Performance

GKOS stock traded up $0.63 during midday trading on Monday, reaching $85.28. 165,851 shares of the company's stock traded hands, compared to its average volume of 959,945. Glaukos Corporation has a 52-week low of $77.10 and a 52-week high of $163.71. The stock has a market cap of $4.89 billion, a P/E ratio of -51.62 and a beta of 0.78. 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 stock's 50-day moving average is $97.18 and its 200 day moving average is $105.38.

Glaukos (NYSE:GKOS - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The medical instruments supplier reported ($0.24) earnings per share for the quarter, topping analysts' consensus estimates of ($0.26) by $0.02. The business had revenue of $124.12 million during 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%. The company's revenue was up 29.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.52) earnings per share. As a group, analysts anticipate that Glaukos Corporation will post -1.08 EPS for the current year.

Glaukos 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.