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

A number of other hedge funds also recently made changes to their positions in GKOS. Bessemer Group Inc. lifted its holdings in Glaukos by 133.9% during the 1st quarter. Bessemer Group Inc. now owns 276 shares of the medical instruments supplier's stock worth $27,000 after purchasing an additional 158 shares during the last quarter. Whipplewood Advisors LLC lifted its holdings in 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 purchasing an additional 277 shares during the last quarter. First Horizon Advisors Inc. lifted its holdings in 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 purchasing an additional 159 shares during the last quarter. Versant Capital Management Inc lifted its holdings in 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 purchasing an additional 327 shares during the last quarter. Finally, CoreCap Advisors LLC lifted its holdings in 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 purchasing an additional 200 shares during the last quarter. 99.04% of the stock is owned by institutional investors and hedge funds.

Glaukos Price Performance

Shares of Glaukos stock traded down $3.20 during trading on Friday, reaching $84.80. 812,044 shares of the company's stock were exchanged, compared to its average volume of 1,276,931. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.69 and a current ratio of 5.51. Glaukos Corporation has a 1-year low of $77.10 and a 1-year high of $163.71. The company has a market cap of $4.86 billion, a P/E ratio of -51.39 and a beta of 0.78. The firm's 50-day moving average price is $97.18 and its 200 day moving average price is $106.14.

Glaukos (NYSE:GKOS - Get Free Report) last posted 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. Glaukos had a negative return on equity of 8.59% and a negative net margin of 21.43%. The company had revenue of $124.12 million during the quarter, compared to analysts' expectations of $115.49 million. During the same quarter in the previous year, the firm earned ($0.52) EPS. Glaukos's revenue was up 29.7% on a year-over-year basis. As a group, research analysts anticipate that Glaukos Corporation will post -1.08 earnings per share for the current year.

Analysts Set New Price Targets

GKOS has been the subject of several research reports. William Blair raised Glaukos to a "strong-buy" rating in a report on Thursday, July 31st. Mizuho set a $130.00 price target on Glaukos in a report on Thursday, July 31st. Stephens lowered their price objective on Glaukos from $140.00 to $115.00 and set an "overweight" rating on the stock in a research note on Friday, May 2nd. Morgan Stanley lowered their price objective on Glaukos from $110.00 to $72.00 and set an "underweight" rating on the stock in a research note on Tuesday, May 6th. Finally, Stifel Nicolaus lowered their price objective on Glaukos from $140.00 to $115.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Glaukos presently has a consensus rating of "Moderate Buy" and an average target price of $127.42.

About Glaukos

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.