Public Sector Pension Investment Board Increases Stake in Glaukos Corporation (NYSE:GKOS)

Key Points

• The Public Sector Pension Investment Board increased its stake in Glaukos Corporation by 27.3% during the first quarter, owning 174,836 shares valued at approximately $17.2 million.
• Several institutional investors, including Nuveen LLC and Cynosure Group LLC, have also made significant changes to their positions in Glaukos, indicating a strong interest in the company.
• Analysts have set a consensus target price of $127.42 for Glaukos, with ratings ranging from "strong buy" to "sell."

Public Sector Pension Investment Board grew its stake in Glaukos Corporation (NYSE:GKOS - Free Report) by 27.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 174,836 shares of the medical instruments supplier's stock after buying an additional 37,455 shares during the quarter. Public Sector Pension Investment Board owned 0.31% of Glaukos worth $17,207,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Nuveen LLC purchased a new position in shares of Glaukos in the 1st quarter valued at about $31,474,000. Cynosure Group LLC raised its position in shares of Glaukos by 51.8% during the 1st quarter. Cynosure Group LLC now owns 3,052 shares of the medical instruments supplier's stock worth $300,000 after acquiring an additional 1,042 shares in the last quarter. Primecap Management Co. CA raised its position in shares of Glaukos by 0.3% during 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 acquiring an additional 4,150 shares in the last quarter. Westfield Capital Management Co. LP raised its position in shares of Glaukos by 34.3% during 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 acquiring an additional 277,033 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised 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 worth $3,491,000 after acquiring an additional 930 shares in the last quarter. Hedge funds and other institutional investors own 99.04% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. UBS Group raised their target price on Glaukos from $125.00 to $134.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Mizuho set a $130.00 target price on Glaukos in a research report on Thursday, July 31st. Piper Sandler cut their target price on Glaukos from $180.00 to $165.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. Stifel Nicolaus cut their target price on Glaukos from $140.00 to $115.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Finally, Wells Fargo & Company raised their target price on Glaukos from $86.00 to $92.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 31st. One investment analyst has rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $127.42.

Glaukos Trading Up 2.7%

GKOS opened at $86.94 on Tuesday. The firm has a market cap of $4.99 billion, a price-to-earnings ratio of -52.69 and a beta of 0.78. Glaukos Corporation has a 52 week low of $77.10 and a 52 week high of $163.71. The business's 50 day moving average is $97.02 and its two-hundred day moving average is $104.86. The company has a quick ratio of 4.69, a current ratio of 5.51 and a debt-to-equity ratio of 0.09.

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 (EPS) for the quarter, beating analysts' consensus estimates of ($0.26) by $0.02. The business had revenue of $124.12 million for the quarter, compared to analyst estimates of $115.49 million. Glaukos had a negative return on equity of 8.59% and a negative net margin of 21.43%. The company's revenue for the quarter was up 29.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.52) earnings per share. On average, research analysts predict that Glaukos Corporation will post -1.08 EPS 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.

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