Quantbot Technologies LP Acquires New Stake in Glaukos Corporation $GKOS

Key Points

• Quantbot Technologies LP purchased 7,628 shares of Glaukos Corporation for approximately $751,000 in the first quarter, adding to a trend of institutional investment in the company.
• A variety of equities analysts have recently adjusted their price targets for Glaukos, with Stephens lowering their price target from $140.00 to $115.00 while others like Wells Fargo increased their target from $86.00 to $92.00.
• Despite having a negative net margin of 21.43%, Glaukos reported a 29.7% increase in year-over-year revenue, reaching $124.12 million in its recent quarterly earnings.

Quantbot Technologies LP acquired a new stake in Glaukos Corporation (NYSE:GKOS - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 7,628 shares of the medical instruments supplier's stock, valued at approximately $751,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its position in Glaukos by 6.1% in the 1st quarter. Wellington Management Group LLP now owns 2,290,790 shares of the medical instruments supplier's stock valued at $225,460,000 after buying an additional 131,251 shares during the last quarter. Versor Investments LP boosted its position in Glaukos by 143.9% in the 1st quarter. Versor Investments LP now owns 13,272 shares of the medical instruments supplier's stock valued at $1,306,000 after buying an additional 7,830 shares during the last quarter. Raymond James Financial Inc. lifted its position in shares of Glaukos by 14.4% during the first quarter. Raymond James Financial Inc. now owns 128,966 shares of the medical instruments supplier's stock worth $12,694,000 after purchasing an additional 16,195 shares during the last quarter. Sei Investments Co. lifted its position in shares of Glaukos by 19.7% during the first quarter. Sei Investments Co. now owns 106,135 shares of the medical instruments supplier's stock worth $10,446,000 after purchasing an additional 17,445 shares during the last quarter. Finally, Sit Investment Associates Inc. lifted its position in shares of Glaukos by 4.9% during the first quarter. Sit Investment Associates Inc. now owns 17,640 shares of the medical instruments supplier's stock worth $1,736,000 after purchasing an additional 825 shares during the last quarter. 99.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GKOS has been the topic of several research analyst reports. UBS Group increased their price target on shares of Glaukos from $125.00 to $134.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Morgan Stanley reduced their price target on shares of Glaukos from $110.00 to $72.00 and set an "underweight" rating on the stock in a research report on Tuesday, May 6th. Mizuho set a $130.00 price target on shares of Glaukos in a research report on Thursday, July 31st. BTIG Research reaffirmed a "buy" rating on shares of Glaukos in a research report on Monday, July 14th. Finally, Stephens reduced their price target on shares of Glaukos from $140.00 to $115.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $127.42.

Glaukos Stock Performance

NYSE GKOS traded down $0.70 during trading hours on Friday, reaching $95.86. The company's stock had a trading volume of 488,453 shares, compared to its average volume of 846,228. The business has a 50-day simple moving average of $95.62 and a 200 day simple moving average of $99.17. 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 $5.50 billion, a PE ratio of -58.10 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.

Glaukos (NYSE:GKOS - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The medical instruments supplier reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.02. Glaukos had a negative net margin of 21.43% and a negative return on equity of 8.59%. The company had revenue of $124.12 million for the quarter, compared to analyst estimates of $115.49 million. During the same quarter last year, the business earned ($0.52) earnings per share. Glaukos's revenue was up 29.7% compared to the same quarter last year. Glaukos has set its FY 2025 guidance at EPS. Equities research analysts predict that Glaukos Corporation will post -1.08 earnings per share for the current fiscal year.

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.