RA Capital Management L.P. Invests $18.73 Million in Glaukos Corporation $GKOS

Key Points

• RA Capital Management L.P. purchased 190,256 shares of Glaukos Corporation, valued at approximately $18.7 million, increasing its stake to 0.33% according to its latest SEC filing.
• Various institutional investors significantly increased their stakes in Glaukos, with notable increases including Bessemer Group Inc. (133.9%) and Whipplewood Advisors LLC (3,957.1%).
• Glaukos reported quarterly earnings of ($0.24) EPS, surpassing expectations, and had a revenue of $124.12 million, which was above analysts' forecasts, showing a year-over-year revenue growth of 29.7%.

RA Capital Management L.P. purchased a new position in shares of Glaukos Corporation (NYSE:GKOS - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 190,256 shares of the medical instruments supplier's stock, valued at approximately $18,725,000. RA Capital Management L.P. owned about 0.33% of Glaukos as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP raised its stake in shares of Glaukos by 6.1% during the 1st quarter. Wellington Management Group LLP now owns 2,290,790 shares of the medical instruments supplier's stock worth $225,460,000 after buying an additional 131,251 shares during the last quarter. Primecap Management Co. CA raised its stake in Glaukos by 0.3% in the 1st quarter. Primecap Management Co. CA now owns 1,218,475 shares of the medical instruments supplier's stock valued at $119,922,000 after purchasing an additional 4,150 shares during the last quarter. Westfield Capital Management Co. LP raised its stake in Glaukos by 34.3% in the 1st quarter. Westfield Capital Management Co. LP now owns 1,084,184 shares of the medical instruments supplier's stock valued at $106,705,000 after purchasing an additional 277,033 shares during the last quarter. Driehaus Capital Management LLC raised its stake in Glaukos by 18.7% in the 1st quarter. Driehaus Capital Management LLC now owns 973,625 shares of the medical instruments supplier's stock valued at $95,824,000 after purchasing an additional 153,502 shares during the last quarter. Finally, Braidwell LP raised its stake in Glaukos by 116.2% in the 1st quarter. Braidwell LP now owns 624,435 shares of the medical instruments supplier's stock valued at $61,457,000 after purchasing an additional 335,559 shares during the last quarter. Institutional investors and hedge funds own 99.04% of the company's stock.

Glaukos Trading Up 4.0%

GKOS traded up $3.59 during midday trading on Friday, hitting $93.73. The company's stock had a trading volume of 758,743 shares, compared to its average volume of 668,875. 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 firm has a market cap of $5.38 billion, a P/E ratio of -56.81 and a beta of 0.77. The firm has a 50-day moving average price of $95.00 and a two-hundred day moving average price of $97.54. Glaukos Corporation has a 52-week low of $77.10 and a 52-week high of $163.71.

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, beating the consensus estimate of ($0.26) by $0.02. The company had revenue of $124.12 million during the quarter, compared to analysts' expectations of $115.49 million. Glaukos had a negative return on equity of 8.59% and a negative net margin of 21.43%.The firm's revenue was up 29.7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.52) EPS. Glaukos has set its FY 2025 guidance at EPS. On average, research analysts anticipate that Glaukos Corporation will post -1.08 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Wells Fargo & Company boosted their target price on shares of Glaukos from $86.00 to $92.00 and gave the company an "equal weight" rating in a research note on Thursday, July 31st. Mizuho set a $130.00 target price on shares of Glaukos in a research note on Thursday, July 31st. UBS Group boosted their target price on shares of Glaukos from $125.00 to $134.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. William Blair raised shares of Glaukos to a "strong-buy" rating in a research note on Thursday, July 31st. Finally, Zacks Research cut Glaukos from a "strong-buy" rating to a "hold" rating in a report on Friday, August 15th. One research 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 issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $127.42.

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.