Riverbridge Partners LLC Has $41.73 Million Holdings in Glaukos Corporation $GKOS

Key Points

• Riverbridge Partners LLC increased its holdings in Glaukos Corporation (GKOS) by 41.5%, owning 403,971 shares valued at approximately $41.73 million as of its latest SEC filing.
• Analysts have varied opinions on the stock, with UBS Group raising its price target from $125 to $134 while Zacks Research downgraded it from a "strong-buy" to a "hold", indicating mixed sentiment around Glaukos.
• The company's recent earnings report showed a 29.7% year-over-year revenue increase to $124.12 million, with an EPS of ($0.24), beating the analyst consensus estimate.

Riverbridge Partners LLC raised its holdings in shares of Glaukos Corporation (NYSE:GKOS - Free Report) by 41.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 403,971 shares of the medical instruments supplier's stock after purchasing an additional 118,509 shares during the period. Riverbridge Partners LLC owned 0.71% of Glaukos worth $41,726,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Bessemer Group Inc. lifted its position in Glaukos by 133.9% during the 1st quarter. Bessemer Group Inc. now owns 276 shares of the medical instruments supplier's stock valued at $27,000 after purchasing an additional 158 shares during the period. Nuveen LLC acquired a new stake in shares of Glaukos in the 1st quarter valued at approximately $31,474,000. Ehrlich Financial Group acquired a new stake in shares of Glaukos in the 2nd quarter valued at approximately $1,034,000. Royal Bank of Canada raised its position in shares of Glaukos by 103.2% in the 1st quarter. Royal Bank of Canada now owns 228,249 shares of the medical instruments supplier's stock valued at $22,464,000 after acquiring an additional 115,939 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Glaukos in the 1st quarter valued at approximately $307,000. 99.04% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GKOS has been the topic of a number of analyst reports. UBS Group increased their price target on shares of Glaukos from $125.00 to $134.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Zacks Research downgraded shares of Glaukos from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 15th. Truist Financial cut their price target on shares of Glaukos from $126.00 to $120.00 and set a "buy" rating on the stock in a research report on Monday. Wells Fargo & Company increased their price target on shares of Glaukos from $86.00 to $92.00 and gave the company an "equal weight" rating in a research report on Thursday, July 31st. Finally, William Blair upgraded shares of Glaukos to a "strong-buy" rating in a research report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $123.58.

Glaukos Stock Performance

Shares of GKOS stock opened at $82.81 on Thursday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.69 and a current ratio of 5.51. The company has a market capitalization of $4.75 billion, a P/E ratio of -50.19 and a beta of 0.77. The company's 50 day moving average price is $90.40 and its two-hundred day moving average price is $94.22. 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 announced its earnings results on Wednesday, July 30th. The medical instruments supplier reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.02. The firm had revenue of $124.12 million for the quarter, compared to the consensus estimate of $115.49 million. Glaukos had a negative net margin of 21.43% and a negative return on equity of 8.59%. The business's quarterly revenue was up 29.7% on a year-over-year basis. During the same period last year, the company posted ($0.52) EPS. Glaukos has set its FY 2025 guidance at EPS. On average, analysts expect 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.

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