SG Americas Securities LLC Has $1.23 Million Position in Glaukos Corporation $GKOS

Key Points

• SG Americas Securities LLC sharply reduced its Glaukos stake, cutting holdings by 81% in the first quarter and ending with 11,446 shares worth about $1.23 million.
• Several analysts remain bullish on Glaukos, with recent ratings including buy or outperform and price targets ranging from $162 to $170; the consensus rating is Moderate Buy.
• Glaukos reported better-than-expected quarterly results, posting an EPS loss of $0.18 versus the expected $0.30 loss and revenue of $150.57 million, up 41.2% year over year.

SG Americas Securities LLC cut its position in shares of Glaukos Corporation (NYSE:GKOS - Free Report) by 81.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,446 shares of the medical instruments supplier's stock after selling 48,786 shares during the quarter. SG Americas Securities LLC's holdings in Glaukos were worth $1,232,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. First Horizon Corp lifted its stake in Glaukos by 1,715.4% in the 4th quarter. First Horizon Corp now owns 236 shares of the medical instruments supplier's stock valued at $27,000 after acquiring an additional 223 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Glaukos during the 4th quarter worth approximately $28,000. Larson Financial Group LLC grew its stake in shares of Glaukos by 62.0% during the 4th quarter. Larson Financial Group LLC now owns 345 shares of the medical instruments supplier's stock worth $39,000 after acquiring an additional 132 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Glaukos by 111.4% in the fourth quarter. Farther Finance Advisors LLC now owns 408 shares of the medical instruments supplier's stock valued at $46,000 after purchasing an additional 215 shares during the last quarter. Finally, Salomon & Ludwin LLC raised its holdings in shares of Glaukos by 111.2% in the fourth quarter. Salomon & Ludwin LLC now owns 454 shares of the medical instruments supplier's stock valued at $51,000 after purchasing an additional 239 shares during the last quarter. Institutional investors and hedge funds own 99.04% of the company's stock.

Insider Activity

In other Glaukos news, Director Gilbert H. Kliman sold 5,000 shares of the stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $140.76, for a total value of $703,800.00. Following the completion of the sale, the director owned 35,528 shares in the company, valued at $5,000,921.28. This trade represents a 12.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Joseph E. Gilliam sold 19,573 shares of Glaukos stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $143.54, for a total transaction of $2,809,508.42. Following the completion of the transaction, the chief operating officer directly owned 73,419 shares of the company's stock, valued at approximately $10,538,563.26. This trade represents a 21.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 41,273 shares of company stock valued at $5,832,003 in the last ninety days. Corporate insiders own 5.90% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on GKOS shares. Piper Sandler reissued an "overweight" rating and issued a $165.00 price objective on shares of Glaukos in a research report on Wednesday. William Blair reaffirmed an "outperform" rating on shares of Glaukos in a research report on Tuesday, May 26th. Wall Street Zen upgraded shares of Glaukos from a "hold" rating to a "buy" rating in a research note on Saturday. BTIG Research reissued a "buy" rating and set a $162.00 price target on shares of Glaukos in a research report on Wednesday, June 10th. Finally, Stifel Nicolaus set a $170.00 price target on shares of Glaukos in a research report on Thursday, April 30th. Twelve research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $149.17.

Glaukos Stock Down 0.6%

NYSE:GKOS opened at $147.49 on Friday. The firm has a market capitalization of $8.66 billion, a price-to-earnings ratio of -44.97 and a beta of 0.75. Glaukos Corporation has a twelve month low of $73.16 and a twelve month high of $148.62. The stock's 50 day moving average price is $129.31 and its two-hundred day moving average price is $119.35. The company has a quick ratio of 4.73, a current ratio of 5.43 and a debt-to-equity ratio of 0.10.

Glaukos (NYSE:GKOS - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The medical instruments supplier reported ($0.18) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.30) by $0.12. The company had revenue of $150.57 million for the quarter, compared to analysts' expectations of $137.00 million. Glaukos had a negative return on equity of 6.92% and a negative net margin of 34.34%.The business's revenue was up 41.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.22) EPS. Equities research analysts expect that Glaukos Corporation will post -0.57 earnings per share for the current fiscal year.

Glaukos Profile

Glaukos Corporation is a medical technology company specializing in the development, manufacturing and commercialization of innovative therapies for patients with glaucoma and other chronic eye diseases. The company's core offerings focus on micro-invasive glaucoma surgery (MIGS), designed to reduce intraocular pressure and manage glaucoma more safely and effectively than traditional surgical approaches. Glaukos's flagship products include the iStent, iStent inject and iStent infinite trabecular micro-bypass stents, which are implanted during cataract surgery to improve aqueous outflow and help control eye pressure.

Beyond its MIGS portfolio, Glaukos has expanded into sustained drug-delivery solutions.

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