State of Alaska Department of Revenue Raises Stock Holdings in Glaukos Corporation $GKOS

Key Points

• The State of Alaska Department of Revenue increased its stake in Glaukos Corporation by 11.4%, acquiring an additional 3,470 shares, bringing its total to 34,021 shares valued at approximately $3.5 million.
• Glaukos reported a 29.7% year-over-year increase in revenue for the last quarter, totaling $124.12 million, while topping earnings estimates with an EPS of ($0.24).
• Analysts maintain a Moderate Buy consensus rating for Glaukos, with an average price target of $123.58, despite one downgrade from Zacks Research from "strong-buy" to "hold."

State of Alaska Department of Revenue lifted its holdings in shares of Glaukos Corporation (NYSE:GKOS - Free Report) by 11.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,021 shares of the medical instruments supplier's stock after acquiring an additional 3,470 shares during the quarter. State of Alaska Department of Revenue owned 0.06% of Glaukos worth $3,513,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Valeo Financial Advisors LLC increased its position in shares of Glaukos by 1.5% during the first quarter. Valeo Financial Advisors LLC now owns 7,817 shares of the medical instruments supplier's stock valued at $769,000 after acquiring an additional 117 shares during the last quarter. LVW Advisors LLC increased its position in shares of Glaukos by 5.9% during the first quarter. LVW Advisors LLC now owns 2,408 shares of the medical instruments supplier's stock valued at $237,000 after acquiring an additional 135 shares during the last quarter. Bessemer Group Inc. increased its position in shares of Glaukos by 133.9% during the first quarter. Bessemer Group Inc. now owns 276 shares of the medical instruments supplier's stock valued at $27,000 after acquiring an additional 158 shares during the last quarter. First Horizon Advisors Inc. increased its position in shares of Glaukos by 72.9% during the first quarter. First Horizon Advisors Inc. now owns 377 shares of the medical instruments supplier's stock valued at $37,000 after acquiring an additional 159 shares during the last quarter. Finally, Harbor Capital Advisors Inc. increased its position in shares of Glaukos by 0.4% during the second quarter. Harbor Capital Advisors Inc. now owns 39,305 shares of the medical instruments supplier's stock valued at $4,060,000 after acquiring an additional 173 shares during the last quarter. 99.04% of the stock is owned by hedge funds and other institutional investors.

Glaukos Price Performance

Glaukos stock opened at $81.67 on Wednesday. Glaukos Corporation has a one year low of $77.10 and a one year high of $163.71. The business has a fifty day moving average price of $89.09 and a 200-day moving average price of $93.68. The company has a debt-to-equity ratio of 0.09, a current ratio of 5.51 and a quick ratio of 4.69. The firm has a market capitalization of $4.68 billion, a P/E ratio of -49.50 and a beta of 0.77.

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

Wall Street Analyst Weigh In

A number of analysts recently commented on GKOS shares. Zacks Research downgraded Glaukos from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 15th. BTIG Research reissued a "buy" rating and issued a $118.00 target price on shares of Glaukos in a research report on Wednesday, September 10th. William Blair raised Glaukos to a "strong-buy" rating in a research report on Thursday, July 31st. Truist Financial decreased their target price on Glaukos from $126.00 to $120.00 and set a "buy" rating for the company in a research report on Monday, September 22nd. 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 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 given a Sell rating to the company. According to data from MarketBeat.com, Glaukos presently has a consensus rating of "Moderate Buy" and an average price target of $123.58.

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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