Taylor Frigon Capital Management LLC Boosts Holdings in Glaukos Corporation $GKOS

Key Points

• Taylor Frigon Capital Management LLC increased its holdings in Glaukos Corporation by 39.4% in the second quarter, bringing its total to 31,204 shares, which represents 1.7% of their investment portfolio.
• Analysts generally maintain a positive outlook on Glaukos, with a consensus price target of $123.58 and ratings ranging from "Strong Buy" to "Hold."
• Glaukos reported a revenue increase of 29.7% year-over-year, with earnings per share beating estimates at ($0.24) compared to the consensus of ($0.26).

Taylor Frigon Capital Management LLC lifted its holdings in Glaukos Corporation (NYSE:GKOS - Free Report) by 39.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 31,204 shares of the medical instruments supplier's stock after acquiring an additional 8,819 shares during the period. Glaukos makes up approximately 1.7% of Taylor Frigon Capital Management LLC's investment portfolio, making the stock its 5th largest position. Taylor Frigon Capital Management LLC owned about 0.05% of Glaukos worth $3,223,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Alliancebernstein L.P. lifted its position in shares of Glaukos by 56.5% during the 1st quarter. Alliancebernstein L.P. now owns 1,277,539 shares of the medical instruments supplier's stock valued at $125,735,000 after acquiring an additional 461,386 shares during the period. Braidwell LP raised its stake in Glaukos by 116.2% in the first 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 in the last quarter. Nuveen LLC bought a new stake in Glaukos during the first quarter worth about $31,474,000. Eventide Asset Management LLC acquired a new stake in Glaukos during the first quarter worth about $28,636,000. Finally, Westfield Capital Management Co. LP increased its holdings 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 buying an additional 277,033 shares during the period. Institutional investors and hedge funds own 99.04% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on GKOS shares. Mizuho set a $130.00 price target on shares of Glaukos in a research report on Thursday, July 31st. BTIG Research reiterated a "buy" rating and issued a $118.00 price target on shares of Glaukos in a research note on Wednesday, September 10th. Wells Fargo & Company boosted their price target on Glaukos from $86.00 to $92.00 and gave the stock an "equal weight" rating in a report on Thursday, July 31st. Truist Financial reduced their price objective on Glaukos from $126.00 to $120.00 and set a "buy" rating on the stock in a research note on Monday, September 22nd. Finally, William Blair upgraded Glaukos to a "strong-buy" rating in a research report on Thursday, July 31st. One research 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 assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $123.58.

Glaukos Trading Down 1.9%

NYSE GKOS opened at $79.95 on Monday. Glaukos Corporation has a 12 month low of $77.10 and a 12 month high of $163.71. 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 capitalization of $4.59 billion, a PE ratio of -48.45 and a beta of 0.77. The business's 50-day moving average price is $89.69 and its two-hundred day moving average price is $93.91.

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, beating the consensus estimate of ($0.26) by $0.02. The business had revenue of $124.12 million for 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 period in the prior year, the business posted ($0.52) earnings per share. Glaukos has set its FY 2025 guidance at EPS. On average, analysts expect that Glaukos Corporation will post -1.08 EPS for the current year.

Glaukos Company 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.

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