Thornburg Investment Management Inc. Purchases 4,847 Shares of Glaukos Corporation (NYSE:GKOS)

Key Points

• Thornburg Investment Management Inc. increased its stake in Glaukos Corporation by 10.6% during Q1, owning 50,430 shares valued at approximately $4.96 million as of its latest SEC filing.
• Glaukos reported a quarterly revenue increase of 24.6% year-over-year, with earnings per share of ($0.22), beating analyst estimates by $0.11.
• Analysts have set a range of price targets for Glaukos, with recent adjustments from Morgan Stanley and Wells Fargo indicating a more cautious outlook, reflecting a shift from "overweight" ratings to lower target prices.

Thornburg Investment Management Inc. increased its holdings in shares of Glaukos Corporation (NYSE:GKOS - Free Report) by 10.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,430 shares of the medical instruments supplier's stock after buying an additional 4,847 shares during the quarter. Thornburg Investment Management Inc. owned 0.09% of Glaukos worth $4,963,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Bessemer Group Inc. boosted its position in shares of Glaukos by 133.9% in 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 period. Whipplewood Advisors LLC increased its holdings in Glaukos by 3,957.1% in the 1st quarter. Whipplewood Advisors LLC now owns 284 shares of the medical instruments supplier's stock valued at $28,000 after buying an additional 277 shares during the period. First Horizon Advisors Inc. increased its stake in Glaukos by 72.9% in 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 period. Versant Capital Management Inc lifted its stake in Glaukos by 583.9% during the first quarter. Versant Capital Management Inc now owns 383 shares of the medical instruments supplier's stock worth $38,000 after purchasing an additional 327 shares during the period. Finally, CoreCap Advisors LLC grew its stake in shares of Glaukos by 36.4% in the 4th quarter. CoreCap Advisors LLC now owns 750 shares of the medical instruments supplier's stock valued at $112,000 after purchasing an additional 200 shares during the period. 99.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on GKOS shares. Piper Sandler dropped their target price on shares of Glaukos from $180.00 to $165.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. Stephens dropped their price target on Glaukos from $140.00 to $115.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. Stifel Nicolaus decreased their price target on shares of Glaukos from $140.00 to $115.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Needham & Company LLC decreased their target price on Glaukos from $176.00 to $115.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Finally, Wells Fargo & Company raised their price target on Glaukos from $86.00 to $92.00 and gave the stock an "equal weight" rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $127.42.

Glaukos Stock Up 0.3%

Shares of Glaukos stock traded up $0.30 during trading on Friday, hitting $86.39. The company's stock had a trading volume of 1,508,236 shares, compared to its average volume of 959,691. Glaukos Corporation has a 52 week low of $77.10 and a 52 week high of $163.71. The company has a market capitalization of $4.94 billion, a PE ratio of -52.36 and a beta of 0.82. The company has a fifty day simple moving average of $98.19 and a two-hundred day simple moving average of $108.93. The company has a debt-to-equity ratio of 0.09, a quick ratio of 5.62 and a current ratio of 6.49.

Glaukos (NYSE:GKOS - Get Free Report) last announced its earnings results on Wednesday, July 30th. The medical instruments supplier reported ($0.24) earnings per share for the quarter, beating analysts' consensus estimates of ($0.26) by $0.02. Glaukos had a negative net margin of 21.43% and a negative return on equity of 8.68%. The business had revenue of $124.12 million during the quarter, compared to the consensus estimate of $115.49 million. During the same quarter last year, the firm earned ($0.52) earnings per share. The business's revenue for the quarter was up 29.7% on a year-over-year basis. Equities research analysts predict that Glaukos Corporation will post -1.08 earnings per share for the current year.

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.