Truist Financial Corp Has $754,000 Holdings in Glaukos Corporation $GKOS

Key Points

• Truist Financial Corp increased its holdings in Glaukos Corporation by 138.9% in the 2nd quarter, now owning 7,296 shares valued at $754,000.
• Glaukos recently reported a quarterly earnings per share (EPS) of ($0.24), exceeding analysts' expectations, with a revenue increase of 29.7% year-over-year.
• Major institutional investors, including Royal Bank of Canada and Bessemer Group, also expanded their stakes, indicating strong institutional confidence in Glaukos, which is now 99.04% owned by institutional investors.

Truist Financial Corp lifted its holdings in Glaukos Corporation (NYSE:GKOS - Free Report) by 138.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,296 shares of the medical instruments supplier's stock after acquiring an additional 4,242 shares during the period. Truist Financial Corp's holdings in Glaukos were worth $754,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Bessemer Group Inc. grew its stake 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 in the last quarter. Nuveen LLC acquired a new position in shares of Glaukos in the first quarter valued at about $31,474,000. Ehrlich Financial Group acquired a new stake in Glaukos during the second quarter worth about $1,034,000. Royal Bank of Canada grew its stake in Glaukos by 103.2% during the first quarter. Royal Bank of Canada now owns 228,249 shares of the medical instruments supplier's stock worth $22,464,000 after buying an additional 115,939 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Glaukos during the first quarter worth about $307,000. 99.04% of the stock is currently owned by institutional investors and hedge funds.

Glaukos Stock Up 2.7%

Shares of NYSE GKOS opened at $85.29 on Wednesday. The company has a 50 day simple moving average of $87.81 and a 200 day simple moving average of $92.43. The firm has a market cap of $4.89 billion, a PE ratio of -51.69 and a beta of 0.76. Glaukos Corporation has a 1 year low of $77.10 and a 1 year high of $163.71. The company has a debt-to-equity ratio of 0.09, a current ratio of 5.51 and a quick ratio of 4.69.

Glaukos (NYSE:GKOS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The medical instruments supplier reported ($0.24) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.26) by $0.02. The business had revenue of $124.12 million during the quarter, compared to analyst estimates of $115.49 million. Glaukos had a negative net margin of 21.43% and a negative return on equity of 8.59%. The firm's quarterly revenue was up 29.7% on a year-over-year basis. During the same quarter last year, the business earned ($0.52) EPS. Glaukos has set its FY 2025 guidance at EPS. On average, research analysts forecast that Glaukos Corporation will post -1.08 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on GKOS shares. Wells Fargo & Company increased their price objective on shares of Glaukos from $86.00 to $92.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. Mizuho set a $130.00 price objective on shares of Glaukos in a research note on Thursday, July 31st. Zacks Research downgraded shares of Glaukos from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 15th. The Goldman Sachs Group started coverage on shares of Glaukos in a research note on Wednesday, October 1st. They set a "buy" rating and a $103.00 price objective on the stock. Finally, Truist Financial reduced their price objective on shares of Glaukos from $126.00 to $120.00 and set a "buy" rating on the stock in a research note on Monday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $116.92.

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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