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William Blair Investment Management LLC Acquires 390,805 Shares of Glaukos Corporation $GKOS

Glaukos logo with Medical background

Key Points

  • William Blair Investment Management LLC increased its holdings in Glaukos Corporation by 52.4%, acquiring an additional 390,805 shares during the second quarter, bringing their total ownership to approximately 1.99% of the company.
  • Multiple hedge funds, including Alliancebernstein L.P. and Braidwell LP, have also increased their stakes in Glaukos, demonstrating strong institutional interest as they collectively own 99.04% of the company's stock.
  • Glaukos reported a revenue increase of 29.7% year-over-year and beat earnings expectations in its latest quarterly results, although it still posted a loss with an EPS of ($0.24).
  • Interested in Glaukos? Here are five stocks we like better.

William Blair Investment Management LLC increased its holdings in shares of Glaukos Corporation (NYSE:GKOS - Free Report) by 52.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,136,095 shares of the medical instruments supplier's stock after acquiring an additional 390,805 shares during the quarter. William Blair Investment Management LLC owned about 1.99% of Glaukos worth $117,347,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Alliancebernstein L.P. boosted its position in Glaukos by 56.5% during the first quarter. Alliancebernstein L.P. now owns 1,277,539 shares of the medical instruments supplier's stock worth $125,735,000 after purchasing an additional 461,386 shares during the period. Braidwell LP lifted its stake in shares of Glaukos by 116.2% during the 1st quarter. Braidwell LP now owns 624,435 shares of the medical instruments supplier's stock worth $61,457,000 after buying an additional 335,559 shares during the last quarter. Nuveen LLC bought a new stake in shares of Glaukos during the 1st quarter worth about $31,474,000. Eventide Asset Management LLC acquired a new position in Glaukos in the 1st quarter valued at about $28,636,000. Finally, Westfield Capital Management Co. LP raised 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 acquiring an additional 277,033 shares during the period. Institutional investors and hedge funds own 99.04% of the company's stock.

Glaukos Price Performance

Shares of NYSE GKOS opened at $87.49 on Friday. The stock has a market capitalization of $5.02 billion, a PE ratio of -53.02 and a beta of 0.76. 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 business has a fifty day moving average price of $87.74 and a two-hundred day moving average price of $92.22. Glaukos Corporation has a fifty-two week low of $77.10 and a fifty-two week high of $163.71.

Glaukos (NYSE:GKOS - Get Free Report) last released its earnings results on Wednesday, July 30th. The medical instruments supplier reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $124.12 million for the quarter, compared to analyst estimates of $115.49 million. During the same period in the prior year, the firm posted ($0.52) EPS. Glaukos's quarterly revenue was up 29.7% on a year-over-year basis. Glaukos has set its FY 2025 guidance at EPS. As a group, equities analysts predict that Glaukos Corporation will post -1.08 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

GKOS has been the subject of a number of research analyst reports. Truist Financial reduced their price objective on Glaukos from $126.00 to $120.00 and set a "buy" rating for the company in a report on Monday, September 22nd. Citigroup reduced their price target on Glaukos from $140.00 to $110.00 and set a "buy" rating for the company in a research note on Tuesday, October 7th. Wells Fargo & Company increased their price objective on Glaukos from $86.00 to $92.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 31st. The Goldman Sachs Group started coverage on shares of Glaukos in a research report on Wednesday, October 1st. They issued a "buy" rating and a $103.00 target price for the company. Finally, BTIG Research decreased their price target on shares of Glaukos from $118.00 to $104.00 and set a "buy" rating on the stock in a research note on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $116.92.

Check Out Our Latest Research Report on Glaukos

About Glaukos

(Free Report)

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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Institutional Ownership by Quarter for Glaukos (NYSE:GKOS)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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