Granite Investment Partners LLC Trims Stock Holdings in Glaukos Corporation $GKOS

Granite Investment Partners LLC decreased its holdings in shares of Glaukos Corporation (NYSE:GKOS) by 28.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 137,347 shares of the medical instruments supplier’s stock after selling 55,233 shares during the quarter. Granite Investment Partners LLC’s holdings in Glaukos were worth $11,201,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in GKOS. Norges Bank bought a new position in shares of Glaukos in the second quarter worth $76,314,000. Primecap Management Co. CA lifted its holdings in Glaukos by 50.0% during the 2nd quarter. Primecap Management Co. CA now owns 1,827,998 shares of the medical instruments supplier’s stock worth $188,814,000 after purchasing an additional 609,523 shares in the last quarter. AustralianSuper Pty Ltd bought a new position in Glaukos in the 2nd quarter worth about $41,946,000. Champlain Investment Partners LLC purchased a new position in Glaukos during the 2nd quarter valued at about $37,497,000. Finally, Holocene Advisors LP increased its position in shares of Glaukos by 40.1% during the second quarter. Holocene Advisors LP now owns 1,045,886 shares of the medical instruments supplier’s stock valued at $108,030,000 after buying an additional 299,118 shares during the period. Hedge funds and other institutional investors own 99.04% of the company’s stock.

Insider Buying and Selling

In other Glaukos news, CEO Thomas William Burns sold 186,945 shares of the business’s stock in a transaction on Friday, January 16th. The shares were sold at an average price of $115.00, for a total value of $21,498,675.00. Following the completion of the sale, the chief executive officer directly owned 153,775 shares of the company’s stock, valued at $17,684,125. The trade was a 54.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Joseph E. Gilliam sold 10,498 shares of the firm’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $127.68, for a total value of $1,340,384.64. Following the transaction, the chief operating officer directly owned 92,366 shares in the company, valued at $11,793,290.88. This trade represents a 10.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 310,315 shares of company stock worth $36,011,634 in the last ninety days. 6.40% of the stock is currently owned by insiders.

Glaukos Trading Up 2.8%

Shares of GKOS stock opened at $120.41 on Monday. The business has a 50-day moving average price of $115.30 and a two-hundred day moving average price of $99.01. Glaukos Corporation has a 12-month low of $73.16 and a 12-month high of $142.95. The company has a quick ratio of 4.06, a current ratio of 4.69 and a debt-to-equity ratio of 0.10. The firm has a market cap of $6.92 billion, a P/E ratio of -36.93 and a beta of 0.70.

Glaukos (NYSE:GKOS) last announced its quarterly earnings data on Tuesday, February 17th. The medical instruments supplier reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.06). The firm had revenue of $143.12 million for the quarter, compared to analysts’ expectations of $132.16 million. Glaukos had a negative net margin of 36.99% and a negative return on equity of 7.00%. The business’s quarterly revenue was up 35.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.40) earnings per share. Equities analysts anticipate that Glaukos Corporation will post -1.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Needham & Company LLC raised their price objective on shares of Glaukos from $125.00 to $127.00 and gave the company a “buy” rating in a research report on Wednesday. JPMorgan Chase & Co. increased their target price on shares of Glaukos from $110.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. William Blair raised shares of Glaukos to a “strong-buy” rating in a report on Friday, January 30th. Stephens upped their price target on shares of Glaukos from $115.00 to $145.00 and gave the stock an “overweight” rating in a report on Friday, January 2nd. Finally, Wall Street Zen downgraded Glaukos from a “buy” rating to a “hold” rating in a research report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Glaukos presently has a consensus rating of “Moderate Buy” and an average target price of $133.69.

Glaukos Company Profile

Glaukos Corporation is a medical technology company specializing in the development, manufacturing and commercialization of innovative therapies for patients with glaucoma and other chronic eye diseases. The company’s core offerings focus on micro-invasive glaucoma surgery (MIGS), designed to reduce intraocular pressure and manage glaucoma more safely and effectively than traditional surgical approaches. Glaukos’s flagship products include the iStent, iStent inject and iStent infinite trabecular micro-bypass stents, which are implanted during cataract surgery to improve aqueous outflow and help control eye pressure.

Beyond its MIGS portfolio, Glaukos has expanded into sustained drug-delivery solutions.