JPMorgan Chase & Co. Purchases 27,646 Shares of Glaukos Corporation $GKOS

JPMorgan Chase & Co. grew its position in Glaukos Corporation (NYSE:GKOS) by 4.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 670,083 shares of the medical instruments supplier’s stock after purchasing an additional 27,646 shares during the period. JPMorgan Chase & Co.’s holdings in Glaukos were worth $54,645,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Norges Bank bought a new position in Glaukos in the second quarter valued at about $76,314,000. Primecap Management Co. CA lifted its position 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 valued at $188,814,000 after purchasing an additional 609,523 shares during the period. Champlain Investment Partners LLC bought a new position in shares of Glaukos in the 2nd quarter valued at about $37,497,000. Holocene Advisors LP grew its position in shares of Glaukos by 40.1% during the 2nd quarter. Holocene Advisors LP now owns 1,045,886 shares of the medical instruments supplier’s stock worth $108,030,000 after buying an additional 299,118 shares during the period. Finally, Granite Investment Partners LLC grew its position in shares of Glaukos by 1,189.7% during the 2nd quarter. Granite Investment Partners LLC now owns 192,580 shares of the medical instruments supplier’s stock worth $19,892,000 after buying an additional 177,648 shares during the period. Institutional investors and hedge funds own 99.04% of the company’s stock.

Glaukos Stock Up 1.7%

NYSE:GKOS opened at $121.25 on Thursday. Glaukos Corporation has a 1 year low of $73.16 and a 1 year high of $130.23. The stock has a 50-day moving average price of $115.75 and a two-hundred day moving average price of $99.63. The stock has a market cap of $7.04 billion, a price-to-earnings ratio of -37.19 and a beta of 0.70. The company has a current ratio of 4.69, a quick ratio of 4.06 and a debt-to-equity ratio of 0.10.

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

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. The Goldman Sachs Group restated a “buy” rating and issued a $138.00 price objective on shares of Glaukos in a report on Friday, January 9th. Piper Sandler reissued an “overweight” rating and issued a $165.00 price target on shares of Glaukos in a research note on Wednesday, January 14th. William Blair upgraded Glaukos to a “strong-buy” rating in a report on Friday, January 30th. Needham & Company LLC increased their target price on Glaukos from $125.00 to $127.00 and gave the company a “buy” rating in a research note on Wednesday, February 18th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Glaukos in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $133.69.

Insider Buying and Selling

In other news, COO Joseph E. Gilliam sold 10,498 shares of the stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $127.68, for a total transaction of $1,340,384.64. Following the completion of the sale, the chief operating officer owned 92,366 shares of the company’s stock, valued at $11,793,290.88. This represents a 10.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Thomas William Burns sold 186,945 shares of the firm’s stock in a transaction on Friday, January 16th. The stock was sold at an average price of $115.00, for a total transaction of $21,498,675.00. Following the sale, the chief executive officer owned 153,775 shares in the company, valued at approximately $17,684,125. The trade was a 54.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 325,000 shares of company stock valued at $37,739,259. 5.80% of the stock is owned by corporate insiders.

About Glaukos

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.