Primecap Management Co. CA Grows Stake in Glaukos Corporation $GKOS

Primecap Management Co. CA increased its position in shares of Glaukos Corporation (NYSE:GKOS) by 23.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,253,788 shares of the medical instruments supplier’s stock after buying an additional 425,790 shares during the period. Primecap Management Co. CA owned about 3.92% of Glaukos worth $183,796,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Glaukos in the 2nd quarter valued at about $76,314,000. Champlain Investment Partners LLC purchased a new position in Glaukos during the second quarter valued at approximately $37,497,000. Holocene Advisors LP raised its stake in Glaukos by 40.1% in the second 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 in the last quarter. Granite Investment Partners LLC raised its stake in Glaukos by 1,189.7% in the second 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 in the last quarter. Finally, Riverbridge Partners LLC lifted its holdings in Glaukos by 41.0% during the third quarter. Riverbridge Partners LLC now owns 569,644 shares of the medical instruments supplier’s stock worth $46,454,000 after buying an additional 165,673 shares during the period. Hedge funds and other institutional investors own 99.04% of the company’s stock.

Glaukos Trading Up 0.6%

Shares of GKOS stock opened at $121.62 on Friday. Glaukos Corporation has a fifty-two week low of $73.16 and a fifty-two week high of $130.23. The stock has a market capitalization of $7.06 billion, a P/E ratio of -37.31 and a beta of 0.70. The stock has a 50-day simple moving average of $115.92 and a 200 day simple moving average of $99.78. The company has a quick ratio of 4.06, a current ratio of 4.69 and a debt-to-equity ratio of 0.10.

Glaukos (NYSE:GKOS) last announced its earnings results on Tuesday, February 17th. The medical instruments supplier reported ($0.28) EPS 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 company had revenue of $143.12 million for the quarter, compared to analysts’ expectations of $132.16 million. During the same period in the prior year, the company earned ($0.40) earnings per share. The company’s revenue for the quarter was up 35.6% on a year-over-year basis. On average, sell-side analysts expect that Glaukos Corporation will post -1.08 earnings per share for the current fiscal year.

Insider Transactions at Glaukos

In related news, Director Gilbert H. Kliman sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $107.27, for a total value of $536,350.00. Following the completion of the sale, the director owned 34,905 shares of the company’s stock, valued at approximately $3,744,259.35. The trade was a 12.53% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Marc Stapley sold 15,000 shares of the firm’s stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $127.71, for a total transaction of $1,915,650.00. Following the transaction, the director owned 37,449 shares in the company, valued at $4,782,611.79. This represents a 28.60% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 325,000 shares of company stock worth $37,739,259. 5.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on GKOS shares. Needham & Company LLC upped their price objective on Glaukos from $125.00 to $127.00 and gave the stock a “buy” rating in a research note on Wednesday, February 18th. William Blair upgraded shares of Glaukos to a “strong-buy” rating in a report on Friday, January 30th. BTIG Research restated a “buy” rating and issued a $131.00 price target on shares of Glaukos in a report on Wednesday, February 18th. Citigroup lifted their price objective on shares of Glaukos from $113.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Finally, Wells Fargo & Company increased their target price on shares of Glaukos from $122.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, February 18th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $133.69.

Glaukos 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.