Rhenman & Partners Asset Management AB Lowers Position in Glaukos Corporation $GKOS

Rhenman & Partners Asset Management AB cut its position in shares of Glaukos Corporation (NYSE:GKOS) by 2.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 230,000 shares of the medical instruments supplier’s stock after selling 5,000 shares during the quarter. Glaukos comprises 2.1% of Rhenman & Partners Asset Management AB’s investment portfolio, making the stock its 17th biggest holding. Rhenman & Partners Asset Management AB’s holdings in Glaukos were worth $18,756,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. UMB Bank n.a. lifted its position in Glaukos by 102.6% during the third quarter. UMB Bank n.a. now owns 312 shares of the medical instruments supplier’s stock valued at $25,000 after buying an additional 158 shares during the period. REAP Financial Group LLC bought a new position in shares of Glaukos in the 3rd quarter worth about $40,000. SBI Securities Co. Ltd. lifted its position in Glaukos by 42.9% during the 3rd quarter. SBI Securities Co. Ltd. now owns 1,205 shares of the medical instruments supplier’s stock valued at $98,000 after acquiring an additional 362 shares during the period. Smartleaf Asset Management LLC lifted its position in Glaukos by 16.2% during the 2nd quarter. Smartleaf Asset Management LLC now owns 973 shares of the medical instruments supplier’s stock valued at $99,000 after acquiring an additional 136 shares during the period. Finally, Parkside Financial Bank & Trust boosted its stake in Glaukos by 909.7% during the second quarter. Parkside Financial Bank & Trust now owns 1,252 shares of the medical instruments supplier’s stock worth $129,000 after acquiring an additional 1,128 shares in the last quarter. Institutional investors own 99.04% of the company’s stock.

Glaukos Trading Down 3.6%

Shares of NYSE GKOS opened at $108.01 on Friday. The firm’s 50 day moving average price is $115.83 and its 200-day moving average price is $100.93. Glaukos Corporation has a 52-week low of $73.16 and a 52-week high of $130.23. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.06 and a current ratio of 4.69. The company has a market cap of $6.27 billion, a PE ratio of -33.13 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 during the quarter, compared to analysts’ expectations of $132.16 million. Glaukos had a negative return on equity of 7.00% and a negative net margin of 36.99%.Glaukos’s revenue was up 35.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.40) earnings per share. On average, equities research analysts expect that Glaukos Corporation will post -1.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GKOS. Truist Financial raised their target price on shares of Glaukos from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, December 18th. Stephens boosted their price target on Glaukos from $115.00 to $145.00 and gave the stock an “overweight” rating in a research report on Friday, January 2nd. Piper Sandler restated an “overweight” rating and issued a $165.00 price target on shares of Glaukos in a research note on Wednesday, January 14th. UBS Group raised their price objective on Glaukos from $140.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, December 23rd. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $138.00 target price on shares of Glaukos in a report on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $133.69.

Insiders Place Their Bets

In other news, Director Marc Stapley sold 15,000 shares of the business’s stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $127.71, for a total value of $1,915,650.00. Following the completion of the transaction, the director owned 37,449 shares in the company, valued at $4,782,611.79. The trade was a 28.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gilbert H. Kliman sold 5,000 shares of the company’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $107.27, for a total value of $536,350.00. Following the transaction, the director directly owned 34,905 shares in the company, valued at approximately $3,744,259.35. The trade was a 12.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 325,000 shares of company stock worth $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.