Norges Bank Buys New Position in Glaukos Corporation $GKOS

Norges Bank bought a new stake in shares of Glaukos Corporation (NYSE:GKOS) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 536,143 shares of the medical instruments supplier’s stock, valued at approximately $60,536,000.

Several other large investors have also bought and sold shares of GKOS. UBS Group AG boosted its stake in Glaukos by 316.0% during the fourth quarter. UBS Group AG now owns 873,942 shares of the medical instruments supplier’s stock valued at $98,677,000 after buying an additional 663,849 shares in the last quarter. Alliancebernstein L.P. boosted its stake in Glaukos by 38.5% during the third quarter. Alliancebernstein L.P. now owns 1,733,474 shares of the medical instruments supplier’s stock valued at $141,365,000 after buying an additional 481,620 shares in the last quarter. Primecap Management Co. CA boosted its stake in Glaukos by 23.3% during the third quarter. Primecap Management Co. CA now owns 2,253,788 shares of the medical instruments supplier’s stock valued at $183,796,000 after buying an additional 425,790 shares in the last quarter. Wellington Management Group LLP boosted its stake in Glaukos by 10.4% during the third quarter. Wellington Management Group LLP now owns 3,580,670 shares of the medical instruments supplier’s stock valued at $292,004,000 after buying an additional 336,266 shares in the last quarter. Finally, Capital International Investors boosted its stake in Glaukos by 107.5% during the third quarter. Capital International Investors now owns 511,510 shares of the medical instruments supplier’s stock valued at $41,714,000 after buying an additional 264,971 shares in the last quarter. Institutional investors own 99.04% of the company’s stock.

Insiders Place Their Bets

In other Glaukos news, Director Gilbert H. Kliman sold 5,000 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $140.76, for a total transaction of $703,800.00. Following the completion of the sale, the director directly owned 35,528 shares in the company, valued at approximately $5,000,921.28. This trade represents a 12.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Alex R. Thurman sold 10,000 shares of the firm’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $140.00, for a total value of $1,400,000.00. Following the sale, the chief financial officer owned 43,681 shares of the company’s stock, valued at $6,115,340. The trade was a 18.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 45,930 shares of company stock valued at $6,321,363. 5.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Wall Street Zen lowered Glaukos from a “buy” rating to a “hold” rating in a research report on Saturday, May 30th. Citigroup increased their price target on Glaukos from $135.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. William Blair reiterated an “outperform” rating on shares of Glaukos in a research report on Tuesday, May 26th. BTIG Research increased their price target on Glaukos from $141.00 to $162.00 and gave the company a “buy” rating in a research report on Thursday, May 21st. Finally, Needham & Company LLC increased their price target on Glaukos from $127.00 to $136.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Twelve research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $146.17.

Glaukos Trading Down 0.2%

NYSE:GKOS opened at $124.79 on Monday. The company has a quick ratio of 4.73, a current ratio of 5.43 and a debt-to-equity ratio of 0.10. Glaukos Corporation has a 1-year low of $73.16 and a 1-year high of $148.11. The firm has a market capitalization of $7.33 billion, a price-to-earnings ratio of -38.05 and a beta of 0.83. The stock has a fifty day simple moving average of $122.29 and a 200 day simple moving average of $115.31.

Glaukos (NYSE:GKOS) last announced its quarterly earnings data on Wednesday, April 29th. The medical instruments supplier reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.12. Glaukos had a negative return on equity of 6.92% and a negative net margin of 34.34%.The firm had revenue of $150.57 million during the quarter, compared to analyst estimates of $137.00 million. During the same period last year, the company posted ($0.22) EPS. The business’s quarterly revenue was up 41.2% compared to the same quarter last year. Sell-side analysts forecast that Glaukos Corporation will post -0.57 earnings per share for the current year.

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.