Quantinno Capital Management LP Raises Position in Glaukos Corporation $GKOS

Quantinno Capital Management LP raised its position in shares of Glaukos Corporation (NYSE:GKOS) by 964.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 30,836 shares of the medical instruments supplier’s stock after acquiring an additional 27,938 shares during the quarter. Quantinno Capital Management LP owned approximately 0.05% of Glaukos worth $3,320,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Janus Henderson Group PLC raised its position in shares of Glaukos by 183.4% in the 4th quarter. Janus Henderson Group PLC now owns 3,018,787 shares of the medical instruments supplier’s stock worth $340,855,000 after acquiring an additional 1,953,578 shares in the last quarter. Primecap Management Co. CA raised its holdings in Glaukos by 49.8% in the fourth quarter. Primecap Management Co. CA now owns 3,376,928 shares of the medical instruments supplier’s stock worth $381,289,000 after purchasing an additional 1,123,140 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Glaukos by 209.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,350,425 shares of the medical instruments supplier’s stock valued at $152,476,000 after buying an additional 913,458 shares during the period. Millennium Management LLC boosted its holdings in shares of Glaukos by 75.3% during the 4th quarter. Millennium Management LLC now owns 1,609,699 shares of the medical instruments supplier’s stock valued at $181,751,000 after buying an additional 691,289 shares in the last quarter. Finally, UBS Group AG boosted its holdings in shares of Glaukos by 316.0% during the 4th 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. Hedge funds and other institutional investors own 99.04% of the company’s stock.

Glaukos Price Performance

GKOS opened at $180.24 on Friday. The stock has a 50-day moving average price of $144.25 and a 200-day moving average price of $127.19. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.04 and a quick ratio of 4.46. The firm has a market cap of $10.63 billion, a PE ratio of -55.46 and a beta of 0.78. Glaukos Corporation has a 1 year low of $73.16 and a 1 year high of $184.00.

Glaukos (NYSE:GKOS) last announced its quarterly earnings data on Wednesday, July 29th. The medical instruments supplier reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.07. The company had revenue of $185.61 million for the quarter, compared to the consensus estimate of $150.93 million. Glaukos had a negative net margin of 30.68% and a negative return on equity of 6.37%. Glaukos’s revenue for the quarter was up 49.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.24) EPS. Sell-side analysts predict that Glaukos Corporation will post -0.35 earnings per share for the current fiscal year.

Insider Activity

In other Glaukos news, Director Leana Wen sold 525 shares of the stock in a transaction on Friday, July 31st. The stock was sold at an average price of $167.63, for a total transaction of $88,005.75. Following the sale, the director directly owned 21,092 shares in the company, valued at approximately $3,535,651.96. This trade represents a 2.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gilbert H. Kliman sold 5,000 shares of Glaukos stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $140.76, for a total value of $703,800.00. Following the completion of the sale, the director directly owned 35,528 shares of the company’s stock, valued at approximately $5,000,921.28. The trade was a 12.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 40,525 shares of company stock worth $6,116,806 over the last 90 days. 5.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GKOS. UBS Group initiated coverage on shares of Glaukos in a research note on Tuesday, July 28th. They issued a “neutral” rating and a $150.00 price target for the company. JPMorgan Chase & Co. boosted their price objective on shares of Glaukos from $120.00 to $140.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. HC Wainwright upped their price objective on shares of Glaukos from $168.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Citigroup raised their target price on shares of Glaukos from $175.00 to $188.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Finally, Stifel Nicolaus lifted their target price on shares of Glaukos from $175.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Twelve research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Glaukos presently has a consensus rating of “Moderate Buy” and an average price target of $177.33.

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.