Sanctuary Advisors LLC Acquires New Stake in Glaukos Corporation $GKOS

Sanctuary Advisors LLC acquired a new stake in shares of Glaukos Corporation (NYSE:GKOS) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,778 shares of the medical instruments supplier’s stock, valued at approximately $668,000.

Several other hedge funds have also recently made changes to their positions in the company. Wealth Alliance LLC raised its stake in shares of Glaukos by 4.5% in the first quarter. Wealth Alliance LLC now owns 2,297 shares of the medical instruments supplier’s stock valued at $247,000 after buying an additional 98 shares during the period. Smartleaf Asset Management LLC grew its stake in shares of Glaukos by 9.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,383 shares of the medical instruments supplier’s stock worth $158,000 after acquiring an additional 122 shares during the period. Larson Financial Group LLC increased its holdings in Glaukos by 62.0% in the 4th quarter. Larson Financial Group LLC now owns 345 shares of the medical instruments supplier’s stock worth $39,000 after acquiring an additional 132 shares during the last quarter. CWM LLC increased its holdings in Glaukos by 25.2% in the 4th quarter. CWM LLC now owns 710 shares of the medical instruments supplier’s stock worth $80,000 after acquiring an additional 143 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its stake in Glaukos by 1.7% in the 4th quarter. Commonwealth Equity Services LLC now owns 8,383 shares of the medical instruments supplier’s stock valued at $947,000 after acquiring an additional 144 shares during the period. 99.04% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. UBS Group initiated coverage on shares of Glaukos in a report on Tuesday, July 28th. They set a “neutral” rating and a $150.00 price objective on the stock. BTIG Research lifted their target price on shares of Glaukos from $193.00 to $202.00 and gave the stock a “buy” rating in a research note on Thursday, August 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Glaukos in a research report on Friday, July 17th. HC Wainwright upped their price target on shares of Glaukos from $168.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $195.00 price objective (up from $165.00) on shares of Glaukos in a report on Thursday, July 30th. Twelve research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $178.08.

Glaukos Stock Performance

NYSE:GKOS opened at $179.95 on Friday. The business’s fifty day moving average is $162.64 and its 200 day moving average is $133.95. The firm has a market cap of $10.61 billion, a price-to-earnings ratio of -55.37 and a beta of 0.78. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.46 and a current ratio of 5.04. Glaukos Corporation has a 52-week low of $73.16 and a 52-week high of $191.62.

Glaukos (NYSE:GKOS) last issued its earnings results on Wednesday, July 29th. The medical instruments supplier reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.07. The business had revenue of $185.61 million during the quarter, compared to the consensus estimate of $150.93 million. Glaukos had a negative return on equity of 6.37% and a negative net margin of 30.68%.The firm’s revenue was up 49.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.24) EPS. Research analysts predict that Glaukos Corporation will post -0.32 EPS for the current year.

Insider Activity

In other news, Director Gilbert H. Kliman sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $190.00, for a total value of $475,000.00. Following the completion of the transaction, the director directly owned 37,406 shares in the company, valued at approximately $7,107,140. This trade represents a 6.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Leana Wen sold 525 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $167.63, for a total transaction of $88,005.75. Following the completion of the transaction, the director owned 21,092 shares of the company’s stock, valued at $3,535,651.96. This trade represents a 2.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 113,025 shares of company stock valued at $19,600,006. Corporate insiders own 5.90% of the company’s stock.

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.