Legal & General Group Plc Invests $23.18 Million in Glaukos Corporation $GKOS

Legal & General Group Plc bought a new position in shares of Glaukos Corporation (NYSE:GKOS) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 165,836 shares of the medical instruments supplier’s stock, valued at approximately $23,177,000. Legal & General Group Plc owned approximately 0.28% of Glaukos as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. BTIG Research increased their price target on Glaukos from $193.00 to $202.00 and gave the company a “buy” rating in a report on Thursday, August 20th. Wells Fargo & Company boosted their price objective on Glaukos from $138.00 to $178.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Stifel Nicolaus increased their target price on Glaukos from $175.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Truist Financial raised their target price on Glaukos from $180.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Finally, William Blair reissued an “outperform” rating on shares of Glaukos in a research report on Tuesday, May 26th. Twelve equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $178.08.

Insider Activity at Glaukos

In other Glaukos news, COO Joseph E. Gilliam sold 60,000 shares of the firm’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $179.74, for a total transaction of $10,784,400.00. Following the completion of the transaction, the chief operating officer directly owned 72,588 shares of the company’s stock, valued at $13,046,967.12. This trade represents a 45.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Alex R. Thurman sold 20,000 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $180.13, for a total transaction of $3,602,600.00. Following the completion of the sale, the chief financial officer directly owned 43,906 shares of the company’s stock, valued at $7,908,787.78. The trade was a 31.30% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 113,025 shares of company stock valued at $19,600,006. Insiders own 5.90% of the company’s stock.

Glaukos Price Performance

Shares of NYSE GKOS opened at $179.95 on Friday. The company has a quick ratio of 4.46, a current ratio of 5.04 and a debt-to-equity ratio of 0.10. Glaukos Corporation has a fifty-two week low of $73.16 and a fifty-two week high of $191.62. The business has a 50 day moving average price of $162.64 and a two-hundred day moving average price of $133.95. The firm has a market cap of $10.61 billion, a PE ratio of -55.37 and a beta of 0.78.

Glaukos (NYSE:GKOS) last announced its earnings results on Wednesday, July 29th. The medical instruments supplier reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.07. The company had revenue of $185.61 million for the quarter, compared to analyst estimates of $150.93 million. Glaukos had a negative return on equity of 6.37% and a negative net margin of 30.68%.Glaukos’s quarterly revenue was up 49.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.24) EPS. Sell-side analysts expect that Glaukos Corporation will post -0.32 earnings per share for the current fiscal year.

Glaukos Company 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.