Glaukos Corporation $GKOS Shares Sold by Holocene Advisors LP

Holocene Advisors LP trimmed its holdings in Glaukos Corporation (NYSE:GKOS) by 47.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 547,052 shares of the medical instruments supplier’s stock after selling 498,834 shares during the quarter. Holocene Advisors LP owned about 0.95% of Glaukos worth $44,612,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in GKOS. Wellington Management Group LLP lifted its position 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 worth $292,004,000 after buying an additional 336,266 shares in the last quarter. Primecap Management Co. CA grew its holdings in Glaukos by 23.3% in the 3rd 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. State Street Corp increased its stake in shares of Glaukos by 5.3% in the 2nd quarter. State Street Corp now owns 2,090,365 shares of the medical instruments supplier’s stock worth $215,914,000 after acquiring an additional 105,972 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Glaukos by 3.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,999,252 shares of the medical instruments supplier’s stock worth $206,503,000 after acquiring an additional 68,497 shares during the period. Finally, Alliancebernstein L.P. boosted its position in shares of Glaukos by 38.5% during the 3rd quarter. Alliancebernstein L.P. now owns 1,733,474 shares of the medical instruments supplier’s stock valued at $141,365,000 after acquiring an additional 481,620 shares during the last quarter. 99.04% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Glaukos

In other Glaukos news, CEO Thomas William Burns sold 186,945 shares of the business’s stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $115.00, for a total transaction of $21,498,675.00. Following the sale, the chief executive officer directly owned 153,775 shares in the company, valued at $17,684,125. This represents a 54.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Aimee S. Weisner sold 15,000 shares of the stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $117.38, for a total transaction of $1,760,700.00. Following the sale, the director directly owned 18,806 shares in the company, valued at $2,207,448.28. This represents a 44.37% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 320,000 shares of company stock worth $37,202,909 in the last 90 days. Insiders own 5.80% of the company’s stock.

Analyst Upgrades and Downgrades

GKOS has been the subject of a number of analyst reports. Piper Sandler reissued an “overweight” rating and issued a $165.00 price objective on shares of Glaukos in a report on Wednesday, January 14th. BTIG Research reiterated a “buy” rating and issued a $131.00 target price on shares of Glaukos in a report on Wednesday, February 18th. Truist Financial increased their price target 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. Weiss Ratings restated a “sell (d-)” rating on shares of Glaukos in a report on Thursday, January 22nd. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $138.00 price target on shares of Glaukos in a research report on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $133.69.

Glaukos Stock Up 2.0%

Shares of NYSE GKOS opened at $98.94 on Tuesday. The firm has a market cap of $5.75 billion, a price-to-earnings ratio of -30.35 and a beta of 0.70. The company has a quick ratio of 4.06, a current ratio of 4.69 and a debt-to-equity ratio of 0.10. Glaukos Corporation has a 52-week low of $73.16 and a 52-week high of $130.23. The business’s 50 day moving average is $114.35 and its two-hundred day moving average is $101.31.

Glaukos (NYSE:GKOS) last released its quarterly earnings results on Tuesday, February 17th. The medical instruments supplier reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.06). Glaukos had a negative return on equity of 7.00% and a negative net margin of 36.99%.The firm had revenue of $143.12 million for the quarter, compared to analysts’ expectations of $132.16 million. During the same quarter in the prior year, the business earned ($0.40) earnings per share. The company’s quarterly revenue was up 35.6% on a year-over-year basis. Research analysts predict that Glaukos Corporation will post -1.08 EPS for the current year.

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.