Glaukos Corporation $GKOS Shares Sold by Eversept Partners LP

Eversept Partners LP cut its stake in shares of Glaukos Corporation (NYSE:GKOS) by 59.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,214 shares of the medical instruments supplier’s stock after selling 87,257 shares during the quarter. Eversept Partners LP owned 0.10% of Glaukos worth $6,483,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of GKOS. Wellington Management Group LLP lifted its holdings in shares of 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 purchasing an additional 336,266 shares during the last quarter. Primecap Management Co. CA boosted its position in shares of Glaukos by 49.8% in the 4th quarter. Primecap Management Co. CA now owns 3,376,928 shares of the medical instruments supplier’s stock valued at $381,289,000 after purchasing an additional 1,123,140 shares during the period. Janus Henderson Group PLC increased its stake in 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 purchasing an additional 1,953,578 shares in the last quarter. State Street Corp increased its stake in Glaukos by 0.9% in the 4th quarter. State Street Corp now owns 2,122,402 shares of the medical instruments supplier’s stock worth $239,640,000 after purchasing an additional 18,040 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in 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 buying an additional 68,497 shares during the period. 99.04% of the stock is currently owned by institutional investors and hedge funds.

Glaukos Stock Performance

Shares of NYSE GKOS opened at $152.07 on Tuesday. Glaukos Corporation has a 12 month low of $73.16 and a 12 month high of $161.53. The company has a market cap of $8.93 billion, a P/E ratio of -46.36 and a beta of 0.75. The business’s 50 day moving average is $136.04 and its two-hundred day moving average is $123.80. 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 (NYSE:GKOS) last announced its quarterly earnings results on Wednesday, April 29th. The medical instruments supplier reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.12. The firm had revenue of $150.57 million during the quarter, compared to the consensus estimate of $137.00 million. Glaukos had a negative net margin of 34.34% and a negative return on equity of 6.92%. The firm’s quarterly revenue was up 41.2% on a year-over-year basis. During the same period last year, the firm posted ($0.22) EPS. On average, equities analysts expect that Glaukos Corporation will post -0.57 EPS for the current year.

Analyst Ratings Changes

A number of research firms have commented on GKOS. Piper Sandler reaffirmed an “overweight” rating and set a $165.00 price objective on shares of Glaukos in a research note on Wednesday, July 1st. Wall Street Zen lowered shares of Glaukos from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. HC Wainwright initiated coverage on shares of Glaukos in a research report on Monday, July 6th. They issued a “buy” rating and a $168.00 price target for the company. Needham & Company LLC raised their price objective on shares of Glaukos from $136.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, June 17th. Finally, Truist Financial lifted their price objective on shares of Glaukos from $160.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. Thirteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $154.85.

Insider Activity

In other news, COO Joseph E. Gilliam sold 19,573 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $143.54, for a total value of $2,809,508.42. Following the transaction, the chief operating officer directly owned 73,419 shares of the company’s stock, valued at $10,538,563.26. The trade was a 21.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gilbert H. Kliman sold 5,000 shares of the stock in a transaction that occurred 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 sale, the director owned 35,528 shares in the company, valued at approximately $5,000,921.28. This trade represents a 12.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 61,273 shares of company stock worth $8,882,003. 5.90% of the stock is currently owned by insiders.

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.