Walleye Capital LLC Takes $3.75 Million Position in Glaukos Corporation $GKOS

Walleye Capital LLC purchased a new stake in shares of Glaukos Corporation (NYSE:GKOS) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 26,835 shares of the medical instruments supplier’s stock, valued at approximately $3,750,000.

Other large investors have also recently bought and sold shares of the company. Stephens Inc. AR purchased a new position in shares of Glaukos during the 1st quarter valued at $363,000. DNB Asset Management AS raised its holdings in shares of Glaukos by 11.9% during the fourth quarter. DNB Asset Management AS now owns 82,320 shares of the medical instruments supplier’s stock worth $9,295,000 after acquiring an additional 8,770 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of 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 worth $152,476,000 after acquiring an additional 913,458 shares in the last quarter. Norges Bank acquired a new stake in Glaukos during the fourth quarter valued at $60,536,000. Finally, Landscape Capital Management L.L.C. grew its stake in Glaukos by 125.3% in the fourth quarter. Landscape Capital Management L.L.C. now owns 23,017 shares of the medical instruments supplier’s stock valued at $2,599,000 after purchasing an additional 12,799 shares in the last quarter. 99.04% of the stock is owned by institutional investors and hedge funds.

Glaukos Trading Down 2.3%

NYSE:GKOS opened at $185.01 on Friday. The company’s 50 day moving average is $151.24 and its 200-day moving average is $129.36. 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 12 month low of $73.16 and a 12 month high of $190.00. The firm has a market cap of $10.91 billion, a price-to-earnings ratio of -56.93 and a beta of 0.78.

Glaukos (NYSE:GKOS) last posted its quarterly earnings data on Wednesday, July 29th. The medical instruments supplier reported ($0.14) earnings per share (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 net margin of 30.68% and a negative return on equity of 6.37%. Glaukos’s quarterly revenue was up 49.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.24) EPS. Equities analysts anticipate that Glaukos Corporation will post -0.35 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Alex R. Thurman sold 20,000 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $180.13, for a total transaction of $3,602,600.00. Following the transaction, the chief financial officer owned 43,906 shares in the company, valued at approximately $7,908,787.78. The trade was a 31.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Leana Wen sold 525 shares of the company’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $167.63, for a total transaction of $88,005.75. Following the transaction, the director directly owned 21,092 shares of the company’s stock, valued at $3,535,651.96. This represents a 2.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 110,525 shares of company stock worth $19,125,006 in the last ninety days. Insiders own 5.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on GKOS shares. Stifel Nicolaus raised their price target on Glaukos from $175.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Wells Fargo & Company lifted their target price on shares of Glaukos from $138.00 to $178.00 and gave the company an “overweight” rating in a research note on Thursday, July 30th. Wall Street Zen upgraded shares of Glaukos from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. JPMorgan Chase & Co. lifted their price objective on shares of Glaukos from $120.00 to $140.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Finally, Needham & Company LLC upped their price objective on shares of Glaukos from $150.00 to $201.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Twelve research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Glaukos currently has a consensus rating of “Moderate Buy” and an average target price of $177.33.

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.