Wellington Management Group LLP Acquires 279,065 Shares of Glaukos Corporation $GKOS

Wellington Management Group LLP lifted its stake in Glaukos Corporation (NYSE:GKOS) by 187.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 428,215 shares of the medical instruments supplier’s stock after acquiring an additional 279,065 shares during the period. Wellington Management Group LLP’s holdings in Glaukos were worth $59,847,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. BlackRock Inc. bought a new stake in Glaukos in the 2nd quarter valued at $1,333,318,000. Jupiter Topco LLC bought a new position in shares of Glaukos during the 2nd quarter worth about $679,614,000. Primecap Management Co. CA acquired a new position in shares of Glaukos during the second quarter valued at about $424,969,000. Janus Henderson Group PLC lifted its stake in shares of Glaukos by 77.2% in the first quarter. Janus Henderson Group PLC now owns 5,348,395 shares of the medical instruments supplier’s stock valued at $575,844,000 after buying an additional 2,329,608 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Glaukos by 209.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,350,425 shares of the medical instruments supplier’s stock valued at $152,476,000 after buying an additional 913,458 shares during the period. 99.04% of the stock is currently owned by institutional investors and hedge funds.

Glaukos Trading Up 1.6%

Shares of GKOS opened at $179.56 on Thursday. Glaukos Corporation has a 1 year low of $73.16 and a 1 year high of $191.62. The company has a current ratio of 5.04, a quick ratio of 4.46 and a debt-to-equity ratio of 0.10. The stock has a 50 day simple moving average of $165.28 and a 200-day simple moving average of $135.56. The stock has a market cap of $10.59 billion, a PE ratio of -55.25 and a beta of 0.76.

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

Insider Activity

In related news, CFO Alex R. Thurman sold 20,000 shares of the 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 completion of the sale, the chief financial officer owned 43,906 shares in the company, valued at $7,908,787.78. This trade represents a 31.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Joseph E. Gilliam sold 60,000 shares of Glaukos stock in a transaction dated 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 transaction, the chief operating officer directly owned 72,588 shares of the company’s stock, valued at $13,046,967.12. This represents a 45.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 113,025 shares of company stock worth $19,600,006 in the last quarter. 5.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

GKOS has been the subject of a number of research reports. Wells Fargo & Company raised their price objective on Glaukos from $138.00 to $178.00 and gave the stock an “overweight” rating in a research report on Thursday, July 30th. UBS Group began coverage on Glaukos in a research note on Tuesday, July 28th. They issued a “neutral” rating and a $150.00 target price for the company. Citigroup raised their target price on Glaukos from $175.00 to $188.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Piper Sandler reissued an “overweight” rating and issued a $195.00 price target (up from $165.00) on shares of Glaukos in a report on Thursday, July 30th. Finally, BTIG Research increased their price objective on shares of Glaukos from $193.00 to $202.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. Twelve analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $178.08.

About Glaukos

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.