Connor Clark & Lunn Investment Management Ltd. Invests $1.36 Million in Glaukos Corporation $GKOS

Connor Clark & Lunn Investment Management Ltd. acquired a new position in Glaukos Corporation (NYSE:GKOS) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,118 shares of the medical instruments supplier’s stock, valued at approximately $1,355,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GKOS. Nuveen LLC bought a new position in Glaukos during the first quarter valued at about $31,474,000. Ehrlich Financial Group acquired a new stake in Glaukos in the 2nd quarter valued at about $1,034,000. Royal Bank of Canada lifted its holdings in Glaukos by 103.2% in the 1st quarter. Royal Bank of Canada now owns 228,249 shares of the medical instruments supplier’s stock valued at $22,464,000 after acquiring an additional 115,939 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Glaukos during the 1st quarter valued at about $307,000. Finally, LPL Financial LLC grew its stake in shares of Glaukos by 25.1% in the 1st quarter. LPL Financial LLC now owns 15,775 shares of the medical instruments supplier’s stock worth $1,553,000 after purchasing an additional 3,163 shares during the last quarter. 99.04% of the stock is currently owned by institutional investors.

Glaukos Trading Down 1.8%

Glaukos stock opened at $88.42 on Tuesday. The stock has a market cap of $5.08 billion, a P/E ratio of -57.41 and a beta of 0.81. Glaukos Corporation has a 12 month low of $73.16 and a 12 month high of $163.71. The company has a quick ratio of 4.69, a current ratio of 5.51 and a debt-to-equity ratio of 0.09. The company’s fifty day simple moving average is $84.04 and its 200-day simple moving average is $91.23.

Glaukos (NYSE:GKOS) last issued its earnings results on Wednesday, October 29th. The medical instruments supplier reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.11. Glaukos had a negative return on equity of 7.53% and a negative net margin of 18.65%.The firm had revenue of $133.54 million for the quarter, compared to the consensus estimate of $122.55 million. During the same quarter in the previous year, the company posted ($0.28) earnings per share. The business’s quarterly revenue was up 38.1% compared to the same quarter last year. Glaukos has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Glaukos Corporation will post -1.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on GKOS shares. The Goldman Sachs Group initiated coverage on shares of Glaukos in a research report on Wednesday, October 1st. They issued a “buy” rating and a $103.00 price target on the stock. BTIG Research raised their price objective on Glaukos from $104.00 to $116.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Wells Fargo & Company boosted their target price on Glaukos from $120.00 to $122.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. JPMorgan Chase & Co. upped their target price on Glaukos from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Finally, Truist Financial set a $120.00 price target on Glaukos in a research note on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $119.08.

About Glaukos

Glaukos Corporation, an ophthalmic pharmaceutical and medical technology company, focuses on the development of novel therapies for the treatment of glaucoma, corneal disorders, and retinal diseases. It offers iStent and iStent inject W micro-bypass stents that enhance aqueous humor outflow inserted in cataract surgery to treat mild-to-moderate open-angle glaucoma.