Clough Capital Partners L P Takes $2.30 Million Position in Glaukos Corporation $GKOS

Clough Capital Partners L P purchased a new stake in shares of Glaukos Corporation (NYSE:GKOS) during the 4th quarter, Holdings Channel reports. The fund purchased 20,368 shares of the medical instruments supplier’s stock, valued at approximately $2,300,000.

Several other large investors have also made changes to their positions in the company. Smartleaf Asset Management LLC lifted its stake in shares of Glaukos by 9.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,383 shares of the medical instruments supplier’s stock valued at $158,000 after acquiring an additional 122 shares during the period. Larson Financial Group LLC lifted its stake in Glaukos by 62.0% in the fourth quarter. Larson Financial Group LLC now owns 345 shares of the medical instruments supplier’s stock valued at $39,000 after buying an additional 132 shares during the period. CWM LLC lifted its stake in Glaukos by 25.2% in the fourth quarter. CWM LLC now owns 710 shares of the medical instruments supplier’s stock valued at $80,000 after buying an additional 143 shares during the period. Commonwealth Equity Services LLC lifted its stake in Glaukos by 1.7% in the fourth quarter. Commonwealth Equity Services LLC now owns 8,383 shares of the medical instruments supplier’s stock valued at $947,000 after buying an additional 144 shares during the period. Finally, Evergreen Capital Management LLC lifted its stake in Glaukos by 4.3% in the fourth quarter. Evergreen Capital Management LLC now owns 3,549 shares of the medical instruments supplier’s stock valued at $401,000 after buying an additional 145 shares during the period. Institutional investors and hedge funds own 99.04% of the company’s stock.

Insiders Place Their Bets

In other news, Director Leana Wen sold 1,700 shares of the firm’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $143.35, for a total transaction of $243,695.00. Following the sale, the director owned 19,739 shares of the company’s stock, valued at $2,829,585.65. This trade represents a 7.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Alex R. Thurman sold 10,000 shares of the firm’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $140.00, for a total value of $1,400,000.00. Following the sale, the chief financial officer directly owned 43,681 shares in the company, valued at approximately $6,115,340. This represents a 18.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 45,305 shares of company stock worth $6,259,395. 5.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on GKOS. BTIG Research reissued a “buy” rating and issued a $162.00 target price on shares of Glaukos in a research note on Wednesday, June 10th. Wells Fargo & Company increased their target price on Glaukos from $135.00 to $138.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. William Blair reissued an “outperform” rating on shares of Glaukos in a research note on Tuesday, May 26th. Needham & Company LLC increased their target price on Glaukos from $136.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Stifel Nicolaus set a $170.00 target price on Glaukos in a research note on Thursday, April 30th. Twelve analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $149.17.

Glaukos Trading Down 0.2%

NYSE GKOS opened at $127.32 on Thursday. The firm has a market cap of $7.48 billion, a P/E ratio of -38.82 and a beta of 0.82. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.43 and a quick ratio of 4.73. The stock’s 50-day moving average is $124.87 and its 200-day moving average is $116.80. Glaukos Corporation has a one year low of $73.16 and a one year high of $148.11.

Glaukos (NYSE:GKOS) last released its quarterly earnings results on Wednesday, April 29th. The medical instruments supplier reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.12. The company had revenue of $150.57 million for the quarter, compared to analyst estimates of $137.00 million. Glaukos had a negative return on equity of 6.92% and a negative net margin of 34.34%.Glaukos’s revenue was up 41.2% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.22) earnings per share. Sell-side analysts anticipate that Glaukos Corporation will post -0.57 earnings per share for the current fiscal year.

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.