Granite Investment Partners LLC Decreases Holdings in Glaukos Corporation $GKOS

Granite Investment Partners LLC reduced its holdings in shares of Glaukos Corporation (NYSE:GKOS) by 6.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 111,872 shares of the medical instruments supplier’s stock after selling 7,471 shares during the quarter. Granite Investment Partners LLC owned approximately 0.19% of Glaukos worth $12,044,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in GKOS. Wellington Management Group LLP lifted its stake in 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 worth $292,004,000 after purchasing an additional 336,266 shares during the last quarter. Primecap Management Co. CA boosted its holdings in Glaukos by 49.8% in the fourth 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 in the last quarter. Janus Henderson Group PLC increased its stake in Glaukos by 183.4% in the fourth quarter. Janus Henderson Group PLC now owns 3,018,787 shares of the medical instruments supplier’s stock valued at $340,855,000 after purchasing an additional 1,953,578 shares during the last quarter. State Street Corp increased its stake in Glaukos by 0.9% in the fourth quarter. State Street Corp now owns 2,122,402 shares of the medical instruments supplier’s stock valued at $239,640,000 after purchasing an additional 18,040 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in Glaukos by 3.5% during the second quarter. Ameriprise Financial Inc. now owns 1,999,252 shares of the medical instruments supplier’s stock worth $206,503,000 after purchasing an additional 68,497 shares in the last quarter. Hedge funds and other institutional investors own 99.04% of the company’s stock.

Insider Buying and Selling at Glaukos

In other news, CFO Alex R. Thurman sold 10,000 shares of the company’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $140.00, for a total value of $1,400,000.00. Following the completion of the sale, the chief financial officer directly owned 43,681 shares of the company’s stock, valued at approximately $6,115,340. This represents a 18.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Joseph E. Gilliam sold 19,573 shares of the stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $143.54, for a total transaction of $2,809,508.42. Following the sale, the chief operating officer owned 73,419 shares of the company’s stock, valued at $10,538,563.26. This trade represents a 21.05% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 51,273 shares of company stock valued at $7,332,003. Company insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Piper Sandler restated an “overweight” rating and set a $165.00 price objective on shares of Glaukos in a research report on Wednesday, July 1st. Citigroup increased their target price on shares of Glaukos from $162.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday. Wall Street Zen upgraded shares of Glaukos from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th. Wells Fargo & Company boosted their price target on shares of Glaukos from $135.00 to $138.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Finally, JPMorgan Chase & Co. upped 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. Thirteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Glaukos currently has a consensus rating of “Moderate Buy” and a consensus target price of $151.62.

Glaukos Price Performance

Shares of NYSE GKOS opened at $152.89 on Thursday. The company has a current ratio of 5.43, a quick ratio of 4.73 and a debt-to-equity ratio of 0.10. Glaukos Corporation has a twelve month low of $73.16 and a twelve month high of $154.61. The stock has a 50 day moving average of $131.05 and a two-hundred day moving average of $120.19. The stock has a market cap of $8.98 billion, a P/E ratio of -46.61 and a beta of 0.75.

Glaukos (NYSE:GKOS) last announced its earnings results on Wednesday, April 29th. The medical instruments supplier reported ($0.18) EPS for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.12. The business had revenue of $150.57 million for the quarter, compared to analysts’ expectations of $137.00 million. Glaukos had a negative net margin of 34.34% and a negative return on equity of 6.92%. The company’s quarterly revenue was up 41.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.22) EPS. On average, research analysts forecast that Glaukos Corporation will post -0.57 earnings per share for the current year.

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.