Y Intercept Hong Kong Ltd Decreases Stock Holdings in Glaukos Corporation $GKOS

Y Intercept Hong Kong Ltd lowered its stake in Glaukos Corporation (NYSE:GKOS) by 27.9% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 14,523 shares of the medical instruments supplier’s stock after selling 5,617 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Glaukos were worth $1,564,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SG Americas Securities LLC grew its position in shares of Glaukos by 460.8% in the fourth quarter. SG Americas Securities LLC now owns 60,232 shares of the medical instruments supplier’s stock valued at $6,801,000 after purchasing an additional 49,492 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of Glaukos by 32.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 355,279 shares of the medical instruments supplier’s stock worth $39,336,000 after purchasing an additional 87,781 shares during the last quarter. DNB Asset Management AS raised its position in shares of Glaukos by 11.9% during the 4th quarter. DNB Asset Management AS now owns 82,320 shares of the medical instruments supplier’s stock worth $9,295,000 after purchasing an additional 8,770 shares during the last quarter. Capricorn Fund Managers Ltd purchased a new position in Glaukos in the 4th quarter valued at about $6,775,000. Finally, JPMorgan Chase & Co. lifted its stake in Glaukos by 4.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 670,083 shares of the medical instruments supplier’s stock valued at $54,645,000 after buying an additional 27,646 shares in the last quarter. Hedge funds and other institutional investors own 99.04% of the company’s stock.

Insiders Place Their Bets

In related news, COO Joseph E. Gilliam sold 19,573 shares of the firm’s 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 completion of the sale, the chief operating officer directly owned 73,419 shares of the company’s stock, valued at approximately $10,538,563.26. This trade represents a 21.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Leana Wen sold 1,700 shares of the business’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $143.35, for a total transaction of $243,695.00. Following the completion of the sale, the director owned 19,739 shares in the company, valued at approximately $2,829,585.65. This trade represents a 7.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 51,273 shares of company stock worth $7,332,003. Company insiders own 5.90% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on GKOS. Needham & Company LLC boosted their price objective on Glaukos from $136.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, June 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Glaukos in a report on Tuesday, April 21st. Piper Sandler restated an “overweight” rating and issued a $165.00 target price on shares of Glaukos in a research report on Wednesday, July 1st. Wells Fargo & Company lifted their price target on Glaukos from $135.00 to $138.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Finally, Stifel Nicolaus set a $170.00 price target on Glaukos in a research report on Thursday, April 30th. Thirteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Glaukos has an average rating of “Moderate Buy” and a consensus target price of $151.62.

Glaukos Stock Up 1.3%

GKOS stock opened at $154.91 on Friday. The firm has a market cap of $9.10 billion, a PE ratio of -47.23 and a beta of 0.75. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.73 and a current ratio of 5.43. The firm’s 50 day moving average price is $131.76 and its 200-day moving average price is $120.46. Glaukos Corporation has a one year low of $73.16 and a one year high of $155.70.

Glaukos (NYSE:GKOS) last released its quarterly earnings data 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 firm had revenue of $150.57 million for the quarter, compared to analysts’ expectations of $137.00 million. Glaukos had a negative return on equity of 6.92% and a negative net margin of 34.34%.The firm’s quarterly revenue was up 41.2% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.22) earnings per share. On average, equities research analysts anticipate that Glaukos Corporation will post -0.57 EPS 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.