Principal Financial Group Inc. Buys 6,172 Shares of Glaukos Corporation $GKOS

Principal Financial Group Inc. boosted its stake in Glaukos Corporation (NYSE:GKOS) by 2.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 280,737 shares of the medical instruments supplier’s stock after purchasing an additional 6,172 shares during the period. Principal Financial Group Inc. owned about 0.48% of Glaukos worth $30,224,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. First Horizon Corp grew its holdings in Glaukos by 1,715.4% during the 4th quarter. First Horizon Corp now owns 236 shares of the medical instruments supplier’s stock worth $27,000 after acquiring an additional 223 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Glaukos in the fourth quarter valued at about $28,000. Larson Financial Group LLC raised its position in shares of Glaukos by 62.0% during the fourth quarter. Larson Financial Group LLC now owns 345 shares of the medical instruments supplier’s stock worth $39,000 after acquiring an additional 132 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Glaukos by 111.4% in the fourth quarter. Farther Finance Advisors LLC now owns 408 shares of the medical instruments supplier’s stock worth $46,000 after acquiring an additional 215 shares during the period. Finally, Salomon & Ludwin LLC lifted its stake in shares of Glaukos by 111.2% in the fourth quarter. Salomon & Ludwin LLC now owns 454 shares of the medical instruments supplier’s stock worth $51,000 after acquiring an additional 239 shares during the period. Institutional investors own 99.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Glaukos in a research report on Tuesday, April 21st. HC Wainwright started coverage on shares of Glaukos in a research note on Monday, July 6th. They issued a “buy” rating and a $168.00 price objective on the stock. William Blair reaffirmed an “outperform” rating on shares of Glaukos in a research report on Tuesday, May 26th. Wells Fargo & Company increased their price target on Glaukos from $135.00 to $138.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Finally, Wall Street Zen downgraded Glaukos from a “buy” rating to a “hold” rating in a research note on Saturday. Thirteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $154.85.

Insider Transactions at Glaukos

In related news, CFO Alex R. Thurman sold 10,000 shares of Glaukos stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $155.00, for a total value of $1,550,000.00. Following the completion of the sale, the chief financial officer owned 43,681 shares of the company’s stock, valued at approximately $6,770,555. This trade represents a 18.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Joseph E. Gilliam sold 19,573 shares of Glaukos stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $143.54, for a total value of $2,809,508.42. Following the transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 61,273 shares of company stock worth $8,882,003. Insiders own 5.90% of the company’s stock.

Glaukos Trading Up 0.1%

GKOS opened at $156.97 on Monday. Glaukos Corporation has a 1-year low of $73.16 and a 1-year high of $161.53. The company has a market cap of $9.22 billion, a P/E ratio of -47.86 and a beta of 0.75. The company has a fifty day moving average price of $134.39 and a two-hundred day moving average price of $122.08. 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 (NYSE:GKOS) last posted its quarterly earnings results on Wednesday, April 29th. The medical instruments supplier reported ($0.18) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.12. The business had revenue of $150.57 million for the quarter, compared to the consensus estimate 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 revenue for the quarter was up 41.2% on a year-over-year basis. During the same period in the prior year, the business earned ($0.22) EPS. Analysts predict that Glaukos Corporation will post -0.57 EPS for the current fiscal 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.