Primecap Management Co. CA Acquires Shares of 3,040,705 Glaukos Corporation $GKOS

Primecap Management Co. CA acquired a new stake in shares of Glaukos Corporation (NYSE:GKOS) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 3,040,705 shares of the medical instruments supplier’s stock, valued at approximately $424,969,000. Primecap Management Co. CA owned about 0.05% of Glaukos at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Stephens Inc. AR bought a new position in shares of Glaukos in the 1st quarter valued at about $363,000. DNB Asset Management AS increased its stake in Glaukos by 11.9% during the fourth quarter. DNB Asset Management AS now owns 82,320 shares of the medical instruments supplier’s stock worth $9,295,000 after acquiring an additional 8,770 shares during the last quarter. Quantinno Capital Management LP increased its stake in Glaukos by 964.0% during the first quarter. Quantinno Capital Management LP now owns 30,836 shares of the medical instruments supplier’s stock worth $3,320,000 after acquiring an additional 27,938 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Glaukos by 209.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,350,425 shares of the medical instruments supplier’s stock valued at $152,476,000 after purchasing an additional 913,458 shares during the period. Finally, Landscape Capital Management L.L.C. raised its position in Glaukos by 125.3% during the fourth quarter. Landscape Capital Management L.L.C. now owns 23,017 shares of the medical instruments supplier’s stock valued at $2,599,000 after purchasing an additional 12,799 shares during the period. Hedge funds and other institutional investors own 99.04% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. lifted their target price on Glaukos from $120.00 to $140.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. William Blair restated an “outperform” rating on shares of Glaukos in a report on Tuesday, May 26th. Citigroup raised their price target on Glaukos from $175.00 to $188.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Wall Street Zen raised shares of Glaukos from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Finally, BTIG Research boosted their price objective on shares of Glaukos from $193.00 to $202.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. Twelve analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $178.08.

Insider Activity at Glaukos

In other Glaukos news, Director Gilbert H. Kliman sold 2,500 shares of the business’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $190.00, for a total value of $475,000.00. Following the completion of the sale, the director directly owned 37,406 shares of the company’s stock, valued at $7,107,140. The trade was a 6.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Alex R. Thurman sold 20,000 shares of the company’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $180.13, for a total transaction of $3,602,600.00. Following the completion of the transaction, the chief financial officer owned 43,906 shares in the company, valued at $7,908,787.78. This represents a 31.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 113,025 shares of company stock worth $19,600,006. Corporate insiders own 5.90% of the company’s stock.

Glaukos Price Performance

Shares of GKOS stock opened at $181.48 on Wednesday. The stock has a 50 day moving average price of $159.57 and a 200 day moving average price of $132.67. Glaukos Corporation has a 52-week low of $73.16 and a 52-week high of $191.62. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.46 and a current ratio of 5.04. The firm has a market capitalization of $10.70 billion, a P/E ratio of -55.84 and a beta of 0.78.

Glaukos (NYSE:GKOS) last released its earnings results on Wednesday, July 29th. The medical instruments supplier reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.07. The business had revenue of $185.61 million for the quarter, compared to analyst estimates of $150.93 million. Glaukos had a negative return on equity of 6.37% and a negative net margin of 30.68%.The business’s revenue was up 49.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.24) earnings per share. As a group, sell-side analysts predict that Glaukos Corporation will post -0.32 earnings per share for the current year.

About Glaukos

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.