Braidwell LP Sells 171,578 Shares of Glaukos Corporation $GKOS

Braidwell LP reduced its stake in Glaukos Corporation (NYSE:GKOS) by 22.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 591,927 shares of the medical instruments supplier’s stock after selling 171,578 shares during the quarter. Glaukos makes up approximately 3.1% of Braidwell LP’s investment portfolio, making the stock its 5th largest position. Braidwell LP’s holdings in Glaukos were worth $82,728,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of GKOS. Stephens Inc. AR purchased a new stake in shares of Glaukos in the first quarter valued at about $363,000. DNB Asset Management AS raised 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 purchasing an additional 8,770 shares during the period. Quantinno Capital Management LP boosted its holdings in Glaukos by 964.0% in the 1st quarter. Quantinno Capital Management LP now owns 30,836 shares of the medical instruments supplier’s stock valued at $3,320,000 after purchasing an additional 27,938 shares during the last quarter. Landscape Capital Management L.L.C. boosted its holdings in Glaukos by 125.3% in the 4th 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 last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Glaukos by 209.0% in the 4th 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 last quarter. 99.04% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GKOS. UBS Group assumed coverage on shares of Glaukos in a report on Tuesday, July 28th. They set a “neutral” rating and a $150.00 price target for the company. HC Wainwright upped their price objective on Glaukos from $168.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, July 30th. William Blair reiterated an “outperform” rating on shares of Glaukos in a research report on Tuesday, May 26th. BTIG Research raised their target price on Glaukos from $193.00 to $202.00 and gave the stock a “buy” rating in a research note on Thursday, August 20th. Finally, Piper Sandler restated an “overweight” rating and issued a $195.00 target price (up from $165.00) on shares of Glaukos in a research report on Thursday, July 30th. Twelve research 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.com, Glaukos has a consensus rating of “Moderate Buy” and a consensus price target of $178.08.

Glaukos Price Performance

Shares of GKOS opened at $179.56 on Thursday. The firm has a 50-day simple moving average of $165.28 and a two-hundred day simple moving average of $135.56. The stock has a market cap of $10.59 billion, a PE ratio of -55.25 and a beta of 0.76. Glaukos Corporation has a 1-year low of $73.16 and a 1-year high of $191.62. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.04 and a quick ratio of 4.46.

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

Insider Transactions at Glaukos

In other news, Director Gilbert H. Kliman sold 2,500 shares of Glaukos stock in a transaction on Wednesday, August 19th. The stock was 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 approximately $7,107,140. The trade was a 6.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Alex R. Thurman sold 20,000 shares of Glaukos stock in a transaction on Friday, August 7th. The shares were sold at an average price of $180.13, for a total value of $3,602,600.00. Following the completion of the sale, the chief financial officer directly owned 43,906 shares of the company’s stock, valued at $7,908,787.78. The trade was a 31.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 113,025 shares of company stock valued at $19,600,006 over the last three months. 5.90% of the stock is currently owned by company insiders.

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.