Illinois Municipal Retirement Fund Decreases Position in Glaukos Corporation $GKOS

Illinois Municipal Retirement Fund reduced its position in Glaukos Corporation (NYSE:GKOS) by 23.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 28,244 shares of the medical instruments supplier’s stock after selling 8,657 shares during the period. Illinois Municipal Retirement Fund’s holdings in Glaukos were worth $2,917,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GKOS. Park Place Capital Corp boosted its holdings in shares of Glaukos by 68.4% during the 2nd quarter. Park Place Capital Corp now owns 399 shares of the medical instruments supplier’s stock valued at $41,000 after acquiring an additional 162 shares during the last quarter. Harbor Capital Advisors Inc. lifted its position in Glaukos by 0.4% during the second quarter. Harbor Capital Advisors Inc. now owns 39,305 shares of the medical instruments supplier’s stock valued at $4,060,000 after purchasing an additional 173 shares during the period. AQR Capital Management LLC boosted its holdings in Glaukos by 2.6% in the first quarter. AQR Capital Management LLC now owns 7,788 shares of the medical instruments supplier’s stock worth $766,000 after purchasing an additional 198 shares during the last quarter. Xponance Inc. grew its position in Glaukos by 5.8% in the 1st quarter. Xponance Inc. now owns 3,843 shares of the medical instruments supplier’s stock worth $378,000 after purchasing an additional 210 shares during the period. Finally, Profund Advisors LLC grew its position in Glaukos by 13.9% in the 2nd quarter. Profund Advisors LLC now owns 2,822 shares of the medical instruments supplier’s stock worth $291,000 after purchasing an additional 345 shares during the period. 99.04% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GKOS. Truist Financial set a $120.00 target price on Glaukos in a report on Thursday, October 30th. BTIG Research lifted their price objective on Glaukos from $104.00 to $116.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. The Goldman Sachs Group began coverage on Glaukos in a research report on Wednesday, October 1st. They set a “buy” rating and a $103.00 price objective on the stock. Citigroup upped their target price on Glaukos from $110.00 to $113.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Finally, Needham & Company LLC raised their target price on shares of Glaukos from $115.00 to $117.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $119.08.

Glaukos Trading Down 1.1%

GKOS stock opened at $91.59 on Friday. Glaukos Corporation has a 52-week low of $73.16 and a 52-week high of $163.71. The company has a quick ratio of 4.69, a current ratio of 5.51 and a debt-to-equity ratio of 0.09. The firm has a market cap of $5.26 billion, a P/E ratio of -59.47 and a beta of 0.81. The company’s 50-day simple moving average is $84.18 and its 200-day simple moving average is $91.26.

Glaukos (NYSE:GKOS) last issued its quarterly earnings results on Wednesday, October 29th. The medical instruments supplier reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.11. The firm had revenue of $133.54 million during the quarter, compared to analysts’ expectations of $122.55 million. Glaukos had a negative return on equity of 7.53% and a negative net margin of 18.65%.The firm’s revenue for the quarter was up 38.1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.28) earnings per share. Glaukos has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Glaukos Corporation will post -1.08 EPS for the current fiscal year.

Glaukos Profile

Glaukos Corporation, an ophthalmic pharmaceutical and medical technology company, focuses on the development of novel therapies for the treatment of glaucoma, corneal disorders, and retinal diseases. It offers iStent and iStent inject W micro-bypass stents that enhance aqueous humor outflow inserted in cataract surgery to treat mild-to-moderate open-angle glaucoma.