Oppenheimer Asset Management Inc. Takes Position in Glaukos Corporation $GKOS

Oppenheimer Asset Management Inc. purchased a new position in Glaukos Corporation (NYSE:GKOS) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 19,564 shares of the medical instruments supplier’s stock, valued at approximately $2,734,000.

Several other hedge funds have also recently made changes to their positions in the stock. First Horizon Corp lifted its position in Glaukos by 1,715.4% during the fourth quarter. First Horizon Corp now owns 236 shares of the medical instruments supplier’s stock valued at $27,000 after purchasing an additional 223 shares during the period. Los Angeles Capital Management LLC bought a new stake in Glaukos in the 4th quarter worth approximately $28,000. Larson Financial Group LLC grew its position in Glaukos by 62.0% in the 4th quarter. Larson Financial Group LLC now owns 345 shares of the medical instruments supplier’s stock worth $39,000 after purchasing an additional 132 shares during the period. Parallel Advisors LLC raised its stake in Glaukos by 159.2% during the 1st quarter. Parallel Advisors LLC now owns 368 shares of the medical instruments supplier’s stock valued at $40,000 after buying an additional 226 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its stake in Glaukos by 111.4% during the 4th quarter. Farther Finance Advisors LLC now owns 408 shares of the medical instruments supplier’s stock valued at $46,000 after buying an additional 215 shares during the last quarter. 99.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on GKOS shares. William Blair restated an “outperform” rating on shares of Glaukos in a research note on Tuesday, May 26th. Stifel Nicolaus upped their price objective on Glaukos from $175.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. JPMorgan Chase & Co. upped their price objective on Glaukos from $120.00 to $140.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Piper Sandler reissued an “overweight” rating and issued a $195.00 target price (up from $165.00) on shares of Glaukos in a report on Thursday, July 30th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Glaukos in a research report on Friday, July 17th. 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $177.33.

Glaukos Stock Down 2.3%

GKOS opened at $185.01 on Friday. The stock has a market cap of $10.91 billion, a price-to-earnings ratio of -56.93 and a beta of 0.78. 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’s fifty day moving average is $151.24 and its 200 day moving average is $129.36. Glaukos Corporation has a fifty-two week low of $73.16 and a fifty-two week high of $190.00.

Glaukos (NYSE:GKOS) last issued its quarterly earnings results on Wednesday, July 29th. The medical instruments supplier reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.07. The business had revenue of $185.61 million during 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%.Glaukos’s revenue for the quarter was up 49.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.24) EPS. On average, sell-side analysts forecast that Glaukos Corporation will post -0.35 earnings per share for the current fiscal year.

Insider Transactions at Glaukos

In other news, 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 value of $3,602,600.00. Following the completion of the transaction, the chief financial officer owned 43,906 shares of the company’s stock, valued at $7,908,787.78. This represents a 31.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Leana Wen sold 525 shares of the stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $167.63, for a total value of $88,005.75. Following the sale, the director owned 21,092 shares of the company’s stock, valued at $3,535,651.96. This represents a 2.43% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 110,525 shares of company stock valued at $19,125,006 over the last 90 days. Company insiders own 5.90% of the company’s stock.

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.