Glaukos Corporation $GKOS Position Reduced by Braidwell LP

Braidwell LP decreased its position in shares of Glaukos Corporation (NYSE:GKOS) by 22.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 591,927 shares of the medical instruments supplier’s stock after selling 171,578 shares during the quarter. Glaukos accounts for approximately 3.1% of Braidwell LP’s portfolio, making the stock its 5th largest holding. Braidwell LP owned 1.00% of Glaukos worth $82,728,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in Glaukos during the second quarter worth $1,333,318,000. Jupiter Topco LLC acquired a new stake in Glaukos in the second quarter valued at approximately $679,614,000. Primecap Management Co. CA acquired a new stake in Glaukos in the second quarter valued at approximately $424,969,000. Janus Henderson Group PLC increased its position in shares of Glaukos by 77.2% in the first quarter. Janus Henderson Group PLC now owns 5,348,395 shares of the medical instruments supplier’s stock valued at $575,844,000 after buying an additional 2,329,608 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Glaukos by 209.0% in 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 buying an additional 913,458 shares in the last quarter. 99.04% of the stock is owned by hedge funds and other institutional investors.

Glaukos Price Performance

Shares of Glaukos stock opened at $179.56 on Thursday. The business has a 50 day simple moving average of $165.28 and a two-hundred day simple moving average of $135.56. Glaukos Corporation has a 12 month low of $73.16 and a 12 month high of $191.62. The stock has a market capitalization of $10.59 billion, a P/E ratio of -55.25 and a beta of 0.76. 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 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. Glaukos had a negative return on equity of 6.37% and a negative net margin of 30.68%.The firm had revenue of $185.61 million for the quarter, compared to analyst estimates of $150.93 million. During the same period in the previous year, the company posted ($0.24) earnings per share. The business’s revenue was up 49.6% on a year-over-year basis. As a group, analysts predict that Glaukos Corporation will post -0.32 EPS for the current fiscal year.

Insider Buying and Selling at Glaukos

In other news, COO Joseph E. Gilliam sold 60,000 shares of the stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $179.74, for a total value of $10,784,400.00. Following the completion of the sale, the chief operating officer directly owned 72,588 shares in the company, valued at $13,046,967.12. This represents a 45.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gilbert H. Kliman sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $190.00, for a total transaction of $475,000.00. Following the completion of the transaction, the director directly owned 37,406 shares in the company, valued at approximately $7,107,140. This represents a 6.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 113,025 shares of company stock worth $19,600,006. Company insiders own 5.90% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on GKOS shares. HC Wainwright increased their target price on Glaukos from $168.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. UBS Group assumed coverage on shares of Glaukos in a report on Tuesday, July 28th. They issued a “neutral” rating and a $150.00 price target for the company. BTIG Research upped their price objective on shares of Glaukos from $193.00 to $202.00 and gave the stock a “buy” rating in a research report on Thursday, August 20th. William Blair reaffirmed an “outperform” rating on shares of Glaukos in a report on Tuesday, May 26th. Finally, Wall Street Zen raised shares of Glaukos from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Twelve research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $178.08.

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.