Lisanti Capital Growth LLC Makes New $7.24 Million Investment in Glaukos Corporation $GKOS

Lisanti Capital Growth LLC acquired a new stake in Glaukos Corporation (NYSE:GKOS) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 44,100 shares of the medical instruments supplier’s stock, valued at approximately $7,241,000. Glaukos makes up about 1.9% of Lisanti Capital Growth LLC’s portfolio, making the stock its 8th largest position. Lisanti Capital Growth LLC owned 0.07% of Glaukos as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in GKOS. Illinois Municipal Retirement Fund grew its stake in Glaukos by 17.7% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 30,142 shares of the medical instruments supplier’s stock worth $4,949,000 after buying an additional 4,528 shares during the last quarter. New York Life Investment Management LLC purchased a new stake in Glaukos in the third quarter valued at approximately $1,445,000. M&G PLC purchased a new stake in Glaukos in the third quarter valued at approximately $14,047,000. Fulcrum Asset Management LLP lifted its stake in Glaukos by 91.7% in the third quarter. Fulcrum Asset Management LLP now owns 184 shares of the medical instruments supplier’s stock valued at $29,000 after buying an additional 88 shares during the last quarter. Finally, Ethic Inc. acquired a new stake in shares of Glaukos in the third quarter valued at approximately $451,000. Hedge funds and other institutional investors own 99.04% of the company’s stock.

Glaukos Stock Up 4.9%

GKOS opened at $247.80 on Thursday. Glaukos Corporation has a 52 week low of $87.32 and a 52 week high of $255.18. The business has a 50 day moving average price of $181.98 and a two-hundred day moving average price of $145.86. The company has a quick ratio of 4.09, a current ratio of 4.57 and a debt-to-equity ratio of 0.09.

Glaukos (NYSE:GKOS) last announced its earnings results on Wednesday, October 28th. The medical instruments supplier reported $0.47 earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.57. The company had revenue of $211.03 million for the quarter, compared to the consensus estimate of $168.04 million. Glaukos had a negative return on equity of 0.97% and a negative net margin of 24.60%. The company’s revenue was up 58.0% on a year-over-year basis. During the same period last year, the business posted ($0.16) EPS. On average, equities research analysts predict that Glaukos Corporation will post 0.50 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on GKOS shares. Piper Sandler restated an “overweight” rating and set a $240.00 target price (up from $195.00) on shares of Glaukos in a research report on Thursday, October 29th. Stifel Nicolaus upped their price target on shares of Glaukos from $190.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, October 29th. HC Wainwright increased their price target on shares of Glaukos from $195.00 to $248.00 and gave the stock a “buy” rating in a research note on Thursday, October 29th. Jefferies Financial Group raised their price objective on shares of Glaukos from $190.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, September 22nd. Finally, Wells Fargo & Company raised their price objective on shares of Glaukos from $178.00 to $226.00 and gave the stock an “overweight” rating in a research report on Thursday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $216.71.

Insider Buying and Selling at Glaukos

In related news, Director Gilbert Kliman sold 2,500 shares of Glaukos stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $253.00, for a total value of $632,500.00. Following the transaction, the director directly owned 37,406 shares in the company, valued at $9,463,718. This trade represents a 6.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 5.90% of the stock is currently owned by corporate insiders.

About Glaukos

Glaukos Corporation is an ophthalmic medical technology company that develops and commercializes treatments for glaucoma and other eye disorders. Its portfolio includes minimally invasive glaucoma surgery (MIGS) devices, such as the iStent family, and iDose TR, an implant designed to deliver glaucoma medication inside the eye over an extended period. The company also offers products for corneal disorders, including technology used in corneal cross-linking procedures to treat keratoconus and other conditions that weaken the cornea.