Westfield Capital Management Co. LP Boosts Position in Glaukos Corporation $GKOS

Westfield Capital Management Co. LP increased its position in shares of Glaukos Corporation (NYSE:GKOS) by 5.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,231,641 shares of the medical instruments supplier’s stock after acquiring an additional 63,788 shares during the quarter. Westfield Capital Management Co. LP’s holdings in Glaukos were worth $100,440,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of GKOS. Norges Bank purchased a new position in Glaukos during the second quarter worth about $76,314,000. Primecap Management Co. CA increased its holdings in shares of Glaukos by 50.0% during the 2nd quarter. Primecap Management Co. CA now owns 1,827,998 shares of the medical instruments supplier’s stock worth $188,814,000 after buying an additional 609,523 shares during the last quarter. Champlain Investment Partners LLC acquired a new stake in shares of Glaukos during the 2nd quarter worth approximately $37,497,000. Holocene Advisors LP raised its position in shares of Glaukos by 40.1% during the 2nd quarter. Holocene Advisors LP now owns 1,045,886 shares of the medical instruments supplier’s stock valued at $108,030,000 after buying an additional 299,118 shares during the period. Finally, Granite Investment Partners LLC lifted its holdings in Glaukos by 1,189.7% in the second quarter. Granite Investment Partners LLC now owns 192,580 shares of the medical instruments supplier’s stock valued at $19,892,000 after acquiring an additional 177,648 shares during the last quarter. Hedge funds and other institutional investors own 99.04% of the company’s stock.

Glaukos Price Performance

GKOS opened at $121.25 on Thursday. The stock’s 50-day moving average price is $115.75 and its 200 day moving average price is $99.63. Glaukos Corporation has a 12-month low of $73.16 and a 12-month high of $130.23. The firm has a market cap of $7.04 billion, a price-to-earnings ratio of -37.19 and a beta of 0.70. The company has a current ratio of 4.69, a quick ratio of 4.06 and a debt-to-equity ratio of 0.10.

Glaukos (NYSE:GKOS) last issued its quarterly earnings results on Tuesday, February 17th. The medical instruments supplier reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.06). Glaukos had a negative return on equity of 7.00% and a negative net margin of 36.99%.The business had revenue of $143.12 million for the quarter, compared to analyst estimates of $132.16 million. During the same period in the prior year, the company posted ($0.40) EPS. The firm’s revenue for the quarter was up 35.6% compared to the same quarter last year. As a group, sell-side analysts expect that Glaukos Corporation will post -1.08 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Stephens raised their target price on Glaukos from $115.00 to $145.00 and gave the stock an “overweight” rating in a research note on Friday, January 2nd. Needham & Company LLC increased their price target on Glaukos from $125.00 to $127.00 and gave the stock a “buy” rating in a report on Wednesday, February 18th. Wall Street Zen downgraded Glaukos from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. Citigroup boosted their price objective on shares of Glaukos from $113.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Finally, UBS Group increased their target price on shares of Glaukos from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, December 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Glaukos presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.69.

Insider Buying and Selling

In other news, Director Gilbert H. Kliman sold 5,000 shares of the stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $107.27, for a total value of $536,350.00. Following the sale, the director directly owned 34,905 shares in the company, valued at approximately $3,744,259.35. This trade represents a 12.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Marc Stapley sold 15,000 shares of Glaukos stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $127.71, for a total value of $1,915,650.00. Following the completion of the transaction, the director owned 37,449 shares of the company’s stock, valued at approximately $4,782,611.79. This trade represents a 28.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 325,000 shares of company stock worth $37,739,259 over the last three months. 5.80% of the stock is owned by insiders.

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.