Clough Capital Partners L P Makes New $2.30 Million Investment in Glaukos Corporation $GKOS

Clough Capital Partners L P purchased a new position in shares of Glaukos Corporation (NYSE:GKOS) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 20,368 shares of the medical instruments supplier’s stock, valued at approximately $2,300,000.

A number of other large investors also recently modified their holdings of GKOS. First Horizon Corp lifted its holdings in shares of Glaukos by 1,715.4% during the fourth quarter. First Horizon Corp now owns 236 shares of the medical instruments supplier’s stock worth $27,000 after buying an additional 223 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Glaukos during the fourth quarter valued at approximately $28,000. Larson Financial Group LLC increased its position in shares of Glaukos by 62.0% during the fourth quarter. Larson Financial Group LLC now owns 345 shares of the medical instruments supplier’s stock valued at $39,000 after purchasing an additional 132 shares during the period. Farther Finance Advisors LLC increased its position in shares of Glaukos by 111.4% during the fourth quarter. Farther Finance Advisors LLC now owns 408 shares of the medical instruments supplier’s stock valued at $46,000 after purchasing an additional 215 shares during the period. Finally, Salomon & Ludwin LLC increased its position in shares of Glaukos by 111.2% during the fourth quarter. Salomon & Ludwin LLC now owns 454 shares of the medical instruments supplier’s stock valued at $51,000 after purchasing an additional 239 shares during the period. 99.04% of the stock is currently owned by institutional investors and hedge funds.

Glaukos Price Performance

Shares of GKOS stock opened at $127.32 on Thursday. The stock’s fifty day moving average is $124.87 and its 200-day moving average is $116.80. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.73 and a current ratio of 5.43. The stock has a market capitalization of $7.48 billion, a PE ratio of -38.82 and a beta of 0.82. Glaukos Corporation has a 52 week low of $73.16 and a 52 week high of $148.11.

Glaukos (NYSE:GKOS) last announced its earnings results on Wednesday, April 29th. The medical instruments supplier reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.12. The company had revenue of $150.57 million for the quarter, compared to analysts’ expectations of $137.00 million. Glaukos had a negative return on equity of 6.92% and a negative net margin of 34.34%.The business’s revenue for the quarter was up 41.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.22) earnings per share. Equities research analysts expect that Glaukos Corporation will post -0.57 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Alex R. Thurman sold 10,000 shares of the stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $140.00, for a total transaction of $1,400,000.00. Following the sale, the chief financial officer owned 43,681 shares in the company, valued at approximately $6,115,340. This represents a 18.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Joseph E. Gilliam sold 19,573 shares of the company’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $143.54, for a total value of $2,809,508.42. Following the transaction, the chief operating officer directly owned 73,419 shares in the company, valued at $10,538,563.26. This trade represents a 21.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 45,305 shares of company stock worth $6,259,395 over the last ninety days. Company insiders own 5.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GKOS. Weiss Ratings reiterated a “sell (d-)” rating on shares of Glaukos in a research report on Tuesday, April 21st. Stifel Nicolaus set a $170.00 price target on Glaukos in a research report on Thursday, April 30th. Needham & Company LLC upped their price target on Glaukos from $136.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday. Citigroup upped their price target on Glaukos from $140.00 to $162.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. Finally, BTIG Research reiterated a “buy” rating and issued a $162.00 price target on shares of Glaukos in a research report on Wednesday, June 10th. 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $149.17.

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.