Maryland State Retirement & Pension System Sells 8,548 Shares of Glaukos Corporation $GKOS

Maryland State Retirement & Pension System trimmed its position in Glaukos Corporation (NYSE:GKOS) by 50.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,245 shares of the medical instruments supplier’s stock after selling 8,548 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Glaukos were worth $672,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GKOS. Evergreen Capital Management LLC lifted its position in shares of Glaukos by 16.9% during the 3rd quarter. Evergreen Capital Management LLC now owns 3,404 shares of the medical instruments supplier’s stock worth $278,000 after buying an additional 491 shares during the period. Campbell & CO Investment Adviser LLC bought a new stake in shares of Glaukos during the third quarter worth $1,108,000. Bayforest Capital Ltd increased its stake in shares of Glaukos by 56.2% in the third quarter. Bayforest Capital Ltd now owns 4,828 shares of the medical instruments supplier’s stock valued at $394,000 after buying an additional 1,737 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Glaukos by 7.4% in the third quarter. SG Americas Securities LLC now owns 10,740 shares of the medical instruments supplier’s stock valued at $876,000 after buying an additional 740 shares during the last quarter. Finally, KLP Kapitalforvaltning AS lifted its position in Glaukos by 8.5% during the 3rd quarter. KLP Kapitalforvaltning AS now owns 12,700 shares of the medical instruments supplier’s stock worth $1,036,000 after buying an additional 1,000 shares in the last quarter. Institutional investors own 99.04% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on GKOS. The Goldman Sachs Group restated a “buy” rating and issued a $138.00 price objective on shares of Glaukos in a research report on Friday, January 9th. JPMorgan Chase & Co. raised their price target on shares of Glaukos from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Piper Sandler reaffirmed an “overweight” rating and set a $165.00 price objective on shares of Glaukos in a report on Wednesday, January 14th. BTIG Research reissued a “buy” rating and issued a $116.00 target price on shares of Glaukos in a research note on Friday, January 2nd. Finally, Stephens boosted their target price on Glaukos from $115.00 to $145.00 and gave the stock an “overweight” rating in a research report on Friday, January 2nd. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.38.

Insider Buying and Selling

In related news, CEO Thomas William Burns sold 186,945 shares of Glaukos stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $115.00, for a total transaction of $21,498,675.00. Following the transaction, the chief executive officer owned 153,775 shares of the company’s stock, valued at $17,684,125. This trade represents a 54.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Alex R. Thurman sold 315 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $105.00, for a total transaction of $33,075.00. Following the completion of the sale, the chief financial officer directly owned 50,488 shares of the company’s stock, valued at $5,301,240. The trade was a 0.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 299,655 shares of company stock valued at $33,935,025 over the last 90 days. 5.80% of the stock is owned by corporate insiders.

Glaukos Stock Performance

Shares of Glaukos stock opened at $125.98 on Friday. The firm has a fifty day moving average of $109.93 and a two-hundred day moving average of $96.15. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.47 and a current ratio of 5.20. The stock has a market capitalization of $7.24 billion, a price-to-earnings ratio of -81.81 and a beta of 0.67. Glaukos Corporation has a 52 week low of $73.16 and a 52 week high of $163.71.

Glaukos (NYSE:GKOS) last posted its quarterly earnings results on Wednesday, October 29th. The medical instruments supplier reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.11. The business had revenue of $133.54 million for the quarter, compared to analyst estimates of $122.55 million. Glaukos had a negative return on equity of 7.52% and a negative net margin of 18.65%.The firm’s revenue was up 38.1% on a year-over-year basis. During the same period last year, the company earned ($0.28) EPS. As a group, equities research analysts predict that Glaukos Corporation will post -1.08 EPS for the current year.

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.