Artisan Partners Limited Partnership Grows Position in Glaukos Corporation $GKOS

Artisan Partners Limited Partnership boosted its holdings in Glaukos Corporation (NYSE:GKOS) by 2.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 293,665 shares of the medical instruments supplier’s stock after buying an additional 6,444 shares during the quarter. Artisan Partners Limited Partnership’s holdings in Glaukos were worth $23,948,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Riverbridge Partners LLC lifted its position in Glaukos by 41.0% during the third quarter. Riverbridge Partners LLC now owns 569,644 shares of the medical instruments supplier’s stock valued at $46,454,000 after purchasing an additional 165,673 shares during the period. Holocene Advisors LP grew its position in Glaukos by 40.1% in the 2nd quarter. Holocene Advisors LP now owns 1,045,886 shares of the medical instruments supplier’s stock worth $108,030,000 after purchasing an additional 299,118 shares during the period. JPMorgan Chase & Co. raised its stake in Glaukos by 4.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 670,083 shares of the medical instruments supplier’s stock valued at $54,645,000 after buying an additional 27,646 shares during the last quarter. Baird Financial Group Inc. lifted its holdings in shares of Glaukos by 17.7% during the 2nd quarter. Baird Financial Group Inc. now owns 63,379 shares of the medical instruments supplier’s stock valued at $6,546,000 after buying an additional 9,545 shares during the period. Finally, Public Sector Pension Investment Board boosted its stake in shares of Glaukos by 14.8% in the 3rd quarter. Public Sector Pension Investment Board now owns 223,708 shares of the medical instruments supplier’s stock worth $18,243,000 after buying an additional 28,866 shares during the last quarter. Institutional investors own 99.04% of the company’s stock.

Insider Activity

In other news, Director Marc Stapley sold 15,000 shares of the business’s stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $127.71, for a total value of $1,915,650.00. Following the transaction, the director directly owned 37,449 shares in the company, valued at $4,782,611.79. The trade was a 28.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Aimee S. Weisner sold 15,000 shares of the company’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $117.38, for a total value of $1,760,700.00. Following the completion of the transaction, the director directly owned 18,806 shares of the company’s stock, valued at approximately $2,207,448.28. This trade represents a 44.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 325,000 shares of company stock worth $37,739,259. 5.80% of the stock is currently owned by insiders.

Glaukos Stock Down 1.2%

GKOS stock opened at $120.01 on Friday. The business’s 50-day moving average price is $116.00 and its 200-day moving average price is $100.09. The stock has a market cap of $6.97 billion, a P/E ratio of -36.81 and a beta of 0.70. The company has a quick ratio of 4.06, a current ratio of 4.69 and a debt-to-equity ratio of 0.10. Glaukos Corporation has a twelve month low of $73.16 and a twelve month high of $130.23.

Glaukos (NYSE:GKOS) last released its earnings results on Tuesday, February 17th. The medical instruments supplier reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $143.12 million for the quarter, compared to the consensus estimate of $132.16 million. During the same quarter in the previous year, the business posted ($0.40) EPS. Glaukos’s revenue was up 35.6% on a year-over-year basis. On average, equities research analysts forecast that Glaukos Corporation will post -1.08 EPS for the current year.

Wall Street Analyst Weigh In

GKOS has been the subject of several research analyst reports. William Blair raised Glaukos to a “strong-buy” rating in a report on Friday, January 30th. UBS Group boosted their price target on Glaukos from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, December 23rd. Piper Sandler reiterated an “overweight” rating and issued a $165.00 price objective on shares of Glaukos in a research note on Wednesday, January 14th. BTIG Research restated a “buy” rating and set a $131.00 target price on shares of Glaukos in a research report on Wednesday, February 18th. Finally, Truist Financial upped their target price on shares of Glaukos from $120.00 to $145.00 and gave the company a “buy” rating in a report on Thursday, December 18th. One 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 company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $133.69.

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.