Glaukos Corporation $GKOS Holdings Raised by Wellington Management Group LLP

Wellington Management Group LLP raised its stake in shares of Glaukos Corporation (NYSE:GKOS) by 187.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 428,215 shares of the medical instruments supplier’s stock after buying an additional 279,065 shares during the period. Wellington Management Group LLP owned about 0.73% of Glaukos worth $59,847,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of GKOS. Allworth Financial LP acquired a new position in shares of Glaukos in the second quarter worth $28,000. Los Angeles Capital Management LLC purchased a new position in Glaukos in the fourth quarter valued at about $28,000. Larson Financial Group LLC grew its stake in Glaukos by 62.0% in 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 in the last quarter. Parallel Advisors LLC increased its position in Glaukos by 159.2% in the 1st quarter. Parallel Advisors LLC now owns 368 shares of the medical instruments supplier’s stock worth $40,000 after purchasing an additional 226 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its position in Glaukos by 111.4% in the 4th quarter. Farther Finance Advisors LLC now owns 408 shares of the medical instruments supplier’s stock worth $46,000 after purchasing an additional 215 shares during the last quarter. 99.04% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Glaukos news, Director Leana Wen sold 525 shares of the company’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $167.63, for a total transaction of $88,005.75. Following the completion of the sale, the director directly owned 21,092 shares in the company, valued at $3,535,651.96. This represents a 2.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Joseph E. Gilliam sold 60,000 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $179.74, for a total value of $10,784,400.00. Following the completion of the sale, the chief operating officer directly owned 72,588 shares in the company, valued at approximately $13,046,967.12. This represents a 45.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 113,025 shares of company stock valued at $19,600,006. 5.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Citigroup raised their price objective on shares of Glaukos from $175.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. William Blair reissued an “outperform” rating on shares of Glaukos in a research report on Tuesday, May 26th. Wells Fargo & Company increased their price target on shares of Glaukos from $138.00 to $178.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Piper Sandler reaffirmed an “overweight” rating and issued a $195.00 price objective (up from $165.00) on shares of Glaukos in a research note on Thursday, July 30th. Finally, UBS Group began coverage on shares of Glaukos in a report on Tuesday, July 28th. They issued a “neutral” rating and a $150.00 price objective for the company. Twelve research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $178.08.

Glaukos Stock Up 1.6%

GKOS opened at $179.56 on Thursday. The firm has a market cap of $10.59 billion, a P/E ratio of -55.25 and a beta of 0.76. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.46 and a current ratio of 5.04. The business has a 50 day moving average price of $165.28 and a 200 day moving average price of $135.56. Glaukos Corporation has a twelve month low of $73.16 and a twelve month high of $191.62.

Glaukos (NYSE:GKOS) last released its quarterly earnings results on Wednesday, July 29th. The medical instruments supplier reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.07. Glaukos had a negative net margin of 30.68% and a negative return on equity of 6.37%. The company had revenue of $185.61 million for the quarter, compared to analyst estimates of $150.93 million. During the same quarter last year, the firm posted ($0.24) earnings per share. The company’s quarterly revenue was up 49.6% compared to the same quarter last year. Research analysts forecast that Glaukos Corporation will post -0.32 EPS for the current year.

Glaukos 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.