Granite Investment Partners LLC Sells 55,233 Shares of Glaukos Corporation $GKOS

Granite Investment Partners LLC lowered its stake in shares of Glaukos Corporation (NYSE:GKOS) by 28.7% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 137,347 shares of the medical instruments supplier’s stock after selling 55,233 shares during the period. Granite Investment Partners LLC owned approximately 0.24% of Glaukos worth $11,201,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Smartleaf Asset Management LLC boosted its position in shares of Glaukos by 16.2% during the second quarter. Smartleaf Asset Management LLC now owns 973 shares of the medical instruments supplier’s stock valued at $99,000 after buying an additional 136 shares during the last quarter. UMB Bank n.a. raised its position in Glaukos by 102.6% in the 3rd quarter. UMB Bank n.a. now owns 312 shares of the medical instruments supplier’s stock valued at $25,000 after buying an additional 158 shares during the last quarter. AQR Capital Management LLC lifted its stake in Glaukos by 2.6% during the 1st quarter. AQR Capital Management LLC now owns 7,788 shares of the medical instruments supplier’s stock valued at $766,000 after acquiring an additional 198 shares in the last quarter. State of Wyoming boosted its holdings in Glaukos by 13.1% during the 3rd quarter. State of Wyoming now owns 1,723 shares of the medical instruments supplier’s stock worth $141,000 after acquiring an additional 199 shares during the last quarter. Finally, Amalgamated Bank grew its stake in shares of Glaukos by 1.5% in the 3rd quarter. Amalgamated Bank now owns 16,238 shares of the medical instruments supplier’s stock worth $1,324,000 after acquiring an additional 242 shares in the last quarter. 99.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GKOS has been the topic of a number of recent analyst reports. Stifel Nicolaus raised their price target on shares of Glaukos from $115.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Wells Fargo & Company increased their price objective on shares of Glaukos from $122.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday. Truist Financial boosted their target price on Glaukos from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, December 18th. Needham & Company LLC upped their target price on Glaukos from $125.00 to $127.00 and gave the company a “buy” rating in a report on Wednesday. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $138.00 price target on shares of Glaukos in a report on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Glaukos currently has a consensus rating of “Moderate Buy” and an average price target of $133.69.

Glaukos Stock Up 2.8%

Glaukos stock opened at $120.41 on Monday. The firm has a 50 day moving average price of $115.30 and a 200-day moving average price of $99.01. 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 $142.95. The company has a market capitalization of $6.92 billion, a P/E ratio of -36.93 and a beta of 0.70.

Glaukos (NYSE:GKOS) last posted its quarterly earnings data on Tuesday, February 17th. The medical instruments supplier reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.06). Glaukos had a negative net margin of 36.99% and a negative return on equity of 7.00%. The firm had revenue of $143.12 million during the quarter, compared to analysts’ expectations of $132.16 million. During the same quarter in the previous year, the company posted ($0.40) EPS. Glaukos’s revenue for the quarter was up 35.6% on a year-over-year basis. As a group, equities analysts predict that Glaukos Corporation will post -1.08 EPS for the current year.

Insider Activity

In other Glaukos news, CFO Alex R. Thurman sold 315 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $105.00, for a total transaction of $33,075.00. Following the sale, the chief financial officer directly owned 50,488 shares of the company’s stock, valued at $5,301,240. This represents a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Thomas William Burns sold 186,945 shares of the stock in a transaction dated Friday, January 16th. The stock was 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 represents a 54.87% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 310,315 shares of company stock worth $36,011,634. 6.40% of the stock is owned by company 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.