Principal Financial Group Inc. Reduces Stock Position in Glaukos Corporation $GKOS

Principal Financial Group Inc. cut its holdings in Glaukos Corporation (NYSE:GKOS) by 2.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 277,202 shares of the medical instruments supplier’s stock after selling 6,188 shares during the period. Principal Financial Group Inc. owned 0.48% of Glaukos worth $22,606,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in GKOS. UMB Bank n.a. grew its position in shares of Glaukos by 102.6% in the third quarter. UMB Bank n.a. now owns 312 shares of the medical instruments supplier’s stock valued at $25,000 after purchasing an additional 158 shares in the last quarter. Arizona State Retirement System boosted its stake in Glaukos by 2.4% in the 3rd quarter. Arizona State Retirement System now owns 16,908 shares of the medical instruments supplier’s stock worth $1,379,000 after purchasing an additional 399 shares during the period. Summit Global Investments bought a new position in Glaukos in the 3rd quarter worth about $229,000. AustralianSuper Pty Ltd grew its holdings in Glaukos by 10.8% during the 3rd quarter. AustralianSuper Pty Ltd now owns 449,846 shares of the medical instruments supplier’s stock valued at $36,685,000 after buying an additional 43,750 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Glaukos by 4,970.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,724 shares of the medical instruments supplier’s stock valued at $141,000 after buying an additional 1,690 shares during the period. Hedge funds and other institutional investors own 99.04% of the company’s stock.

Analyst Ratings Changes

GKOS has been the subject of several recent analyst reports. The Goldman Sachs Group reaffirmed a “buy” rating and set a $138.00 price objective on shares of Glaukos in a research note on Friday, January 9th. Stephens raised their price target on shares of Glaukos from $115.00 to $145.00 and gave the company an “overweight” rating in a report on Friday, January 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $125.00 price target on shares of Glaukos in a report on Wednesday, January 14th. Piper Sandler reissued an “overweight” rating and set a $165.00 price objective on shares of Glaukos in a research note on Wednesday, January 14th. Finally, JPMorgan Chase & Co. upped their target price on Glaukos from $110.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. 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 company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $132.54.

Glaukos Stock Down 0.9%

GKOS opened at $112.54 on Friday. The business’s fifty day simple moving average is $114.34 and its 200 day simple moving average is $97.46. Glaukos Corporation has a 52 week low of $73.16 and a 52 week high of $161.78. The company has a quick ratio of 4.47, a current ratio of 5.20 and a debt-to-equity ratio of 0.09. The stock has a market cap of $6.46 billion, a PE ratio of -73.08 and a beta of 0.70.

Insider Buying and Selling

In other news, CFO Alex R. Thurman sold 315 shares of the business’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 value of $33,075.00. Following the completion of the sale, the chief financial officer directly owned 50,488 shares in the company, valued at approximately $5,301,240. The trade was a 0.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Thomas William Burns sold 186,945 shares of the stock in a transaction 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 directly owned 153,775 shares in the company, valued at approximately $17,684,125. This represents a 54.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 329,655 shares of company stock worth $37,752,234 over the last ninety days. Corporate insiders own 5.80% of the company’s stock.

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.