Envestnet Asset Management Inc. Acquires 7,444 Shares of Glaukos Corporation $GKOS

Envestnet Asset Management Inc. raised its stake in shares of Glaukos Corporation (NYSE:GKOS) by 15.4% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 55,883 shares of the medical instruments supplier’s stock after purchasing an additional 7,444 shares during the period. Envestnet Asset Management Inc. owned approximately 0.10% of Glaukos worth $4,557,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp lifted its holdings in shares of Glaukos by 5.3% in the second quarter. State Street Corp now owns 2,090,365 shares of the medical instruments supplier’s stock valued at $215,914,000 after purchasing an additional 105,972 shares in the last quarter. Ameriprise Financial Inc. raised its position in Glaukos by 3.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,999,252 shares of the medical instruments supplier’s stock valued at $206,503,000 after buying an additional 68,497 shares during the last quarter. Primecap Management Co. CA lifted its stake in Glaukos by 50.0% during the 2nd quarter. Primecap Management Co. CA now owns 1,827,998 shares of the medical instruments supplier’s stock valued at $188,814,000 after acquiring an additional 609,523 shares in the last quarter. Geode Capital Management LLC lifted its stake in Glaukos by 9.5% during the 2nd quarter. Geode Capital Management LLC now owns 1,330,593 shares of the medical instruments supplier’s stock valued at $137,454,000 after acquiring an additional 115,529 shares in the last quarter. Finally, Westfield Capital Management Co. LP boosted its holdings in Glaukos by 7.7% during the 2nd quarter. Westfield Capital Management Co. LP now owns 1,167,853 shares of the medical instruments supplier’s stock worth $120,628,000 after acquiring an additional 83,669 shares during the last quarter. 99.04% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on GKOS shares. Wall Street Zen downgraded shares of Glaukos from a “buy” rating to a “hold” rating in a report on Saturday. Truist Financial upped their price objective on shares of Glaukos from $120.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, December 18th. Citigroup lifted their target price on shares of Glaukos from $113.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. William Blair upgraded Glaukos to a “strong-buy” rating in a research note on Friday, January 30th. Finally, Stephens upped their target price on Glaukos from $115.00 to $145.00 and gave the company an “overweight” rating in a report on Friday, January 2nd. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $133.69.

Glaukos Price Performance

GKOS opened at $120.27 on Tuesday. Glaukos Corporation has a twelve month low of $73.16 and a twelve month high of $130.69. The company’s 50-day moving average price is $115.47 and its two-hundred day moving average price is $99.23. The stock has a market cap of $6.91 billion, a price-to-earnings ratio of -36.89 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 (NYSE:GKOS) last posted its quarterly 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 company had revenue of $143.12 million during the quarter, compared to the consensus estimate of $132.16 million. During the same period last year, the firm posted ($0.40) EPS. The company’s revenue for the quarter was up 35.6% compared to the same quarter last year. As a group, equities analysts expect that Glaukos Corporation will post -1.08 earnings per share for the current year.

Insider Transactions at Glaukos

In related news, Director Gilbert H. Kliman sold 5,000 shares of Glaukos stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $107.27, for a total value of $536,350.00. Following the completion of the sale, the director owned 34,905 shares of the company’s stock, valued at approximately $3,744,259.35. This trade represents a 12.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Marc Stapley sold 15,000 shares of the business’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $127.71, for a total value of $1,915,650.00. Following the completion of the sale, the director owned 37,449 shares in the company, valued at $4,782,611.79. This represents a 28.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 325,000 shares of company stock valued at $37,739,259. 6.40% of the stock is currently owned by 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.