Assetmark Inc. Grows Stake in Glaukos Corporation $GKOS

Assetmark Inc. grew its stake in shares of Glaukos Corporation (NYSE:GKOS) by 110,488.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 76,306 shares of the medical instruments supplier’s stock after acquiring an additional 76,237 shares during the period. Assetmark Inc. owned about 0.13% of Glaukos worth $8,215,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Wellington Management Group LLP raised its stake in shares of Glaukos by 10.4% in the third quarter. Wellington Management Group LLP now owns 3,580,670 shares of the medical instruments supplier’s stock valued at $292,004,000 after buying an additional 336,266 shares during the period. Primecap Management Co. CA grew its stake in shares of Glaukos by 49.8% during the 4th quarter. Primecap Management Co. CA now owns 3,376,928 shares of the medical instruments supplier’s stock worth $381,289,000 after acquiring an additional 1,123,140 shares during the period. Janus Henderson Group PLC grew its stake in shares of Glaukos by 183.4% during the 4th quarter. Janus Henderson Group PLC now owns 3,018,787 shares of the medical instruments supplier’s stock worth $340,855,000 after acquiring an additional 1,953,578 shares during the period. State Street Corp increased its holdings in Glaukos by 0.9% in the 4th quarter. State Street Corp now owns 2,122,402 shares of the medical instruments supplier’s stock worth $239,640,000 after acquiring an additional 18,040 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its holdings 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 worth $206,503,000 after acquiring an additional 68,497 shares during the last quarter. Hedge funds and other institutional investors own 99.04% of the company’s stock.

Glaukos Trading Down 0.8%

Shares of Glaukos stock opened at $155.54 on Tuesday. Glaukos Corporation has a 12-month low of $73.16 and a 12-month high of $161.53. The company has a market cap of $9.13 billion, a price-to-earnings ratio of -47.42 and a beta of 0.75. The company has a current ratio of 5.43, a quick ratio of 4.73 and a debt-to-equity ratio of 0.10. The company’s 50-day moving average price is $134.80 and its 200-day moving average price is $122.38.

Glaukos (NYSE:GKOS) last issued its quarterly earnings data on Wednesday, April 29th. The medical instruments supplier reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.12. Glaukos had a negative net margin of 34.34% and a negative return on equity of 6.92%. The company had revenue of $150.57 million during the quarter, compared to analysts’ expectations of $137.00 million. During the same quarter in the previous year, the company earned ($0.22) earnings per share. Glaukos’s revenue for the quarter was up 41.2% on a year-over-year basis. On average, equities analysts expect that Glaukos Corporation will post -0.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. HC Wainwright initiated coverage on shares of Glaukos in a report on Monday, July 6th. They set a “buy” rating and a $168.00 price objective on the stock. Truist Financial lifted their target price on shares of Glaukos from $160.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday, July 16th. Needham & Company LLC upped their price target on shares of Glaukos from $136.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, June 17th. Citigroup raised their price objective on shares of Glaukos from $162.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Finally, William Blair reiterated an “outperform” rating on shares of Glaukos in a research note on Tuesday, May 26th. Thirteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $154.85.

Insider Activity

In related news, Director Gilbert H. Kliman sold 5,000 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $140.76, for a total transaction of $703,800.00. Following the completion of the transaction, the director directly owned 35,528 shares in the company, valued at $5,000,921.28. The trade was a 12.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Joseph E. Gilliam sold 19,573 shares of the company’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $143.54, for a total value of $2,809,508.42. Following the completion of the transaction, the chief operating officer owned 73,419 shares in the company, valued at $10,538,563.26. This represents a 21.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 61,273 shares of company stock worth $8,882,003. Company insiders own 5.90% of the company’s stock.

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.