California Public Employees Retirement System Cuts Holdings in Glaukos Corporation $GKOS

California Public Employees Retirement System trimmed its holdings in shares of Glaukos Corporation (NYSE:GKOS) by 5.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,654 shares of the medical instruments supplier’s stock after selling 3,686 shares during the period. California Public Employees Retirement System owned about 0.12% of Glaukos worth $7,391,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. SG Americas Securities LLC raised its holdings in Glaukos by 460.8% in the fourth quarter. SG Americas Securities LLC now owns 60,232 shares of the medical instruments supplier’s stock valued at $6,801,000 after acquiring an additional 49,492 shares in the last quarter. Stephens Inc. AR bought a new position in Glaukos in the first quarter worth about $363,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Glaukos by 32.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 355,279 shares of the medical instruments supplier’s stock worth $39,336,000 after purchasing an additional 87,781 shares during the last quarter. Capricorn Fund Managers Ltd bought a new stake in shares of Glaukos in the 4th quarter worth approximately $6,775,000. Finally, DNB Asset Management AS boosted its position in Glaukos by 11.9% during the 4th quarter. DNB Asset Management AS now owns 82,320 shares of the medical instruments supplier’s stock valued at $9,295,000 after purchasing an additional 8,770 shares during the period. Hedge funds and other institutional investors own 99.04% of the company’s stock.

Insider Transactions at Glaukos

In other Glaukos news, 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 transaction, the chief operating officer directly owned 73,419 shares of the company’s stock, valued at $10,538,563.26. This represents a 21.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gilbert H. Kliman sold 5,000 shares of the company’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $140.76, for a total value of $703,800.00. Following the completion of the transaction, the director directly owned 35,528 shares in the company, valued at approximately $5,000,921.28. The trade was a 12.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 61,273 shares of company stock valued at $8,882,003 in the last three months. 5.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on GKOS. Wells Fargo & Company upped their price objective on Glaukos from $135.00 to $138.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. William Blair reissued an “outperform” rating on shares of Glaukos in a report on Tuesday, May 26th. Weiss Ratings restated a “sell (d-)” rating on shares of Glaukos in a research report on Friday, July 17th. Needham & Company LLC increased their price objective on shares of Glaukos from $136.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, June 17th. Finally, BTIG Research reiterated a “buy” rating and issued a $164.00 price objective on shares of Glaukos in a research report on Monday, July 13th. Thirteen 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $154.85.

Glaukos Price Performance

Shares of NYSE GKOS opened at $153.40 on Monday. Glaukos Corporation has a twelve month low of $73.16 and a twelve month high of $161.53. The company has a market capitalization of $9.01 billion, a price-to-earnings ratio of -46.77 and a beta of 0.75. The firm has a 50-day moving average of $135.85 and a two-hundred day moving average of $123.52. The company has a current ratio of 5.43, a quick ratio of 4.73 and a debt-to-equity ratio of 0.10.

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

Glaukos Company 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.