Glaukos Corporation $GKOS Shares Bought by Fifth Third Bancorp

Fifth Third Bancorp raised its holdings in Glaukos Corporation (NYSE:GKOS) by 318.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,533 shares of the medical instruments supplier’s stock after purchasing an additional 12,578 shares during the quarter. Fifth Third Bancorp’s holdings in Glaukos were worth $1,780,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of GKOS. Smartleaf Asset Management LLC raised its holdings in Glaukos by 9.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,383 shares of the medical instruments supplier’s stock valued at $158,000 after buying an additional 122 shares during the period. Larson Financial Group LLC increased its position in shares of Glaukos by 62.0% during the fourth quarter. Larson Financial Group LLC now owns 345 shares of the medical instruments supplier’s stock valued at $39,000 after acquiring an additional 132 shares during the last quarter. CWM LLC raised its stake in shares of Glaukos by 25.2% in the 4th quarter. CWM LLC now owns 710 shares of the medical instruments supplier’s stock valued at $80,000 after acquiring an additional 143 shares during the period. Commonwealth Equity Services LLC raised its stake in shares of Glaukos by 1.7% in the 4th quarter. Commonwealth Equity Services LLC now owns 8,383 shares of the medical instruments supplier’s stock valued at $947,000 after acquiring an additional 144 shares during the period. Finally, Evergreen Capital Management LLC lifted its holdings in shares of Glaukos by 4.3% in the 4th quarter. Evergreen Capital Management LLC now owns 3,549 shares of the medical instruments supplier’s stock worth $401,000 after acquiring an additional 145 shares during the last quarter. Institutional investors and hedge funds own 99.04% of the company’s stock.

Insider Activity

In other Glaukos news, CFO Alex R. Thurman sold 10,000 shares of the stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $140.00, for a total value of $1,400,000.00. Following the sale, the chief financial officer directly owned 43,681 shares of the company’s stock, valued at approximately $6,115,340. This represents a 18.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Leana Wen sold 1,700 shares of the firm’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $143.35, for a total transaction of $243,695.00. Following the completion of the sale, the director owned 19,739 shares in the company, valued at $2,829,585.65. The trade was a 7.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 61,273 shares of company stock worth $8,882,003. Insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on GKOS. Stifel Nicolaus lifted their target price on shares of Glaukos from $170.00 to $175.00 and gave the company a “buy” rating in a report on Friday, July 17th. HC Wainwright initiated coverage on Glaukos in a research report on Monday, July 6th. They set a “buy” rating and a $168.00 price target for the company. Needham & Company LLC lifted their price objective on Glaukos from $136.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, June 17th. Truist Financial increased their target price on Glaukos from $160.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday, July 16th. Finally, JPMorgan Chase & Co. raised their target price on Glaukos from $120.00 to $140.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Thirteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $154.85.

Glaukos Stock Down 0.2%

Shares of NYSE GKOS opened at $152.81 on Thursday. The stock has a market cap of $8.98 billion, a P/E ratio of -46.59 and a beta of 0.75. The business’s fifty day simple moving average is $135.45 and its 200-day simple moving average is $122.94. Glaukos Corporation has a 12-month low of $73.16 and a 12-month high of $161.53. 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 earnings results on Wednesday, April 29th. The medical instruments supplier reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.12. The firm had revenue of $150.57 million during the quarter, compared to analysts’ expectations of $137.00 million. Glaukos had a negative return on equity of 6.92% and a negative net margin of 34.34%.Glaukos’s revenue for the quarter was up 41.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.22) EPS. As a group, equities analysts predict that Glaukos Corporation will post -0.57 EPS for the current fiscal year.

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.