Bessemer Group Inc. Sells 5,880 Shares of Glaukos Corporation $GKOS

Bessemer Group Inc. cut its position in Glaukos Corporation (NYSE:GKOS) by 62.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,573 shares of the medical instruments supplier’s stock after selling 5,880 shares during the quarter. Bessemer Group Inc.’s holdings in Glaukos were worth $385,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in GKOS. Wellington Management Group LLP boosted its holdings in shares of Glaukos by 10.4% in the 3rd quarter. Wellington Management Group LLP now owns 3,580,670 shares of the medical instruments supplier’s stock valued at $292,004,000 after purchasing an additional 336,266 shares in the last quarter. Primecap Management Co. CA raised its holdings 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 buying an additional 1,123,140 shares in the last quarter. Janus Henderson Group PLC lifted its position 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 buying an additional 1,953,578 shares during the last quarter. State Street Corp lifted its position in shares of Glaukos by 0.9% during the 4th quarter. State Street Corp now owns 2,122,402 shares of the medical instruments supplier’s stock worth $239,640,000 after buying an additional 18,040 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in Glaukos by 3.5% in the second 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 in the last quarter. Institutional investors own 99.04% of the company’s stock.

Wall Street Analysts Forecast Growth

GKOS has been the subject of several research analyst reports. William Blair reissued an “outperform” rating on shares of Glaukos in a research note on Tuesday, May 26th. BTIG Research restated a “buy” rating and issued a $164.00 price target on shares of Glaukos in a research note on Monday, July 13th. Stifel Nicolaus upped their price objective on shares of Glaukos from $170.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, July 17th. Citigroup upped their price objective on shares of Glaukos from $162.00 to $175.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Glaukos in a research report on Friday, July 17th. Thirteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Glaukos presently has a consensus rating of “Moderate Buy” and a consensus price target of $154.85.

Glaukos Stock Performance

Shares of GKOS stock opened at $153.40 on Friday. The business’s 50-day moving average price is $135.85 and its 200-day moving average price is $123.44. Glaukos Corporation has a 12 month low of $73.16 and a 12 month high of $161.53. The firm has a market capitalization of $9.01 billion, a price-to-earnings ratio of -46.77 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.

Glaukos (NYSE:GKOS) last released its quarterly earnings data on Wednesday, April 29th. The medical instruments supplier reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $150.57 million during the quarter, compared to the consensus estimate of $137.00 million. During the same quarter in the prior year, the firm posted ($0.22) earnings per share. The firm’s revenue was up 41.2% compared to the same quarter last year. Equities research analysts forecast that Glaukos Corporation will post -0.57 EPS for the current year.

Insider Buying and Selling at Glaukos

In related news, Director Leana Wen sold 1,700 shares of the business’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $143.35, for a total value of $243,695.00. Following the sale, the director owned 19,739 shares of the company’s stock, valued at $2,829,585.65. The trade was a 7.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Gilbert H. Kliman sold 5,000 shares of the stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $140.76, for a total value of $703,800.00. Following the completion of the sale, the director owned 35,528 shares of the company’s stock, valued at $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 sold a total of 61,273 shares of company stock worth $8,882,003 over the last ninety days. Insiders own 5.90% 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.