Louisiana State Employees Retirement System Makes New Investment in Glaukos Corporation $GKOS

Louisiana State Employees Retirement System acquired a new position in shares of Glaukos Corporation (NYSE:GKOS) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 25,500 shares of the medical instruments supplier’s stock, valued at approximately $2,745,000.

Other large investors also recently made changes to their positions in the company. AustralianSuper Pty Ltd lifted its position in Glaukos by 10.8% in the 3rd quarter. AustralianSuper Pty Ltd now owns 449,846 shares of the medical instruments supplier’s stock valued at $36,685,000 after acquiring an additional 43,750 shares in the last quarter. SG Americas Securities LLC increased its holdings in Glaukos by 460.8% during the 4th quarter. SG Americas Securities LLC now owns 60,232 shares of the medical instruments supplier’s stock worth $6,801,000 after purchasing an additional 49,492 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Glaukos by 32.8% during 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 in the last quarter. TD Asset Management Inc purchased a new stake in shares of Glaukos in the third quarter worth approximately $1,157,000. Finally, DNB Asset Management AS raised its stake in shares of Glaukos by 28.4% in the third quarter. DNB Asset Management AS now owns 73,550 shares of the medical instruments supplier’s stock worth $5,998,000 after purchasing an additional 16,267 shares during the last quarter. 99.04% of the stock is currently owned by institutional investors and hedge funds.

Glaukos Price Performance

GKOS stock opened at $144.37 on Monday. The firm has a 50 day moving average of $127.29 and a 200-day moving average of $118.21. The firm has a market capitalization of $8.48 billion, a P/E ratio of -44.02 and a beta of 0.83. Glaukos Corporation has a 12 month low of $73.16 and a 12 month high of $148.11. 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 announced its 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 net margin of 34.34% and a negative return on equity of 6.92%. The business had revenue of $150.57 million for the quarter, compared to the consensus estimate of $137.00 million. During the same period last year, the firm posted ($0.22) earnings per share. Glaukos’s quarterly revenue was up 41.2% on a year-over-year basis. As a group, sell-side analysts predict that Glaukos Corporation will post -0.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on GKOS shares. Wall Street Zen cut Glaukos from a “buy” rating to a “hold” rating in a research report on Sunday, June 21st. William Blair reissued an “outperform” rating on shares of Glaukos in a research report on Tuesday, May 26th. Stifel Nicolaus set a $170.00 price objective on Glaukos in a research note on Thursday, April 30th. Wells Fargo & Company raised their price target on shares of Glaukos from $135.00 to $138.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Glaukos from $120.00 to $140.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Twelve analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Glaukos currently has an average rating of “Moderate Buy” and a consensus target price of $149.17.

Insider Buying and Selling

In other news, Director Gilbert H. Kliman sold 5,000 shares of Glaukos stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $140.76, for a total transaction of $703,800.00. Following the sale, the director owned 35,528 shares of the company’s stock, valued at approximately $5,000,921.28. The trade was a 12.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Alex R. Thurman sold 10,000 shares of Glaukos 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 in the company, valued at approximately $6,115,340. The trade was a 18.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 41,273 shares of company stock valued at $5,832,003 over the last quarter. 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.