Summit Global Investments Purchases Shares of 4,149 Glaukos Corporation $GKOS

Summit Global Investments acquired a new position in Glaukos Corporation (NYSE:GKOS) in the 2nd quarter, HoldingsChannel reports. The firm acquired 4,149 shares of the medical instruments supplier’s stock, valued at approximately $580,000.

Other large investors have also recently made changes to their positions in the company. Janus Henderson Group PLC increased its stake in shares of Glaukos by 77.2% during the first quarter. Janus Henderson Group PLC now owns 5,348,395 shares of the medical instruments supplier’s stock valued at $575,844,000 after buying an additional 2,329,608 shares during the period. Primecap Management Co. CA lifted its stake in Glaukos by 49.8% in the fourth 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. Goldman Sachs Group Inc. boosted its holdings in Glaukos by 209.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,350,425 shares of the medical instruments supplier’s stock valued at $152,476,000 after acquiring an additional 913,458 shares in the last quarter. Millennium Management LLC boosted its holdings in Glaukos by 75.3% in the fourth quarter. Millennium Management LLC now owns 1,609,699 shares of the medical instruments supplier’s stock valued at $181,751,000 after acquiring an additional 691,289 shares in the last quarter. Finally, UBS Group AG increased its position in Glaukos by 316.0% during the 4th quarter. UBS Group AG now owns 873,942 shares of the medical instruments supplier’s stock valued at $98,677,000 after purchasing an additional 663,849 shares during the period. 99.04% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Stifel Nicolaus upped their price objective on shares of Glaukos from $175.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. BTIG Research boosted their price target on shares of Glaukos from $164.00 to $193.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. William Blair reiterated an “outperform” rating on shares of Glaukos in a research report on Tuesday, May 26th. Wall Street Zen raised shares of Glaukos from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Finally, Citigroup raised their price objective on shares of Glaukos from $175.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Twelve analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $177.33.

Insider Activity at Glaukos

In related news, COO Joseph E. Gilliam sold 60,000 shares of the business’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $179.74, for a total transaction of $10,784,400.00. Following the sale, the chief operating officer owned 72,588 shares of the company’s stock, valued at $13,046,967.12. The trade was a 45.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Leana Wen sold 525 shares of the company’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $167.63, for a total transaction of $88,005.75. Following the completion of the sale, the director owned 21,092 shares in the company, valued at approximately $3,535,651.96. This trade represents a 2.43% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 110,525 shares of company stock valued at $19,125,006 in the last three months. Company insiders own 5.90% of the company’s stock.

Glaukos Price Performance

GKOS opened at $185.01 on Friday. The company has a current ratio of 5.04, a quick ratio of 4.46 and a debt-to-equity ratio of 0.10. The company has a market cap of $10.91 billion, a price-to-earnings ratio of -56.93 and a beta of 0.78. The stock has a fifty day simple moving average of $151.24 and a two-hundred day simple moving average of $129.36. Glaukos Corporation has a 12-month low of $73.16 and a 12-month high of $190.00.

Glaukos (NYSE:GKOS) last announced its earnings results on Wednesday, July 29th. The medical instruments supplier reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.07. The firm had revenue of $185.61 million for the quarter, compared to analysts’ expectations of $150.93 million. Glaukos had a negative net margin of 30.68% and a negative return on equity of 6.37%. The company’s quarterly revenue was up 49.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.24) EPS. Research analysts predict that Glaukos Corporation will post -0.35 earnings per share for the current fiscal year.

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.