Handelsbanken Fonder AB Trims Stock Position in Glaukos Corporation $GKOS

Handelsbanken Fonder AB reduced its stake in Glaukos Corporation (NYSE:GKOS) by 16.8% during the 2nd quarter, HoldingsChannel reports. The firm owned 15,300 shares of the medical instruments supplier’s stock after selling 3,100 shares during the period. Handelsbanken Fonder AB’s holdings in Glaukos were worth $1,580,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Westfield Capital Management Co. LP lifted its holdings in shares of Glaukos by 7.7% during the second quarter. Westfield Capital Management Co. LP now owns 1,167,853 shares of the medical instruments supplier’s stock worth $120,628,000 after purchasing an additional 83,669 shares during the period. Ensign Peak Advisors Inc increased its stake in Glaukos by 20.2% in the 2nd quarter. Ensign Peak Advisors Inc now owns 51,429 shares of the medical instruments supplier’s stock valued at $5,312,000 after buying an additional 8,645 shares during the period. Primecap Management Co. CA raised its position in Glaukos by 50.0% during the 2nd quarter. Primecap Management Co. CA now owns 1,827,998 shares of the medical instruments supplier’s stock worth $188,814,000 after buying an additional 609,523 shares during the last quarter. Inspire Advisors LLC acquired a new stake in shares of Glaukos in the 2nd quarter worth $208,000. Finally, Creative Planning boosted its holdings in shares of Glaukos by 28.8% in the second quarter. Creative Planning now owns 18,368 shares of the medical instruments supplier’s stock valued at $1,897,000 after acquiring an additional 4,105 shares in the last quarter. Institutional investors and hedge funds own 99.04% of the company’s stock.

Insider Activity

In related news, CFO Alex R. Thurman sold 315 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $105.00, for a total transaction of $33,075.00. Following the completion of the transaction, the chief financial officer owned 50,488 shares of the company’s stock, valued at approximately $5,301,240. This represents a 0.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Joseph E. Gilliam sold 19,340 shares of Glaukos stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $90.00, for a total transaction of $1,740,600.00. Following the completion of the transaction, the chief operating officer owned 92,366 shares in the company, valued at approximately $8,312,940. This trade represents a 17.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 5.80% of the stock is owned by insiders.

Glaukos Trading Up 1.1%

Shares of GKOS opened at $105.53 on Thursday. Glaukos Corporation has a fifty-two week low of $73.16 and a fifty-two week high of $163.71. The company has a market capitalization of $6.06 billion, a PE ratio of -68.53 and a beta of 0.81. The stock has a fifty day moving average of $85.97 and a two-hundred day moving average of $91.71. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.69 and a current ratio of 5.51.

Glaukos (NYSE:GKOS) last announced its quarterly earnings data on Wednesday, October 29th. The medical instruments supplier reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.11. The business had revenue of $133.54 million during the quarter, compared to the consensus estimate of $122.55 million. Glaukos had a negative return on equity of 7.53% and a negative net margin of 18.65%.The business’s revenue for the quarter was up 38.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.28) earnings per share. Glaukos has set its FY 2025 guidance at EPS. As a group, analysts forecast that Glaukos Corporation will post -1.08 EPS for the current year.

Wall Street Analysts Forecast Growth

GKOS has been the subject of several analyst reports. The Goldman Sachs Group assumed coverage on shares of Glaukos in a report on Wednesday, October 1st. They set a “buy” rating and a $103.00 price target for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Glaukos in a research note on Wednesday, October 8th. Wells Fargo & Company raised their price target on Glaukos from $120.00 to $122.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Needham & Company LLC upped their price objective on Glaukos from $115.00 to $117.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Finally, JPMorgan Chase & Co. raised their target price on Glaukos from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $119.08.

About Glaukos

Glaukos Corporation, an ophthalmic pharmaceutical and medical technology company, focuses on the development of novel therapies for the treatment of glaucoma, corneal disorders, and retinal diseases. It offers iStent and iStent inject W micro-bypass stents that enhance aqueous humor outflow inserted in cataract surgery to treat mild-to-moderate open-angle glaucoma.