Envestnet Asset Management Inc. Boosts Stake in Glaukos Corporation $GKOS

Envestnet Asset Management Inc. increased its stake in Glaukos Corporation (NYSE:GKOS) by 72.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 48,439 shares of the medical instruments supplier’s stock after purchasing an additional 20,401 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Glaukos were worth $5,003,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of GKOS. Park Place Capital Corp increased its position in Glaukos by 68.4% in the second quarter. Park Place Capital Corp now owns 399 shares of the medical instruments supplier’s stock worth $41,000 after buying an additional 162 shares in the last quarter. AlphaQuest LLC grew its stake in shares of Glaukos by 5,754.5% during the 2nd quarter. AlphaQuest LLC now owns 644 shares of the medical instruments supplier’s stock valued at $67,000 after acquiring an additional 633 shares during the period. Bayforest Capital Ltd purchased a new stake in Glaukos in the 1st quarter worth approximately $141,000. Revisor Wealth Management LLC bought a new stake in Glaukos during the 2nd quarter worth approximately $204,000. Finally, Arrowpoint Investment Partners Singapore Pte. Ltd. bought a new stake in Glaukos during the 1st quarter worth approximately $207,000. Institutional investors own 99.04% of the company’s stock.

Glaukos Stock Down 1.1%

Shares of GKOS opened at $91.59 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 5.51 and a quick ratio of 4.69. The stock has a market capitalization of $5.26 billion, a price-to-earnings ratio of -59.47 and a beta of 0.81. Glaukos Corporation has a 1 year low of $73.16 and a 1 year high of $163.71. The business’s 50 day simple moving average is $84.18 and its 200-day simple moving average is $91.26.

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

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Zacks Research lowered shares of Glaukos from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Glaukos in a report 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 boosted their price objective on Glaukos from $115.00 to $117.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Finally, BTIG Research increased their target price on Glaukos from $104.00 to $116.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $119.08.

Glaukos Profile

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.