Legato Capital Management LLC Purchases New Position in Glaukos Corporation $GKOS

Legato Capital Management LLC bought a new position in shares of Glaukos Corporation (NYSE:GKOS) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,700 shares of the medical instruments supplier’s stock, valued at approximately $756,000.

Several other large investors have also made changes to their positions in the company. Wellington Management Group LLP boosted its position in shares of Glaukos by 10.4% during the 3rd quarter. Wellington Management Group LLP now owns 3,580,670 shares of the medical instruments supplier’s stock worth $292,004,000 after acquiring an additional 336,266 shares in the last quarter. Primecap Management Co. CA increased its position in Glaukos by 23.3% in the 3rd quarter. Primecap Management Co. CA now owns 2,253,788 shares of the medical instruments supplier’s stock valued at $183,796,000 after acquiring an additional 425,790 shares during the period. State Street Corp increased its position in Glaukos by 5.3% in the 2nd quarter. State Street Corp now owns 2,090,365 shares of the medical instruments supplier’s stock valued at $215,914,000 after acquiring an additional 105,972 shares during the period. Ameriprise Financial Inc. increased its position in Glaukos by 3.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,999,252 shares of the medical instruments supplier’s stock valued at $206,503,000 after acquiring an additional 68,497 shares during the period. Finally, Alliancebernstein L.P. increased its position in shares of Glaukos by 38.5% during the third quarter. Alliancebernstein L.P. now owns 1,733,474 shares of the medical instruments supplier’s stock worth $141,365,000 after buying an additional 481,620 shares during the period. Institutional investors and hedge funds own 99.04% of the company’s stock.

Glaukos Stock Performance

Shares of GKOS stock opened at $120.95 on Tuesday. The firm has a market cap of $7.10 billion, a price-to-earnings ratio of -36.88 and a beta of 0.94. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.73 and a current ratio of 5.43. Glaukos Corporation has a 52 week low of $73.16 and a 52 week high of $148.11. The firm’s 50-day simple moving average is $120.66 and its two-hundred day simple moving average is $113.77.

Glaukos (NYSE:GKOS) last posted its earnings results on Wednesday, April 29th. The medical instruments supplier reported ($0.18) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.12. The firm had revenue of $150.57 million during the quarter, compared to the consensus estimate of $137.00 million. Glaukos had a negative net margin of 34.34% and a negative return on equity of 6.92%. The company’s revenue was up 41.2% on a year-over-year basis. During the same quarter last year, the company earned ($0.22) earnings per share. As a group, equities analysts forecast that Glaukos Corporation will post -0.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

GKOS has been the subject of several recent analyst reports. Wells Fargo & Company increased their price objective on shares of Glaukos from $135.00 to $138.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Wall Street Zen upgraded shares of Glaukos from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. JPMorgan Chase & Co. raised their price target on shares of Glaukos from $120.00 to $140.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Needham & Company LLC raised their price target on shares of Glaukos from $127.00 to $136.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Finally, BTIG Research raised their price target on shares of Glaukos from $141.00 to $162.00 and gave the stock a “buy” rating in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $146.17.

Insider Activity

In other Glaukos news, Director Gilbert H. Kliman sold 5,000 shares of Glaukos stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $140.76, for a total transaction of $703,800.00. Following the completion of the sale, the director directly owned 35,528 shares in the company, valued at $5,000,921.28. The trade was a 12.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Leana Wen sold 1,700 shares of Glaukos stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $143.35, for a total transaction of $243,695.00. Following the sale, the director owned 19,739 shares of the company’s stock, valued at approximately $2,829,585.65. The trade was a 7.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 45,930 shares of company stock worth $6,321,363 in the last three months. Insiders own 5.90% of the company’s stock.

Glaukos Company 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.