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

Summit Global Investments purchased a new position in Glaukos Corporation (NYSE:GKOS) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 4,149 shares of the medical instruments supplier’s stock, valued at approximately $580,000.

A number of other institutional investors have also recently made changes to their positions in the stock. First Horizon Corp lifted its holdings in shares of Glaukos by 1,715.4% during the 4th quarter. First Horizon Corp now owns 236 shares of the medical instruments supplier’s stock worth $27,000 after acquiring an additional 223 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in Glaukos in the fourth quarter valued at $28,000. Larson Financial Group LLC increased its stake in Glaukos by 62.0% in the fourth quarter. Larson Financial Group LLC now owns 345 shares of the medical instruments supplier’s stock valued at $39,000 after acquiring an additional 132 shares during the last quarter. Parallel Advisors LLC increased its stake in Glaukos by 159.2% in the first quarter. Parallel Advisors LLC now owns 368 shares of the medical instruments supplier’s stock valued at $40,000 after acquiring an additional 226 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its position in Glaukos by 111.4% during the fourth quarter. Farther Finance Advisors LLC now owns 408 shares of the medical instruments supplier’s stock valued at $46,000 after purchasing an additional 215 shares in the last quarter. Institutional investors own 99.04% of the company’s stock.

Glaukos Stock Down 2.3%

GKOS opened at $185.01 on Friday. Glaukos Corporation has a 12 month low of $73.16 and a 12 month high of $190.00. 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 business’s 50-day moving average price is $151.24 and its 200-day moving average price is $129.36. The company has a market cap of $10.91 billion, a P/E ratio of -56.93 and a beta of 0.78.

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on GKOS shares. Truist Financial upped their price objective on Glaukos from $180.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Glaukos in a research report on Friday, July 17th. Needham & Company LLC upped their target price on Glaukos from $150.00 to $201.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. UBS Group began coverage on shares of Glaukos in a research report on Tuesday, July 28th. They set a “neutral” rating and a $150.00 price target on the stock. Finally, William Blair reissued an “outperform” rating on shares of Glaukos in a research note on Tuesday, May 26th. Twelve research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Glaukos presently has an average rating of “Moderate Buy” and an average target price of $177.33.

Insider Buying and Selling

In other Glaukos news, COO Joseph E. Gilliam sold 60,000 shares of the firm’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $179.74, for a total value 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. This trade represents a 45.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Alex R. Thurman sold 20,000 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $180.13, for a total transaction of $3,602,600.00. Following the completion of the sale, the chief financial officer directly owned 43,906 shares in the company, valued at approximately $7,908,787.78. This trade represents a 31.30% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 110,525 shares of company stock valued at $19,125,006 over the last three months. 5.90% of the stock is owned by company insiders.

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.