Royal Bank of Canada Acquires 12,253 Shares of Glaukos Corporation $GKOS

Royal Bank of Canada increased its holdings in Glaukos Corporation (NYSE:GKOS) by 6.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 204,153 shares of the medical instruments supplier’s stock after purchasing an additional 12,253 shares during the period. Royal Bank of Canada’s holdings in Glaukos were worth $21,979,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GKOS. Wellington Management Group LLP grew its holdings in 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 valued at $292,004,000 after buying an additional 336,266 shares in the last quarter. Primecap Management Co. CA lifted its holdings in shares of 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 buying an additional 1,123,140 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of Glaukos by 183.4% during the fourth quarter. Janus Henderson Group PLC now owns 3,018,787 shares of the medical instruments supplier’s stock worth $340,855,000 after acquiring an additional 1,953,578 shares during the last quarter. State Street Corp boosted its position in shares of Glaukos by 0.9% during the fourth quarter. State Street Corp now owns 2,122,402 shares of the medical instruments supplier’s stock worth $239,640,000 after acquiring an additional 18,040 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake in Glaukos by 3.5% during the second 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 in the last quarter. 99.04% of the stock is currently owned by institutional investors.

Glaukos Price Performance

GKOS stock opened at $170.60 on Thursday. The stock has a market cap of $10.06 billion, a PE ratio of -52.49 and a beta of 0.78. Glaukos Corporation has a 12 month low of $73.16 and a 12 month high of $184.00. The company has a 50-day moving average price of $141.42 and a 200 day moving average price of $126.46. The company has a current ratio of 5.04, a quick ratio of 4.46 and a debt-to-equity ratio of 0.10.

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

Wall Street Analysts Forecast Growth

Several brokerages have commented on GKOS. William Blair reiterated an “outperform” rating on shares of Glaukos in a research note on Tuesday, May 26th. UBS Group began coverage on Glaukos in a research report on Tuesday, July 28th. They set a “neutral” rating and a $150.00 price objective for the company. Piper Sandler reaffirmed an “overweight” rating and issued a $195.00 target price (up from $165.00) on shares of Glaukos in a report on Thursday, July 30th. JPMorgan Chase & Co. boosted their target price on Glaukos from $120.00 to $140.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Finally, Citigroup raised their price target on Glaukos from $175.00 to $188.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Twelve analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Glaukos currently has a consensus rating of “Moderate Buy” and a consensus price target of $177.33.

Insider Transactions at Glaukos

In related news, CFO Alex R. Thurman sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 16th. The stock was sold at an average price of $160.00, for a total transaction of $1,600,000.00. Following the completion of the sale, the chief financial officer directly owned 43,906 shares of the company’s stock, valued at approximately $7,024,960. This trade represents a 18.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gilbert H. Kliman sold 5,000 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $140.76, for a total value of $703,800.00. Following the transaction, the director owned 35,528 shares of the company’s stock, valued at approximately $5,000,921.28. The trade was a 12.34% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 40,525 shares of company stock worth $6,116,806. 5.90% of the stock is currently owned by company insiders.

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.