Osterweis Capital Management Inc. Purchases Shares of 40,539 Glaukos Corporation $GKOS

Osterweis Capital Management Inc. acquired a new position in shares of Glaukos Corporation (NYSE:GKOS) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 40,539 shares of the medical instruments supplier’s stock, valued at approximately $5,666,000.

Other large investors have also modified their holdings of the company. Allworth Financial LP acquired a new stake in Glaukos during the 2nd quarter worth $28,000. Los Angeles Capital Management LLC acquired a new stake in shares of Glaukos in the 4th quarter valued at about $28,000. Larson Financial Group LLC grew its stake in Glaukos by 62.0% during the 4th quarter. Larson Financial Group LLC now owns 345 shares of the medical instruments supplier’s stock worth $39,000 after buying an additional 132 shares during the last quarter. Parallel Advisors LLC grew its stake in Glaukos by 159.2% during the 1st quarter. Parallel Advisors LLC now owns 368 shares of the medical instruments supplier’s stock worth $40,000 after buying an additional 226 shares during the last quarter. Finally, Farther Finance Advisors LLC increased 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 worth $46,000 after buying an additional 215 shares during the period. Institutional investors and hedge funds own 99.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Needham & Company LLC boosted their price objective on Glaukos from $150.00 to $201.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. HC Wainwright lifted their target price on shares of Glaukos from $168.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Citigroup upped their price target on shares of Glaukos from $175.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. William Blair reiterated an “outperform” rating on shares of Glaukos in a research note on Tuesday, May 26th. Finally, Wall Street Zen upgraded shares of Glaukos from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Twelve equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Glaukos has an average rating of “Moderate Buy” and an average target price of $178.08.

Insider Buying and Selling

In related news, COO Joseph E. Gilliam sold 60,000 shares of Glaukos 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 transaction, the chief operating officer directly owned 72,588 shares in the company, valued at $13,046,967.12. This trade represents a 45.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Alex R. Thurman sold 20,000 shares of the business’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $180.13, for a total transaction of $3,602,600.00. Following the completion of the transaction, the chief financial officer directly owned 43,906 shares in the company, valued at $7,908,787.78. This represents a 31.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 113,025 shares of company stock valued at $19,600,006 in the last ninety days. Company insiders own 5.90% of the company’s stock.

Glaukos Stock Down 2.2%

GKOS opened at $181.48 on Wednesday. Glaukos Corporation has a 52 week low of $73.16 and a 52 week high of $191.62. The business has a 50 day moving average price of $159.57 and a two-hundred day moving average price of $132.67. The company has a quick ratio of 4.46, a current ratio of 5.04 and a debt-to-equity ratio of 0.10. The company has a market cap of $10.70 billion, a PE ratio of -55.84 and a beta of 0.78.

Glaukos (NYSE:GKOS) last announced 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. The company had revenue of $185.61 million for the quarter, compared to the consensus estimate of $150.93 million. Glaukos had a negative return on equity of 6.37% and a negative net margin of 30.68%.The company’s revenue was up 49.6% on a year-over-year basis. During the same period last year, the business posted ($0.24) EPS. As a group, research analysts anticipate that Glaukos Corporation will post -0.32 EPS for the current year.

Glaukos 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.