Cinctive Capital Management LP Purchases Shares of 11,498 Glaukos Corporation $GKOS

Cinctive Capital Management LP acquired a new position in shares of Glaukos Corporation (NYSE:GKOS) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 11,498 shares of the medical instruments supplier’s stock, valued at approximately $938,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. California Public Employees Retirement System lifted its holdings in shares of Glaukos by 6.0% in the third quarter. California Public Employees Retirement System now owns 72,353 shares of the medical instruments supplier’s stock valued at $5,900,000 after purchasing an additional 4,076 shares in the last quarter. Bank of America Corp DE grew its holdings in Glaukos by 66.3% during the third quarter. Bank of America Corp DE now owns 474,930 shares of the medical instruments supplier’s stock worth $38,731,000 after buying an additional 189,284 shares in the last quarter. Boothbay Fund Management LLC purchased a new stake in Glaukos in the 3rd quarter valued at $302,000. Braidwell LP raised its position in Glaukos by 29.3% in the 3rd quarter. Braidwell LP now owns 780,164 shares of the medical instruments supplier’s stock valued at $63,622,000 after buying an additional 176,750 shares during the last quarter. Finally, Aquatic Capital Management LLC bought a new position in Glaukos during the 3rd quarter valued at $677,000. 99.04% of the stock is owned by hedge funds and other institutional investors.

Glaukos Stock Up 2.0%

Shares of NYSE:GKOS opened at $98.94 on Tuesday. Glaukos Corporation has a 1 year low of $73.16 and a 1 year high of $130.23. The company has a market capitalization of $5.75 billion, a PE ratio of -30.35 and a beta of 0.70. The business has a fifty day moving average price of $114.35 and a two-hundred day moving average price of $101.31. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.69 and a quick ratio of 4.06.

Glaukos (NYSE:GKOS) last released its earnings results on Tuesday, February 17th. The medical instruments supplier reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.06). The business had revenue of $143.12 million for the quarter, compared to the consensus estimate of $132.16 million. Glaukos had a negative return on equity of 7.00% and a negative net margin of 36.99%.The company’s revenue for the quarter was up 35.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.40) earnings per share. Analysts forecast that Glaukos Corporation will post -1.08 earnings per share for the current year.

Insider Activity at Glaukos

In other Glaukos news, Director Aimee S. Weisner sold 15,000 shares of Glaukos stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $117.38, for a total value of $1,760,700.00. Following the sale, the director owned 18,806 shares of the company’s stock, valued at approximately $2,207,448.28. The trade was a 44.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Marc Stapley sold 15,000 shares of the stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $127.71, for a total transaction of $1,915,650.00. Following the transaction, the director directly owned 37,449 shares of the company’s stock, valued at $4,782,611.79. This represents a 28.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 320,000 shares of company stock worth $37,202,909. 5.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on GKOS shares. UBS Group lifted their price objective on shares of Glaukos from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, December 23rd. Truist Financial raised their price target on shares of Glaukos from $120.00 to $145.00 and gave the company a “buy” rating in a research report on Thursday, December 18th. Wells Fargo & Company boosted their price target on shares of Glaukos from $122.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, February 18th. Wall Street Zen downgraded shares of Glaukos from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. Finally, Stephens increased their price objective on shares of Glaukos from $115.00 to $145.00 and gave the company an “overweight” rating in a research note on Friday, January 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $133.69.

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.