WCM Investment Management LLC Has $9.81 Million Stake in Glaukos Corporation $GKOS

WCM Investment Management LLC trimmed its stake in Glaukos Corporation (NYSE:GKOS) by 4.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 93,427 shares of the medical instruments supplier’s stock after selling 3,940 shares during the quarter. WCM Investment Management LLC’s holdings in Glaukos were worth $9,811,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. Parallel Advisors LLC increased its stake in Glaukos by 159.2% in the 1st quarter. Parallel Advisors LLC now owns 368 shares of the medical instruments supplier’s stock valued at $40,000 after buying an additional 226 shares during the period. Swiss National Bank lifted its position in Glaukos by 0.4% in the 1st quarter. Swiss National Bank now owns 113,600 shares of the medical instruments supplier’s stock worth $12,230,000 after buying an additional 500 shares in the last quarter. Jennison Associates LLC purchased a new stake in Glaukos in the 1st quarter worth approximately $52,433,000. Zhang Financial LLC boosted its stake in shares of Glaukos by 2.7% during the 1st quarter. Zhang Financial LLC now owns 23,586 shares of the medical instruments supplier’s stock valued at $2,539,000 after buying an additional 623 shares during the period. Finally, Assetmark Inc. boosted its stake in shares of Glaukos by 110,488.4% during the 1st quarter. Assetmark Inc. now owns 76,306 shares of the medical instruments supplier’s stock valued at $8,215,000 after buying an additional 76,237 shares during the period. 99.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on GKOS shares. Wall Street Zen downgraded shares of Glaukos from a “buy” rating to a “hold” rating in a research note on Saturday. Citigroup lifted their price objective on Glaukos from $162.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Piper Sandler reissued an “overweight” rating and set a $165.00 price objective on shares of Glaukos in a research report on Wednesday, July 1st. Wells Fargo & Company boosted their target price on Glaukos from $135.00 to $138.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Finally, Truist Financial upped their target price on Glaukos from $160.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. Thirteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Glaukos has a consensus rating of “Moderate Buy” and a consensus price target of $154.85.

Glaukos Stock Performance

Shares of GKOS opened at $155.54 on Tuesday. The company has a market capitalization of $9.13 billion, a PE ratio of -47.42 and a beta of 0.75. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.43 and a quick ratio of 4.73. Glaukos Corporation has a one year low of $73.16 and a one year high of $161.53. The company’s fifty day moving average price is $134.80 and its 200 day moving average price is $122.38.

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

Insider Activity at Glaukos

In other news, Director Leana Wen sold 1,700 shares of the firm’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $143.35, for a total value of $243,695.00. Following the sale, the director owned 19,739 shares in the company, valued at approximately $2,829,585.65. This trade represents a 7.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Gilbert H. Kliman sold 5,000 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $140.76, for a total transaction of $703,800.00. Following the transaction, the director directly owned 35,528 shares in the company, valued at $5,000,921.28. This trade represents a 12.34% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 61,273 shares of company stock worth $8,882,003. Insiders own 5.90% of the company’s stock.

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.