Jupiter Topco LLC Makes New Investment in Glaukos Corporation $GKOS

Jupiter Topco LLC bought a new position in Glaukos Corporation (NYSE:GKOS) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 4,862,894 shares of the medical instruments supplier’s stock, valued at approximately $679,614,000. Jupiter Topco LLC owned 0.08% of Glaukos at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. AQR Capital Management LLC boosted its stake in shares of Glaukos by 2.6% in the 1st quarter. AQR Capital Management LLC now owns 7,788 shares of the medical instruments supplier’s stock worth $766,000 after buying an additional 198 shares during the last quarter. Jones Financial Companies Lllp increased its position in Glaukos by 1,405.9% during the first quarter. Jones Financial Companies Lllp now owns 2,560 shares of the medical instruments supplier’s stock valued at $252,000 after acquiring an additional 2,390 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Glaukos by 41.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 229,994 shares of the medical instruments supplier’s stock valued at $22,636,000 after acquiring an additional 67,668 shares during the period. M&T Bank Corp bought a new position in Glaukos in the second quarter valued at about $203,000. Finally, Gamco Investors INC. ET AL boosted its position in Glaukos by 10.7% in the second quarter. Gamco Investors INC. ET AL now owns 8,001 shares of the medical instruments supplier’s stock worth $826,000 after purchasing an additional 773 shares during the last quarter. Institutional investors own 99.04% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on GKOS. Truist Financial upped their price target on shares of Glaukos from $180.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Wall Street Zen upgraded shares of Glaukos from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Needham & Company LLC upped their target price on shares of Glaukos from $150.00 to $201.00 and gave the company a “buy” rating in a report on Thursday, July 30th. JPMorgan Chase & Co. increased their price target on shares of Glaukos from $120.00 to $140.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Finally, Wells Fargo & Company boosted their price objective on shares of Glaukos from $138.00 to $178.00 and gave the company an “overweight” rating in a research report on Thursday, July 30th. Twelve research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $178.08.

Glaukos Stock Performance

Shares of NYSE GKOS opened at $181.48 on Wednesday. The firm has a fifty day moving average price of $159.57 and a 200-day moving average price of $132.67. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.04 and a quick ratio of 4.46. The stock has a market cap of $10.70 billion, a PE ratio of -55.84 and a beta of 0.78. Glaukos Corporation has a 1 year low of $73.16 and a 1 year high of $191.62.

Glaukos (NYSE:GKOS) last released its earnings results on Wednesday, July 29th. The medical instruments supplier reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.07. The company had revenue of $185.61 million for the quarter, compared to analysts’ expectations of $150.93 million. Glaukos had a negative net margin of 30.68% and a negative return on equity of 6.37%. Glaukos’s revenue for the quarter was up 49.6% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.24) EPS. Equities analysts anticipate that Glaukos Corporation will post -0.32 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Joseph E. Gilliam sold 60,000 shares of the business’s stock in a transaction dated Tuesday, August 11th. The stock was 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. The trade was a 45.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Alex R. Thurman sold 20,000 shares of the company’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $180.13, for a total value of $3,602,600.00. Following the completion of the transaction, the chief financial officer directly owned 43,906 shares of the company’s stock, 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 sold 113,025 shares of company stock valued at $19,600,006 in the last ninety days. 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.