Braun Stacey Associates Inc. Buys Shares of 55,010 Glaukos Corporation $GKOS

Braun Stacey Associates Inc. purchased a new position in shares of Glaukos Corporation (NYSE:GKOS) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 55,010 shares of the medical instruments supplier’s stock, valued at approximately $7,688,000. Braun Stacey Associates Inc. owned approximately 0.09% of Glaukos at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GKOS. BlackRock Inc. acquired a new stake in shares of Glaukos in the 2nd quarter worth $1,333,318,000. Jupiter Topco LLC acquired a new position in Glaukos during the 2nd quarter valued at about $679,614,000. Primecap Management Co. CA acquired a new position in Glaukos during the 2nd quarter valued at about $424,969,000. Janus Henderson Group PLC raised its stake in Glaukos by 77.2% in the first quarter. Janus Henderson Group PLC now owns 5,348,395 shares of the medical instruments supplier’s stock valued at $575,844,000 after buying an additional 2,329,608 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in Glaukos by 209.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,350,425 shares of the medical instruments supplier’s stock valued at $152,476,000 after buying an additional 913,458 shares during the last quarter. Hedge funds and other institutional investors own 99.04% of the company’s stock.

Wall Street Analyst Weigh In

GKOS has been the topic of a number of research analyst reports. Citigroup boosted their price target on Glaukos from $175.00 to $188.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. BTIG Research lifted their target price on shares of Glaukos from $193.00 to $202.00 and gave the stock a “buy” rating in a research note on Thursday, August 20th. UBS Group initiated coverage on shares of Glaukos in a research report on Tuesday, July 28th. They set a “neutral” rating and a $150.00 target price on the stock. Needham & Company LLC upped their price target on shares of Glaukos from $150.00 to $201.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Finally, Wells Fargo & Company raised their price target on shares of Glaukos from $138.00 to $178.00 and gave the stock an “overweight” rating in a report on Thursday, July 30th. Twelve 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. According to MarketBeat, Glaukos presently has an average rating of “Moderate Buy” and an average price target of $178.08.

Insider Buying and Selling

In related news, Director Gilbert H. Kliman sold 2,500 shares of the business’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $190.00, for a total value of $475,000.00. Following the completion of the transaction, the director directly owned 37,406 shares in the company, valued at $7,107,140. The trade was a 6.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Joseph E. Gilliam sold 60,000 shares of the business’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $179.74, for a total transaction of $10,784,400.00. Following the completion of the transaction, the chief operating officer owned 72,588 shares of the company’s stock, valued at approximately $13,046,967.12. This represents a 45.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 113,025 shares of company stock worth $19,600,006. 5.90% of the stock is currently owned by company insiders.

Glaukos Stock Performance

Shares of GKOS stock opened at $179.95 on Friday. The stock has a market cap of $10.61 billion, a PE ratio of -55.37 and a beta of 0.78. The business has a 50-day simple moving average of $162.64 and a 200-day simple moving average of $133.95. The company has a quick ratio of 4.46, a current ratio of 5.04 and a debt-to-equity ratio of 0.10. Glaukos Corporation has a 52-week low of $73.16 and a 52-week high of $191.62.

Glaukos (NYSE:GKOS) last posted its earnings results on Wednesday, July 29th. The medical instruments supplier reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.07. The firm had revenue of $185.61 million for the quarter, compared to analyst estimates of $150.93 million. Glaukos had a negative return on equity of 6.37% and a negative net margin of 30.68%.Glaukos’s revenue for the quarter was up 49.6% compared to the same quarter last year. During the same period last year, the company earned ($0.24) earnings per share. On average, equities analysts expect 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.