The Manufacturers Life Insurance Company Buys Shares of 29,931 Glaukos Corporation $GKOS

The Manufacturers Life Insurance Company bought a new position in Glaukos Corporation (NYSE:GKOS) in the second quarter, according to its most recent disclosure with the SEC. The firm bought 29,931 shares of the medical instruments supplier’s stock, valued at approximately $4,183,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. BlackRock Inc. acquired a new position in shares of Glaukos during the 2nd quarter valued at about $1,333,318,000. Janus Henderson Group PLC grew its holdings in shares of 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 purchasing an additional 2,329,608 shares during the period. Wellington Management Group LLP increased its position in Glaukos by 10.4% during the third quarter. Wellington Management Group LLP now owns 3,580,670 shares of the medical instruments supplier’s stock worth $292,004,000 after purchasing an additional 336,266 shares during the last quarter. Primecap Management Co. CA increased its position in Glaukos by 49.8% during the fourth quarter. Primecap Management Co. CA now owns 3,376,928 shares of the medical instruments supplier’s stock worth $381,289,000 after purchasing an additional 1,123,140 shares during the last quarter. Finally, State Street Corp raised its stake in Glaukos by 0.9% during the fourth quarter. State Street Corp now owns 2,122,402 shares of the medical instruments supplier’s stock worth $239,640,000 after purchasing an additional 18,040 shares during the period. 99.04% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Glaukos

In related news, CFO Alex R. Thurman sold 20,000 shares of Glaukos stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $180.13, for a total value of $3,602,600.00. Following the completion of the sale, the chief financial officer owned 43,906 shares in the company, valued at approximately $7,908,787.78. This trade represents a 31.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gilbert H. Kliman sold 2,500 shares of the business’s stock in a transaction that occurred 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 sale, the director directly owned 37,406 shares in the company, valued at approximately $7,107,140. The trade was a 6.26% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 113,025 shares of company stock valued at $19,600,006. 5.90% of the stock is owned by insiders.

Glaukos Stock Down 1.3%

Shares of NYSE:GKOS opened at $177.27 on Wednesday. The company has a market capitalization of $10.46 billion, a price-to-earnings ratio of -54.54 and a beta of 0.76. Glaukos Corporation has a 12-month low of $73.16 and a 12-month high of $191.62. The business has a 50-day moving average price of $164.45 and a 200 day moving average price of $135.05. The company has a current ratio of 5.04, a quick ratio of 4.46 and a debt-to-equity ratio of 0.10.

Glaukos (NYSE:GKOS) last posted its earnings results on Wednesday, July 29th. The medical instruments supplier reported ($0.14) EPS 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.24) earnings per share. Sell-side analysts expect that Glaukos Corporation will post -0.32 EPS for the current year.

Analysts Set New Price Targets

GKOS has been the topic of several recent analyst reports. Citigroup boosted their target price on shares of Glaukos from $175.00 to $188.00 and gave the company a “buy” rating in a report on Thursday, July 30th. 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Glaukos in a research report on Friday, July 17th. Piper Sandler reiterated an “overweight” rating and issued a $195.00 price objective (up from $165.00) on shares of Glaukos in a report on Thursday, July 30th. Finally, HC Wainwright increased their price objective on Glaukos from $168.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Twelve equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $178.08.

About Glaukos

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.