Holocene Advisors LP Decreases Position in Glaukos Corporation $GKOS

Holocene Advisors LP decreased its holdings in Glaukos Corporation (NYSE:GKOS) by 47.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 547,052 shares of the medical instruments supplier’s stock after selling 498,834 shares during the period. Holocene Advisors LP’s holdings in Glaukos were worth $44,612,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of GKOS. UMB Bank n.a. raised its stake in shares of Glaukos by 102.6% in the third quarter. UMB Bank n.a. now owns 312 shares of the medical instruments supplier’s stock valued at $25,000 after acquiring an additional 158 shares in the last quarter. REAP Financial Group LLC acquired a new position in Glaukos during the 3rd quarter worth $40,000. SBI Securities Co. Ltd. increased its holdings in Glaukos by 42.9% during the 3rd quarter. SBI Securities Co. Ltd. now owns 1,205 shares of the medical instruments supplier’s stock worth $98,000 after purchasing an additional 362 shares during the period. Smartleaf Asset Management LLC raised its position in Glaukos by 16.2% in the 2nd quarter. Smartleaf Asset Management LLC now owns 973 shares of the medical instruments supplier’s stock valued at $99,000 after purchasing an additional 136 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in Glaukos by 4,970.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,724 shares of the medical instruments supplier’s stock valued at $141,000 after purchasing an additional 1,690 shares in the last quarter. Hedge funds and other institutional investors own 99.04% of the company’s stock.

Insider Activity at Glaukos

In related news, CEO Thomas William Burns sold 186,945 shares of the business’s stock in a transaction on Friday, January 16th. The shares were sold at an average price of $115.00, for a total value of $21,498,675.00. Following the completion of the sale, the chief executive officer directly owned 153,775 shares of the company’s stock, valued at $17,684,125. The trade was a 54.87% 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, Director Aimee S. Weisner sold 15,000 shares of the company’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $117.38, for a total transaction of $1,760,700.00. Following the completion of the transaction, the director owned 18,806 shares of the company’s stock, valued at $2,207,448.28. This represents a 44.37% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 320,000 shares of company stock worth $37,202,909. Corporate insiders own 5.80% of the company’s stock.

Glaukos Price Performance

Shares of NYSE GKOS opened at $98.94 on Tuesday. The stock’s 50-day simple moving average is $114.35 and its 200-day simple moving average is $101.31. The firm has a market capitalization of $5.75 billion, a PE ratio of -30.35 and a beta of 0.70. Glaukos Corporation has a fifty-two week low of $73.16 and a fifty-two week high of $130.23. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.06 and a current ratio of 4.69.

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

Wall Street Analyst Weigh In

GKOS has been the subject of a number of analyst reports. Wells Fargo & Company boosted their price objective on Glaukos from $122.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 18th. Stifel Nicolaus lifted their price target on shares of Glaukos from $115.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. UBS Group boosted their price target 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 increased their price objective 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. Finally, BTIG Research restated a “buy” rating and issued a $131.00 price objective on shares of Glaukos in a report on Wednesday, February 18th. One 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 given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $133.69.

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.