Susquehanna Fundamental Investments LLC Makes New Investment in Glaukos Corporation $GKOS

Susquehanna Fundamental Investments LLC purchased a new stake in Glaukos Corporation (NYSE:GKOS) in the 2nd quarter, HoldingsChannel reports. The fund purchased 24,049 shares of the medical instruments supplier’s stock, valued at approximately $3,361,000.

A number of other hedge funds have also recently made changes to their positions in GKOS. AQR Capital Management LLC increased its position in shares of Glaukos by 2.6% during the first quarter. AQR Capital Management LLC now owns 7,788 shares of the medical instruments supplier’s stock worth $766,000 after acquiring an additional 198 shares in the last quarter. Jones Financial Companies Lllp lifted its position in Glaukos by 1,405.9% in the 1st 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Glaukos by 41.7% in the 1st 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 in the last quarter. M&T Bank Corp acquired a new position in Glaukos during the 2nd quarter valued at about $203,000. Finally, Gamco Investors INC. ET AL boosted its stake in Glaukos by 10.7% during the 2nd quarter. Gamco Investors INC. ET AL now owns 8,001 shares of the medical instruments supplier’s stock valued at $826,000 after purchasing an additional 773 shares during the last quarter. 99.04% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, COO Joseph E. Gilliam sold 60,000 shares of the stock in a transaction dated 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 in the company, valued at approximately $13,046,967.12. This represents a 45.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gilbert H. Kliman sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $190.00, for a total transaction of $475,000.00. Following the sale, the director owned 37,406 shares of the company’s stock, valued at $7,107,140. This trade represents a 6.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 113,025 shares of company stock valued at $19,600,006. 5.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on GKOS shares. HC Wainwright raised their target price on Glaukos from $168.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Wall Street Zen upgraded Glaukos from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. William Blair reaffirmed an “outperform” rating on shares of Glaukos in a report on Tuesday, May 26th. Truist Financial upped their target price on shares of Glaukos from $180.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Finally, Stifel Nicolaus increased their target price on shares of Glaukos from $175.00 to $190.00 and gave the company a “buy” 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 issued 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.

Glaukos Stock Performance

Shares of GKOS opened at $179.45 on Tuesday. The company has a current ratio of 5.04, a quick ratio of 4.46 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $10.58 billion, a price-to-earnings ratio of -55.22 and a beta of 0.78. The stock has a 50 day moving average of $163.60 and a 200 day moving average of $134.57. Glaukos Corporation has a 12 month low of $73.16 and a 12 month high of $191.62.

Glaukos (NYSE:GKOS) last issued its quarterly earnings results on Wednesday, July 29th. The medical instruments supplier reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.07. Glaukos had a negative return on equity of 6.37% and a negative net margin of 30.68%.The business had revenue of $185.61 million for the quarter, compared to analyst estimates of $150.93 million. During the same period last year, the company posted ($0.24) earnings per share. Glaukos’s quarterly revenue was up 49.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Glaukos Corporation will post -0.32 earnings per share for the current year.

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.