Eversept Partners LP Sells 87,257 Shares of Glaukos Corporation $GKOS

Eversept Partners LP lessened its stake in Glaukos Corporation (NYSE:GKOS) by 59.2% in the 1st quarter, HoldingsChannel reports. The fund owned 60,214 shares of the medical instruments supplier’s stock after selling 87,257 shares during the quarter. Eversept Partners LP’s holdings in Glaukos were worth $6,483,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. SG Americas Securities LLC raised its position in Glaukos by 460.8% in the 4th quarter. SG Americas Securities LLC now owns 60,232 shares of the medical instruments supplier’s stock worth $6,801,000 after purchasing an additional 49,492 shares during the last quarter. Stephens Inc. AR acquired a new position in Glaukos during the 1st quarter worth $363,000. Allspring Global Investments Holdings LLC boosted its position in Glaukos by 32.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 355,279 shares of the medical instruments supplier’s stock valued at $39,336,000 after buying an additional 87,781 shares during the last quarter. DNB Asset Management AS boosted its position in Glaukos by 11.9% in the 4th quarter. DNB Asset Management AS now owns 82,320 shares of the medical instruments supplier’s stock valued at $9,295,000 after buying an additional 8,770 shares during the last quarter. Finally, Capricorn Fund Managers Ltd acquired a new stake in shares of Glaukos in the 4th quarter valued at $6,775,000. 99.04% of the stock is owned by institutional investors.

Insider Activity

In other Glaukos news, CFO Alex R. Thurman sold 10,000 shares of the stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $155.00, for a total value of $1,550,000.00. Following the sale, the chief financial officer directly owned 43,681 shares in the company, valued at approximately $6,770,555. This trade represents a 18.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gilbert H. Kliman sold 5,000 shares of Glaukos stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $140.76, for a total transaction of $703,800.00. Following the transaction, the director directly owned 35,528 shares in the company, valued at approximately $5,000,921.28. This represents a 12.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 61,273 shares of company stock worth $8,882,003 over the last three months. Company insiders own 5.90% of the company’s stock.

Glaukos Price Performance

Shares of GKOS opened at $152.07 on Tuesday. The stock has a market cap of $8.93 billion, a P/E ratio of -46.36 and a beta of 0.75. Glaukos Corporation has a 1 year low of $73.16 and a 1 year high of $161.53. The stock’s 50-day moving average price is $136.04 and its two-hundred day moving average price is $123.80. The company has a current ratio of 5.43, a quick ratio of 4.73 and a debt-to-equity ratio of 0.10.

Glaukos (NYSE:GKOS) last announced its quarterly earnings results on Wednesday, April 29th. The medical instruments supplier reported ($0.18) EPS for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.12. Glaukos had a negative return on equity of 6.92% and a negative net margin of 34.34%.The company had revenue of $150.57 million during the quarter, compared to analysts’ expectations of $137.00 million. During the same period in the prior year, the business posted ($0.22) EPS. Glaukos’s revenue was up 41.2% on a year-over-year basis. On average, equities analysts predict that Glaukos Corporation will post -0.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GKOS. HC Wainwright assumed coverage on Glaukos in a research report on Monday, July 6th. They set a “buy” rating and a $168.00 target price for the company. JPMorgan Chase & Co. raised their price target on Glaukos from $120.00 to $140.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Citigroup lifted their price objective on Glaukos from $162.00 to $175.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Wells Fargo & Company boosted their price objective on Glaukos from $135.00 to $138.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Finally, William Blair restated an “outperform” rating on shares of Glaukos in a research report on Tuesday, May 26th. Thirteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $154.85.

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.