Glaukos Corporation $GKOS Shares Purchased by Iron Triangle Partners LP

Iron Triangle Partners LP grew its position in shares of Glaukos Corporation (NYSE:GKOS) by 26.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 342,804 shares of the medical instruments supplier’s stock after purchasing an additional 71,641 shares during the quarter. Glaukos accounts for 4.0% of Iron Triangle Partners LP’s portfolio, making the stock its 9th largest position. Iron Triangle Partners LP owned about 0.60% of Glaukos worth $27,956,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Focus Partners Wealth grew its holdings in Glaukos by 6.9% during the third quarter. Focus Partners Wealth now owns 2,714 shares of the medical instruments supplier’s stock worth $202,000 after acquiring an additional 176 shares during the period. Brevan Howard Capital Management LP bought a new position in shares of Glaukos during the 3rd quarter valued at about $695,000. Cinctive Capital Management LP acquired a new position in shares of Glaukos in the 3rd quarter worth approximately $938,000. California Public Employees Retirement System raised its holdings in shares of Glaukos by 6.0% in the 3rd quarter. California Public Employees Retirement System now owns 72,353 shares of the medical instruments supplier’s stock worth $5,900,000 after purchasing an additional 4,076 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in Glaukos by 66.3% during the third quarter. Bank of America Corp DE now owns 474,930 shares of the medical instruments supplier’s stock valued at $38,731,000 after purchasing an additional 189,284 shares during the last quarter. Institutional investors own 99.04% of the company’s stock.

Insiders Place Their Bets

In other Glaukos news, COO Joseph E. Gilliam sold 10,498 shares of Glaukos stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $127.68, for a total transaction of $1,340,384.64. Following the transaction, the chief operating officer owned 92,366 shares of the company’s stock, valued at $11,793,290.88. The trade was a 10.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Marc Stapley sold 15,000 shares of the stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $127.71, for a total transaction of $1,915,650.00. Following the completion of the sale, the director directly owned 37,449 shares of the company’s stock, valued at $4,782,611.79. This trade represents a 28.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 320,000 shares of company stock valued at $37,202,909 in the last 90 days. Insiders own 6.40% of the company’s stock.

Glaukos Trading Down 0.9%

NYSE GKOS opened at $96.89 on Monday. The firm’s 50 day moving average price is $114.63 and its two-hundred day moving average price is $101.29. 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 Corporation has a twelve month low of $73.16 and a twelve month high of $130.23. The stock has a market cap of $5.63 billion, a price-to-earnings ratio of -29.72 and a beta of 0.70.

Glaukos (NYSE:GKOS) last released its 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 analysts’ expectations of $132.16 million. During the same quarter in the previous year, the company earned ($0.40) EPS. Glaukos’s revenue for the quarter was up 35.6% on a year-over-year basis. Equities analysts anticipate that Glaukos Corporation will post -1.08 EPS for the current year.

Wall Street Analysts Forecast Growth

GKOS has been the subject of a number of research reports. The Goldman Sachs Group restated a “buy” rating and set a $138.00 target price on shares of Glaukos in a report on Friday, January 9th. Stephens raised their price objective on Glaukos from $115.00 to $145.00 and gave the stock an “overweight” rating in a research note on Friday, January 2nd. William Blair raised Glaukos to a “strong-buy” rating in a research report on Friday, January 30th. UBS Group upped their target price on Glaukos from $140.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, December 23rd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Glaukos in a research report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Glaukos has an average rating of “Moderate Buy” and a consensus target price of $133.69.

Glaukos Company 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.