Primecap Management Co. CA Purchases 425,790 Shares of Glaukos Corporation $GKOS

Primecap Management Co. CA grew its stake in shares of Glaukos Corporation (NYSE:GKOS) by 23.3% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 2,253,788 shares of the medical instruments supplier’s stock after buying an additional 425,790 shares during the period. Primecap Management Co. CA’s holdings in Glaukos were worth $183,796,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in GKOS. Riverbridge Partners LLC grew its position in Glaukos by 41.0% during the 3rd quarter. Riverbridge Partners LLC now owns 569,644 shares of the medical instruments supplier’s stock worth $46,454,000 after acquiring an additional 165,673 shares during the last quarter. Holocene Advisors LP grew its holdings in Glaukos by 40.1% during the 2nd quarter. Holocene Advisors LP now owns 1,045,886 shares of the medical instruments supplier’s stock worth $108,030,000 after acquiring an additional 299,118 shares during the last quarter. State of New Jersey Common Pension Fund D increased its position in Glaukos by 4.2% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 19,905 shares of the medical instruments supplier’s stock valued at $2,056,000 after acquiring an additional 800 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Glaukos by 4.3% during the third quarter. JPMorgan Chase & Co. now owns 670,083 shares of the medical instruments supplier’s stock valued at $54,645,000 after purchasing an additional 27,646 shares during the last quarter. Finally, Baird Financial Group Inc. increased its holdings in shares of Glaukos by 17.7% in the second quarter. Baird Financial Group Inc. now owns 63,379 shares of the medical instruments supplier’s stock valued at $6,546,000 after purchasing an additional 9,545 shares in the last quarter. Institutional investors own 99.04% of the company’s stock.

Insider Activity at Glaukos

In other news, Director Marc Stapley sold 15,000 shares of Glaukos stock in a transaction 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 owned 37,449 shares of the company’s stock, valued at approximately $4,782,611.79. This trade represents a 28.60% 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 hyperlink. Also, CEO Thomas William Burns sold 186,945 shares of the company’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 sale, the chief executive officer owned 153,775 shares of the company’s stock, valued at approximately $17,684,125. The trade was a 54.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 325,000 shares of company stock valued at $37,739,259 in the last 90 days. Corporate insiders own 5.80% of the company’s stock.

Glaukos Stock Performance

NYSE GKOS opened at $121.62 on Friday. The firm has a market capitalization of $7.06 billion, a P/E ratio of -37.31 and a beta of 0.70. The firm’s fifty day moving average price is $115.92 and its two-hundred day moving average price is $99.78. Glaukos Corporation has a 1 year low of $73.16 and a 1 year high of $130.23. The company has a current ratio of 4.69, a quick ratio of 4.06 and a debt-to-equity ratio of 0.10.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. William Blair raised Glaukos to a “strong-buy” rating in a research note on Friday, January 30th. Weiss Ratings reissued a “sell (d-)” rating on shares of Glaukos in a report on Thursday, January 22nd. Wall Street Zen lowered shares of Glaukos from a “buy” rating to a “hold” rating in a report on Saturday, February 21st. Citigroup lifted their price objective on Glaukos from $113.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Finally, BTIG Research reiterated a “buy” rating and issued a $131.00 price objective on shares of Glaukos in a research report on Wednesday, February 18th. One 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 issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $133.69.

Glaukos 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.