TimesSquare Capital Management LLC Buys Shares of 145,202 Glaukos Corporation $GKOS

TimesSquare Capital Management LLC purchased a new stake in shares of Glaukos Corporation (NYSE:GKOS) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 145,202 shares of the medical instruments supplier’s stock, valued at approximately $20,293,000.

Other large investors have also recently made changes to their positions in the company. First Horizon Corp raised its holdings in shares of Glaukos by 1,715.4% during the fourth quarter. First Horizon Corp now owns 236 shares of the medical instruments supplier’s stock valued at $27,000 after purchasing an additional 223 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in Glaukos in the fourth quarter worth approximately $28,000. Larson Financial Group LLC boosted its holdings in Glaukos by 62.0% in the fourth quarter. Larson Financial Group LLC now owns 345 shares of the medical instruments supplier’s stock worth $39,000 after purchasing an additional 132 shares during the last quarter. Parallel Advisors LLC grew its position in Glaukos by 159.2% in the 1st quarter. Parallel Advisors LLC now owns 368 shares of the medical instruments supplier’s stock worth $40,000 after purchasing an additional 226 shares during the period. Finally, Farther Finance Advisors LLC grew its position in Glaukos by 111.4% in the 4th quarter. Farther Finance Advisors LLC now owns 408 shares of the medical instruments supplier’s stock worth $46,000 after purchasing an additional 215 shares during the period. 99.04% of the stock is currently owned by institutional investors.

Glaukos Trading Up 0.3%

Shares of Glaukos stock opened at $185.05 on Tuesday. Glaukos Corporation has a fifty-two week low of $73.16 and a fifty-two week high of $190.00. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.46 and a current ratio of 5.04. The company has a market capitalization of $10.91 billion, a P/E ratio of -56.94 and a beta of 0.78. The company has a fifty day moving average of $152.50 and a 200 day moving average of $129.86.

Glaukos (NYSE:GKOS) last posted its quarterly earnings results on Wednesday, July 29th. The medical instruments supplier reported ($0.14) EPS for the quarter, beating 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 analysts’ expectations of $150.93 million. During the same period last year, the firm earned ($0.24) earnings per share. The business’s quarterly revenue was up 49.6% on a year-over-year basis. On average, sell-side analysts anticipate that Glaukos Corporation will post -0.35 earnings per share for the current fiscal year.

Insider Activity at Glaukos

In related news, Director Leana Wen sold 525 shares of Glaukos stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $167.63, for a total transaction of $88,005.75. Following the sale, the director owned 21,092 shares of the company’s stock, valued at approximately $3,535,651.96. This trade represents a 2.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Joseph E. Gilliam sold 60,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $179.74, for a total value of $10,784,400.00. Following the completion of the transaction, the chief operating officer directly 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 disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 110,525 shares of company stock valued at $19,125,006. 5.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

GKOS has been the subject of a number of research reports. Truist Financial boosted their target price on shares of Glaukos from $180.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. William Blair restated an “outperform” rating on shares of Glaukos in a research note on Tuesday, May 26th. Wall Street Zen raised Glaukos from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. UBS Group initiated coverage on Glaukos in a research report on Tuesday, July 28th. They set a “neutral” rating and a $150.00 price objective for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Glaukos in a report on Friday, July 17th. Twelve investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Glaukos currently has an average rating of “Moderate Buy” and a consensus price target of $177.33.

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.