JPMorgan Chase & Co. Acquires 27,646 Shares of Glaukos Corporation $GKOS

JPMorgan Chase & Co. raised its holdings in shares of Glaukos Corporation (NYSE:GKOS) by 4.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 670,083 shares of the medical instruments supplier’s stock after buying an additional 27,646 shares during the quarter. JPMorgan Chase & Co. owned about 1.17% of Glaukos worth $54,645,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of GKOS. UMB Bank n.a. boosted its holdings in Glaukos by 102.6% in the 3rd quarter. UMB Bank n.a. now owns 312 shares of the medical instruments supplier’s stock valued at $25,000 after purchasing an additional 158 shares during the period. REAP Financial Group LLC acquired a new position in shares of Glaukos during the third quarter valued at about $40,000. AlphaQuest LLC lifted its stake in shares of Glaukos by 5,754.5% in the second quarter. AlphaQuest LLC now owns 644 shares of the medical instruments supplier’s stock valued at $67,000 after buying an additional 633 shares during the period. SBI Securities Co. Ltd. grew its position in Glaukos by 42.9% during the third quarter. SBI Securities Co. Ltd. now owns 1,205 shares of the medical instruments supplier’s stock worth $98,000 after buying an additional 362 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in Glaukos by 16.2% during the second quarter. Smartleaf Asset Management LLC now owns 973 shares of the medical instruments supplier’s stock valued at $99,000 after acquiring an additional 136 shares during the period. Institutional investors and hedge funds own 99.04% of the company’s stock.

Insiders Place Their Bets

In other Glaukos news, CEO Thomas William Burns sold 186,945 shares of the business’s stock in a transaction on Friday, January 16th. The stock was sold at an average price of $115.00, for a total value of $21,498,675.00. Following the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Marc Stapley sold 15,000 shares of the firm’s stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $127.71, for a total value 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 disclosure for this sale is available in the SEC filing. Insiders sold 325,000 shares of company stock worth $37,739,259 over the last ninety days. 5.80% of the stock is owned by insiders.

Glaukos Stock Up 1.7%

Shares of NYSE:GKOS opened at $121.25 on Thursday. The company’s fifty day moving average is $115.75 and its 200-day moving average is $99.63. 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 52 week low of $73.16 and a 52 week high of $130.23. The company has a market capitalization of $7.04 billion, a PE ratio of -37.19 and a beta of 0.70.

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

Analysts Set New Price Targets

A number of brokerages have commented on GKOS. Wells Fargo & Company raised their price objective on Glaukos from $122.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 18th. BTIG Research restated a “buy” rating and issued a $131.00 target price on shares of Glaukos in a research note on Wednesday, February 18th. Piper Sandler reissued an “overweight” rating and issued a $165.00 price target on shares of Glaukos in a report on Wednesday, January 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Glaukos in a research note on Thursday, January 22nd. Finally, UBS Group lifted their target price on shares of Glaukos from $140.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, December 23rd. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.