Champlain Investment Partners LLC Cuts Stake in Glaukos Corporation $GKOS

Champlain Investment Partners LLC reduced its position in shares of Glaukos Corporation (NYSE:GKOS) by 1.3% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 358,419 shares of the medical instruments supplier’s stock after selling 4,607 shares during the quarter. Champlain Investment Partners LLC owned 0.62% of Glaukos worth $29,229,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. AQR Capital Management LLC grew its holdings in shares of Glaukos by 2.6% during the first quarter. AQR Capital Management LLC now owns 7,788 shares of the medical instruments supplier’s stock valued at $766,000 after buying an additional 198 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in Glaukos by 1,405.9% during the 1st quarter. Jones Financial Companies Lllp now owns 2,560 shares of the medical instruments supplier’s stock valued at $252,000 after purchasing an additional 2,390 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Glaukos by 41.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 229,994 shares of the medical instruments supplier’s stock worth $22,636,000 after purchasing an additional 67,668 shares in the last quarter. AlphaQuest LLC raised 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 worth $67,000 after purchasing an additional 633 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Glaukos by 72.8% during the second quarter. Envestnet Asset Management Inc. now owns 48,439 shares of the medical instruments supplier’s stock valued at $5,003,000 after purchasing an additional 20,401 shares in the last quarter. Institutional investors own 99.04% of the company’s stock.

Glaukos Stock Down 2.9%

Shares of GKOS stock opened at $117.63 on Wednesday. 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 Corporation has a 12 month low of $73.16 and a 12 month high of $130.23. The stock has a market cap of $6.83 billion, a P/E ratio of -36.08 and a beta of 0.70. The company has a 50 day simple moving average of $116.12 and a two-hundred day simple moving average of $100.55.

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

Insider Activity at Glaukos

In other news, Director Gilbert H. Kliman sold 5,000 shares of Glaukos stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $107.27, for a total transaction of $536,350.00. Following the transaction, the director directly owned 34,905 shares of the company’s stock, valued at $3,744,259.35. The trade was a 12.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Marc Stapley sold 15,000 shares of the business’s stock in a transaction that occurred 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 transaction, 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 SEC filing for this sale provides additional information. Insiders sold 325,000 shares of company stock valued at $37,739,259 in the last ninety days. Corporate insiders own 6.40% of the company’s stock.

Wall Street Analysts Forecast Growth

GKOS has been the topic of several research analyst reports. Wells Fargo & Company upped their target price on shares of Glaukos from $122.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, February 18th. UBS Group boosted their price objective on shares of Glaukos from $140.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, December 23rd. BTIG Research restated a “buy” rating and issued a $131.00 target price on shares of Glaukos in a report on Wednesday, February 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Glaukos in a research report on Thursday, January 22nd. Finally, Stifel Nicolaus increased their price target on Glaukos from $115.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. One research 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 issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $133.69.

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.