Cinctive Capital Management LP Makes New Investment in Glaukos Corporation $GKOS

Cinctive Capital Management LP purchased a new stake in Glaukos Corporation (NYSE:GKOS) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 11,498 shares of the medical instruments supplier’s stock, valued at approximately $938,000.

Several other large investors have also recently modified their holdings of the business. California Public Employees Retirement System grew its stake in shares of Glaukos by 6.0% in the third 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 during the last quarter. Bank of America Corp DE increased its holdings in Glaukos by 66.3% in 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 period. Boothbay Fund Management LLC bought a new position in Glaukos during the 3rd quarter worth $302,000. Braidwell LP raised its position in Glaukos by 29.3% during the 3rd quarter. Braidwell LP now owns 780,164 shares of the medical instruments supplier’s stock worth $63,622,000 after purchasing an additional 176,750 shares during the last quarter. Finally, Aquatic Capital Management LLC acquired a new position in Glaukos during the 3rd quarter worth about $677,000. Institutional investors own 99.04% of the company’s stock.

Glaukos Stock Up 2.0%

Shares of NYSE:GKOS opened at $98.94 on Tuesday. 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 business’s 50 day simple moving average is $114.35 and its two-hundred day simple moving average is $101.31. The firm has a market cap of $5.75 billion, a P/E ratio of -30.35 and a beta of 0.70.

Glaukos (NYSE:GKOS) last released its quarterly earnings data on Tuesday, February 17th. The medical instruments supplier reported ($0.28) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $143.12 million for the quarter, compared to the consensus estimate of $132.16 million. During the same quarter in the prior year, the firm earned ($0.40) EPS. The company’s revenue was up 35.6% compared to the same quarter last year. As a group, research analysts forecast that Glaukos Corporation will post -1.08 EPS for the current fiscal year.

Insider Buying and Selling at Glaukos

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 shares were sold at an average price of $115.00, for a total transaction of $21,498,675.00. Following the completion of the sale, the chief executive officer owned 153,775 shares in the company, valued at approximately $17,684,125. The trade was a 54.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Marc Stapley sold 15,000 shares of the company’s 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 transaction, the director owned 37,449 shares in the company, valued at approximately $4,782,611.79. The trade was a 28.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 320,000 shares of company stock worth $37,202,909. Company insiders own 5.80% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on GKOS shares. Truist Financial upped their price target on Glaukos from $120.00 to $145.00 and gave the company a “buy” rating in a research report on Thursday, December 18th. 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. BTIG Research reiterated a “buy” rating and issued a $131.00 target price on shares of Glaukos in a report on Wednesday, February 18th. Piper Sandler reissued an “overweight” rating and set a $165.00 target price on shares of Glaukos in a research report on Wednesday, January 14th. Finally, Needham & Company LLC raised their price target on shares of Glaukos from $125.00 to $127.00 and gave the stock a “buy” rating in a report on Wednesday, February 18th. One research 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. According to MarketBeat, the company presently 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.