Assetmark Inc. Buys 76,237 Shares of Glaukos Corporation $GKOS

Assetmark Inc. grew its stake in shares of Glaukos Corporation (NYSE:GKOS) by 110,488.4% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 76,306 shares of the medical instruments supplier’s stock after buying an additional 76,237 shares during the period. Assetmark Inc.’s holdings in Glaukos were worth $8,215,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. First Horizon Corp increased its stake in Glaukos by 1,715.4% in the fourth quarter. First Horizon Corp now owns 236 shares of the medical instruments supplier’s stock valued at $27,000 after acquiring an additional 223 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in Glaukos during the fourth quarter worth about $28,000. Larson Financial Group LLC lifted its stake in Glaukos by 62.0% during 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. Farther Finance Advisors LLC boosted its holdings in shares of 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 in the last quarter. Finally, Salomon & Ludwin LLC boosted its holdings in shares of Glaukos by 111.2% in the 4th quarter. Salomon & Ludwin LLC now owns 454 shares of the medical instruments supplier’s stock worth $51,000 after purchasing an additional 239 shares in the last quarter. 99.04% of the stock is owned by institutional investors.

Analysts Set New Price Targets

GKOS has been the topic of a number of research reports. Truist Financial raised their price objective on Glaukos from $160.00 to $180.00 and gave the company a “buy” rating in a report on Thursday, July 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Glaukos in a research note on Tuesday, April 21st. Piper Sandler reiterated an “overweight” rating and set a $165.00 price target on shares of Glaukos in a research report on Wednesday, July 1st. Wall Street Zen downgraded shares of Glaukos from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Needham & Company LLC boosted their price objective on shares of Glaukos from $136.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, June 17th. Thirteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $154.85.

Glaukos Stock Down 0.8%

GKOS opened at $155.54 on Tuesday. Glaukos Corporation has a 12 month low of $73.16 and a 12 month high of $161.53. The company has a current ratio of 5.43, a quick ratio of 4.73 and a debt-to-equity ratio of 0.10. The business’s 50-day moving average price is $134.80 and its 200-day moving average price is $122.38. The company has a market cap of $9.13 billion, a P/E ratio of -47.42 and a beta of 0.75.

Glaukos (NYSE:GKOS) last issued its earnings results on Wednesday, April 29th. The medical instruments supplier reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.12. Glaukos had a negative return on equity of 6.92% and a negative net margin of 34.34%.The company had revenue of $150.57 million during the quarter, compared to analysts’ expectations of $137.00 million. During the same period in the prior year, the business posted ($0.22) EPS. Glaukos’s quarterly revenue was up 41.2% compared to the same quarter last year. On average, equities analysts expect that Glaukos Corporation will post -0.57 EPS for the current year.

Insider Buying and Selling

In related news, CFO Alex R. Thurman sold 10,000 shares of Glaukos stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $155.00, for a total value of $1,550,000.00. Following the transaction, the chief financial officer directly owned 43,681 shares of the company’s stock, valued at $6,770,555. The trade was a 18.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gilbert H. Kliman sold 5,000 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $140.76, for a total transaction of $703,800.00. Following the sale, the director owned 35,528 shares of the company’s stock, valued at $5,000,921.28. This represents a 12.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 61,273 shares of company stock worth $8,882,003. Company insiders own 5.90% of the company’s stock.

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.