Glaukos Corporation $GKOS Shares Purchased by Fifth Third Bancorp

Fifth Third Bancorp boosted its stake in Glaukos Corporation (NYSE:GKOS) by 318.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,533 shares of the medical instruments supplier’s stock after acquiring an additional 12,578 shares during the period. Fifth Third Bancorp’s holdings in Glaukos were worth $1,780,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of GKOS. First Horizon Corp grew its stake in Glaukos by 1,715.4% during the 4th quarter. First Horizon Corp now owns 236 shares of the medical instruments supplier’s stock worth $27,000 after buying an additional 223 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Glaukos in the 4th quarter valued at $28,000. Larson Financial Group LLC raised its holdings in shares of Glaukos by 62.0% in the fourth quarter. Larson Financial Group LLC now owns 345 shares of the medical instruments supplier’s stock valued at $39,000 after buying an additional 132 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Glaukos by 111.4% during the fourth quarter. Farther Finance Advisors LLC now owns 408 shares of the medical instruments supplier’s stock worth $46,000 after buying an additional 215 shares during the last quarter. Finally, Salomon & Ludwin LLC grew its holdings in shares of Glaukos by 111.2% during the fourth quarter. Salomon & Ludwin LLC now owns 454 shares of the medical instruments supplier’s stock worth $51,000 after buying an additional 239 shares during the last quarter. Institutional investors and hedge funds own 99.04% of the company’s stock.

Glaukos Stock Performance

GKOS opened at $152.81 on Thursday. Glaukos Corporation has a 1-year low of $73.16 and a 1-year high of $161.53. The stock has a market cap of $8.98 billion, a P/E ratio of -46.59 and a beta of 0.75. The stock’s 50 day simple moving average is $135.45 and its 200 day simple moving average is $122.94. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.43 and a quick ratio of 4.73.

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

Insider Transactions at Glaukos

In other Glaukos news, Director Leana Wen sold 1,700 shares of the firm’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $143.35, for a total transaction of $243,695.00. Following the completion of the transaction, the director directly owned 19,739 shares in the company, valued at approximately $2,829,585.65. This trade represents a 7.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Alex R. Thurman sold 10,000 shares of Glaukos stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $140.00, for a total transaction of $1,400,000.00. Following the transaction, the chief financial officer owned 43,681 shares of the company’s stock, valued at approximately $6,115,340. The trade was a 18.63% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 61,273 shares of company stock worth $8,882,003. Corporate insiders own 5.90% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on GKOS. Piper Sandler reaffirmed an “overweight” rating and set a $165.00 price objective on shares of Glaukos in a research note on Wednesday, July 1st. Truist Financial lifted their target price on shares of Glaukos from $160.00 to $180.00 and gave the company a “buy” rating in a report on Thursday, July 16th. Wells Fargo & Company boosted their price target on shares of Glaukos from $135.00 to $138.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Needham & Company LLC increased their price target on shares of Glaukos from $136.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, June 17th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Glaukos in a research report on Friday, July 17th. Thirteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Glaukos currently has an average rating of “Moderate Buy” and a consensus price target of $154.85.

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.