Zweig DiMenna Associates LLC Trims Stake in Glaukos Corporation $GKOS

Zweig DiMenna Associates LLC lowered its position in Glaukos Corporation (NYSE:GKOS) by 85.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 8,600 shares of the medical instruments supplier’s stock after selling 52,200 shares during the period. Zweig DiMenna Associates LLC’s holdings in Glaukos were worth $888,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Amalgamated Bank increased its stake in Glaukos by 3.2% in the 2nd quarter. Amalgamated Bank now owns 15,996 shares of the medical instruments supplier’s stock worth $1,652,000 after buying an additional 490 shares during the period. AustralianSuper Pty Ltd purchased a new position in Glaukos in the 2nd quarter worth about $41,946,000. Teacher Retirement System of Texas increased its stake in Glaukos by 3.3% in the 2nd quarter. Teacher Retirement System of Texas now owns 19,948 shares of the medical instruments supplier’s stock worth $2,060,000 after buying an additional 628 shares during the period. Bessemer Group Inc. increased its stake in Glaukos by 2,270.3% in the 2nd quarter. Bessemer Group Inc. now owns 6,542 shares of the medical instruments supplier’s stock worth $675,000 after buying an additional 6,266 shares during the period. Finally, Envestnet Asset Management Inc. increased its stake in Glaukos by 72.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 48,439 shares of the medical instruments supplier’s stock worth $5,003,000 after buying an additional 20,401 shares during the period. 99.04% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GKOS. Truist Financial set a $120.00 price target on shares of Glaukos in a research note on Thursday. JPMorgan Chase & Co. raised their price target on shares of Glaukos from $110.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday. Stifel Nicolaus set a $115.00 price target on shares of Glaukos in a research note on Monday, October 27th. BTIG Research raised their price target on shares of Glaukos from $104.00 to $116.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, UBS Group increased their target price on shares of Glaukos from $125.00 to $134.00 and gave the stock a “buy” rating in a report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $118.62.

Glaukos Stock Up 0.6%

Shares of Glaukos stock opened at $88.29 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 5.51 and a quick ratio of 4.69. Glaukos Corporation has a 1 year low of $73.16 and a 1 year high of $163.71. The firm’s 50-day moving average is $85.43 and its two-hundred day moving average is $91.52. The stock has a market cap of $5.06 billion, a price-to-earnings ratio of -57.33 and a beta of 0.76.

Glaukos (NYSE:GKOS) last issued its earnings results on Wednesday, October 29th. The medical instruments supplier reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.11. Glaukos had a negative net margin of 18.65% and a negative return on equity of 7.53%. The company had revenue of $133.54 million for the quarter, compared to analysts’ expectations of $122.55 million. During the same period in the prior year, the business earned ($0.28) EPS. The firm’s quarterly revenue was up 38.1% on a year-over-year basis. Glaukos has set its FY 2025 guidance at EPS. As a group, research analysts expect that Glaukos Corporation will post -1.08 earnings per share for the current fiscal year.

About Glaukos

Glaukos Corporation, an ophthalmic pharmaceutical and medical technology company, focuses on the development of novel therapies for the treatment of glaucoma, corneal disorders, and retinal diseases. It offers iStent and iStent inject W micro-bypass stents that enhance aqueous humor outflow inserted in cataract surgery to treat mild-to-moderate open-angle glaucoma.