Illinois Municipal Retirement Fund Lowers Holdings in Glaukos Corporation $GKOS

Illinois Municipal Retirement Fund cut its holdings in shares of Glaukos Corporation (NYSE:GKOS) by 23.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,244 shares of the medical instruments supplier’s stock after selling 8,657 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Glaukos were worth $2,917,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of GKOS. Nuveen LLC purchased a new stake in Glaukos during the 1st quarter worth about $31,474,000. Ehrlich Financial Group purchased a new stake in shares of Glaukos during the second quarter worth approximately $1,034,000. Royal Bank of Canada raised its holdings in Glaukos by 103.2% in the first quarter. Royal Bank of Canada now owns 228,249 shares of the medical instruments supplier’s stock valued at $22,464,000 after acquiring an additional 115,939 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Glaukos in the first quarter valued at approximately $307,000. Finally, LPL Financial LLC grew its stake in shares of Glaukos by 25.1% during the first quarter. LPL Financial LLC now owns 15,775 shares of the medical instruments supplier’s stock worth $1,553,000 after purchasing an additional 3,163 shares in the last quarter. Institutional investors and hedge funds own 99.04% of the company’s stock.

Glaukos Stock Down 1.1%

Glaukos stock opened at $91.59 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 company has a market cap of $5.26 billion, a PE ratio of -59.47 and a beta of 0.81. The stock’s 50 day moving average price is $84.18 and its 200 day moving average price is $91.26.

Glaukos (NYSE:GKOS) last released its quarterly earnings data on Wednesday, October 29th. The medical instruments supplier reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $133.54 million for the quarter, compared to the consensus estimate of $122.55 million. During the same quarter in the previous year, the firm earned ($0.28) earnings per share. The firm’s revenue was up 38.1% on a year-over-year basis. Glaukos has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that Glaukos Corporation will post -1.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on GKOS shares. Wells Fargo & Company lifted their price target on Glaukos from $120.00 to $122.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. UBS Group reissued a “buy” rating and set a $140.00 price objective on shares of Glaukos in a report on Monday. BTIG Research upped their target price on shares of Glaukos from $104.00 to $116.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Zacks Research lowered shares of Glaukos from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 15th. Finally, Citigroup raised their price objective on Glaukos from $110.00 to $113.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Glaukos presently has a consensus rating of “Moderate Buy” and an average price target of $119.08.

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.