Principal Financial Group Inc. lifted its holdings in shares of Glaukos Corporation (NYSE:GKOS – Free Report) by 2.2% during the first quarter, HoldingsChannel reports. The firm owned 280,737 shares of the medical instruments supplier’s stock after purchasing an additional 6,172 shares during the quarter. Principal Financial Group Inc.’s holdings in Glaukos were worth $30,224,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently added to or reduced their stakes in GKOS. Janus Henderson Group PLC grew its position in Glaukos by 183.4% during the fourth quarter. Janus Henderson Group PLC now owns 3,018,787 shares of the medical instruments supplier’s stock valued at $340,855,000 after buying an additional 1,953,578 shares during the period. Primecap Management Co. CA boosted its stake in Glaukos by 49.8% in the fourth quarter. Primecap Management Co. CA now owns 3,376,928 shares of the medical instruments supplier’s stock valued at $381,289,000 after acquiring an additional 1,123,140 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Glaukos by 209.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,350,425 shares of the medical instruments supplier’s stock valued at $152,476,000 after acquiring an additional 913,458 shares during the last quarter. Millennium Management LLC grew its position in shares of Glaukos by 75.3% during the 4th quarter. Millennium Management LLC now owns 1,609,699 shares of the medical instruments supplier’s stock valued at $181,751,000 after acquiring an additional 691,289 shares during the period. Finally, UBS Group AG grew its position in shares of Glaukos by 316.0% during the 4th quarter. UBS Group AG now owns 873,942 shares of the medical instruments supplier’s stock valued at $98,677,000 after acquiring an additional 663,849 shares during the period. Institutional investors own 99.04% of the company’s stock.
Insider Buying and Selling
In other news, CFO Alex R. Thurman sold 10,000 shares of the company’s 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 sale, the chief financial officer directly owned 43,681 shares in the company, valued at $6,115,340. This represents a 18.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Joseph E. Gilliam sold 19,573 shares of the stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $143.54, for a total transaction of $2,809,508.42. Following the completion of the sale, the chief operating officer directly owned 73,419 shares in the company, valued at approximately $10,538,563.26. The trade was a 21.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 61,273 shares of company stock worth $8,882,003 over the last quarter. 5.90% of the stock is owned by corporate insiders.
Glaukos Price Performance
Glaukos (NYSE:GKOS – Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The medical instruments supplier reported ($0.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.12. The company had revenue of $150.57 million for the quarter, compared to analyst estimates of $137.00 million. Glaukos had a negative return on equity of 6.92% and a negative net margin of 34.34%.The firm’s revenue for the quarter was up 41.2% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.22) EPS. As a group, equities research analysts forecast that Glaukos Corporation will post -0.57 EPS for the current year.
Analyst Ratings Changes
GKOS has been the topic of a number of research reports. Piper Sandler reaffirmed an “overweight” rating and issued a $165.00 price target on shares of Glaukos in a report on Wednesday, July 1st. Citigroup increased their price objective on Glaukos from $162.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Wells Fargo & Company raised their target price on Glaukos from $135.00 to $138.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Glaukos in a research report on Tuesday, April 21st. Finally, JPMorgan Chase & Co. boosted their price objective on Glaukos from $120.00 to $140.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Thirteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $154.85.
Check Out Our Latest Analysis on GKOS
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.
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