Riverbridge Partners LLC Has $46.45 Million Position in Glaukos Corporation $GKOS

Riverbridge Partners LLC increased its position in shares of Glaukos Corporation (NYSE:GKOS) by 41.0% in the 3rd quarter, Holdings Channel.com reports. The fund owned 569,644 shares of the medical instruments supplier’s stock after buying an additional 165,673 shares during the quarter. Riverbridge Partners LLC’s holdings in Glaukos were worth $46,454,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Trust Point Inc. increased its position in Glaukos by 34.8% in the 3rd quarter. Trust Point Inc. now owns 2,905 shares of the medical instruments supplier’s stock worth $237,000 after purchasing an additional 750 shares during the last quarter. Voya Investment Management LLC grew its stake in shares of Glaukos by 18.5% in the 3rd quarter. Voya Investment Management LLC now owns 128,210 shares of the medical instruments supplier’s stock valued at $10,456,000 after buying an additional 20,014 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Glaukos by 1,206.6% in the third quarter. Assenagon Asset Management S.A. now owns 157,545 shares of the medical instruments supplier’s stock worth $12,848,000 after buying an additional 145,487 shares during the last quarter. Corient Private Wealth LLC raised its position in Glaukos by 5.7% during the second quarter. Corient Private Wealth LLC now owns 31,599 shares of the medical instruments supplier’s stock valued at $3,264,000 after acquiring an additional 1,702 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its position in Glaukos by 3.7% during the second quarter. Thrivent Financial for Lutherans now owns 42,017 shares of the medical instruments supplier’s stock valued at $4,340,000 after acquiring an additional 1,518 shares in the last quarter. Hedge funds and other institutional investors own 99.04% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on GKOS. UBS Group set a $165.00 price target on shares of Glaukos in a report on Wednesday. The Goldman Sachs Group assumed coverage on Glaukos in a report on Wednesday, October 1st. They set a “buy” rating and a $103.00 target price on the stock. JPMorgan Chase & Co. upped their price target on Glaukos from $110.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Piper Sandler reissued an “overweight” rating and issued a $61.00 price objective on shares of Glaukos in a research note on Wednesday. Finally, Truist Financial boosted their target price on Glaukos from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday. 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 given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $116.46.

Glaukos Price Performance

Shares of NYSE:GKOS opened at $116.04 on Monday. The company has a market cap of $6.67 billion, a price-to-earnings ratio of -75.35 and a beta of 0.69. The business has a 50 day moving average price of $94.57 and a 200 day moving average price of $93.43. The company has a quick ratio of 4.47, a current ratio of 5.20 and a debt-to-equity ratio of 0.09. Glaukos Corporation has a twelve month low of $73.16 and a twelve month high of $163.71.

Glaukos (NYSE:GKOS) last issued its quarterly earnings results 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 return on equity of 7.52% and a negative net margin of 18.65%.The company had revenue of $133.54 million during the quarter, compared to analyst estimates of $122.55 million. During the same period in the previous year, the company earned ($0.28) earnings per share. The company’s quarterly revenue was up 38.1% compared to the same quarter last year. Research analysts predict that Glaukos Corporation will post -1.08 earnings per share for the current year.

Insider Buying and Selling at Glaukos

In other Glaukos news, CFO Alex R. Thurman sold 315 shares of the firm’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $105.00, for a total value of $33,075.00. Following the sale, the chief financial officer directly owned 50,488 shares in the company, valued at $5,301,240. This trade represents a 0.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gilbert H. Kliman sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $107.27, for a total value of $536,350.00. Following the completion of the sale, the director owned 34,905 shares of the company’s stock, valued at $3,744,259.35. This represents a 12.53% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 24,655 shares of company stock valued at $2,310,025 in the last ninety days. Company insiders own 6.40% 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.