Glaukos Corporation $GKOS Shares Purchased by Iron Triangle Partners LP

Iron Triangle Partners LP raised its position in Glaukos Corporation (NYSE:GKOS) by 26.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 342,804 shares of the medical instruments supplier’s stock after purchasing an additional 71,641 shares during the quarter. Glaukos makes up approximately 4.0% of Iron Triangle Partners LP’s holdings, making the stock its 9th biggest position. Iron Triangle Partners LP’s holdings in Glaukos were worth $27,956,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AustralianSuper Pty Ltd increased its holdings in Glaukos by 10.8% in the third quarter. AustralianSuper Pty Ltd now owns 449,846 shares of the medical instruments supplier’s stock worth $36,685,000 after buying an additional 43,750 shares during the last quarter. Riverbridge Partners LLC grew its position in Glaukos by 41.0% in the third quarter. Riverbridge Partners LLC now owns 569,644 shares of the medical instruments supplier’s stock worth $46,454,000 after acquiring an additional 165,673 shares in the last quarter. JPMorgan Chase & Co. grew its position in Glaukos by 4.3% in the third quarter. JPMorgan Chase & Co. now owns 670,083 shares of the medical instruments supplier’s stock worth $54,645,000 after acquiring an additional 27,646 shares in the last quarter. Holocene Advisors LP increased its stake in shares of Glaukos by 40.1% during the 2nd quarter. Holocene Advisors LP now owns 1,045,886 shares of the medical instruments supplier’s stock worth $108,030,000 after purchasing an additional 299,118 shares during the last quarter. Finally, Public Sector Pension Investment Board raised its holdings in shares of Glaukos by 14.8% during the 3rd quarter. Public Sector Pension Investment Board now owns 223,708 shares of the medical instruments supplier’s stock valued at $18,243,000 after purchasing an additional 28,866 shares in the last quarter. 99.04% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Glaukos

In other Glaukos news, COO Joseph E. Gilliam sold 10,498 shares of the company’s stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $127.68, for a total value of $1,340,384.64. Following the completion of the transaction, the chief operating officer owned 92,366 shares of the company’s stock, valued at $11,793,290.88. This represents a 10.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Aimee S. Weisner sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $117.38, for a total value of $1,760,700.00. Following the completion of the sale, the director owned 18,806 shares of the company’s stock, valued at $2,207,448.28. This represents a 44.37% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 320,000 shares of company stock worth $37,202,909. 6.40% of the stock is owned by company insiders.

Glaukos Trading Down 0.9%

Shares of NYSE:GKOS opened at $96.89 on Monday. Glaukos Corporation has a 52-week low of $73.16 and a 52-week high of $130.23. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.06 and a current ratio of 4.69. The company has a market cap of $5.63 billion, a P/E ratio of -29.72 and a beta of 0.70. The stock’s 50-day moving average is $114.63 and its 200-day moving average is $101.29.

Glaukos (NYSE:GKOS) last issued its quarterly earnings results on Tuesday, February 17th. The medical instruments supplier reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.06). The business had revenue of $143.12 million for the quarter, compared to analyst estimates of $132.16 million. Glaukos had a negative return on equity of 7.00% and a negative net margin of 36.99%.The firm’s quarterly revenue was up 35.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.40) earnings per share. Equities research analysts predict that Glaukos Corporation will post -1.08 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on GKOS shares. The Goldman Sachs Group reissued a “buy” rating and set a $138.00 target price on shares of Glaukos in a research report on Friday, January 9th. Stifel Nicolaus increased their price objective on Glaukos from $115.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. UBS Group raised their price objective on Glaukos from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, December 23rd. Citigroup upped their target price on Glaukos from $113.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Finally, Needham & Company LLC increased their price target on Glaukos from $125.00 to $127.00 and gave the company a “buy” rating in a report on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Glaukos presently has an average rating of “Moderate Buy” and a consensus price target of $133.69.

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.