Rhenman & Partners Asset Management AB Trims Stock Position in Glaukos Corporation $GKOS

Rhenman & Partners Asset Management AB lessened its position in Glaukos Corporation (NYSE:GKOS) by 8.7% during the fourth quarter, Holdings Channel reports. The fund owned 210,000 shares of the medical instruments supplier’s stock after selling 20,000 shares during the period. Glaukos comprises 2.2% of Rhenman & Partners Asset Management AB’s holdings, making the stock its 9th biggest holding. Rhenman & Partners Asset Management AB’s holdings in Glaukos were worth $23,711,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in GKOS. AQR Capital Management LLC increased its stake in Glaukos by 2.6% in the first quarter. AQR Capital Management LLC now owns 7,788 shares of the medical instruments supplier’s stock valued at $766,000 after acquiring an additional 198 shares during the last quarter. Jones Financial Companies Lllp increased its stake in Glaukos by 1,405.9% in the first quarter. Jones Financial Companies Lllp now owns 2,560 shares of the medical instruments supplier’s stock valued at $252,000 after acquiring an additional 2,390 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Glaukos by 41.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 229,994 shares of the medical instruments supplier’s stock valued at $22,636,000 after acquiring an additional 67,668 shares during the last quarter. M&T Bank Corp bought a new position in Glaukos in the second quarter valued at $203,000. Finally, Gamco Investors INC. ET AL increased its stake in Glaukos by 10.7% in the second quarter. Gamco Investors INC. ET AL now owns 8,001 shares of the medical instruments supplier’s stock valued at $826,000 after acquiring an additional 773 shares during the last quarter. Institutional investors own 99.04% of the company’s stock.

Glaukos Stock Up 2.0%

Shares of NYSE:GKOS opened at $126.76 on Friday. The stock’s 50-day moving average price is $124.00 and its 200-day moving average price is $116.18. Glaukos Corporation has a 12-month low of $73.16 and a 12-month high of $148.11. The stock has a market capitalization of $7.44 billion, a P/E ratio of -38.65 and a beta of 0.82. The company has a current ratio of 5.43, a quick ratio of 4.73 and a debt-to-equity ratio of 0.10.

Glaukos (NYSE:GKOS) last announced 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. Glaukos had a negative return on equity of 6.92% and a negative net margin of 34.34%.The firm had revenue of $150.57 million for the quarter, compared to analysts’ expectations of $137.00 million. During the same period last year, the firm earned ($0.22) earnings per share. The company’s revenue for the quarter was up 41.2% compared to the same quarter last year. On average, equities analysts anticipate that Glaukos Corporation will post -0.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Wall Street Zen raised Glaukos from a “hold” rating to a “buy” rating in a research note on Saturday. Citigroup raised their price objective on Glaukos from $140.00 to $162.00 and gave the company a “buy” rating in a research note on Thursday. Stifel Nicolaus set a $170.00 price objective on Glaukos in a research note on Thursday, April 30th. Needham & Company LLC raised their price objective on Glaukos from $127.00 to $136.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Finally, William Blair reaffirmed an “outperform” rating on shares of Glaukos in a research note on Tuesday, May 26th. Twelve analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $148.00.

Insider Buying and Selling

In related news, Director Leana Wen sold 1,700 shares of the firm’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $143.35, for a total value of $243,695.00. Following the sale, the director directly owned 19,739 shares of the company’s stock, valued at $2,829,585.65. This trade represents a 7.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gilbert H. Kliman sold 5,000 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $140.76, for a total value of $703,800.00. Following the completion of the sale, the director directly owned 35,528 shares in the company, valued at $5,000,921.28. The trade was a 12.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 45,930 shares of company stock valued at $6,321,363 over the last three months. 5.90% of the stock is owned by corporate insiders.

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.