Jupiter Topco LLC Purchases New Stake in Glaukos Corporation $GKOS

Jupiter Topco LLC purchased a new position in Glaukos Corporation (NYSE:GKOS) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 4,862,894 shares of the medical instruments supplier’s stock, valued at approximately $679,614,000. Jupiter Topco LLC owned about 8.24% of Glaukos as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of GKOS. Stephens Inc. AR purchased a new position in Glaukos during the 1st quarter valued at about $363,000. DNB Asset Management AS lifted its holdings in Glaukos by 11.9% in the 4th quarter. DNB Asset Management AS now owns 82,320 shares of the medical instruments supplier’s stock worth $9,295,000 after buying an additional 8,770 shares during the period. Quantinno Capital Management LP grew its position in shares of Glaukos by 964.0% in the 1st quarter. Quantinno Capital Management LP now owns 30,836 shares of the medical instruments supplier’s stock worth $3,320,000 after buying an additional 27,938 shares during the last quarter. Landscape Capital Management L.L.C. grew its position in shares of Glaukos by 125.3% in the 4th quarter. Landscape Capital Management L.L.C. now owns 23,017 shares of the medical instruments supplier’s stock worth $2,599,000 after buying an additional 12,799 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of Glaukos by 209.0% during 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 buying an additional 913,458 shares during the period. Hedge funds and other institutional investors own 99.04% of the company’s stock.

Glaukos Price Performance

Shares of NYSE GKOS opened at $181.48 on Wednesday. The company has a 50 day simple moving average of $159.57 and a two-hundred day simple moving average of $132.67. Glaukos Corporation has a fifty-two week low of $73.16 and a fifty-two week high of $191.62. The company has a market capitalization of $10.70 billion, a price-to-earnings ratio of -55.84 and a beta of 0.78. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.46 and a current ratio of 5.04.

Glaukos (NYSE:GKOS) last issued its quarterly earnings results on Wednesday, July 29th. The medical instruments supplier reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.07. Glaukos had a negative return on equity of 6.37% and a negative net margin of 30.68%.The firm had revenue of $185.61 million for the quarter, compared to analysts’ expectations of $150.93 million. During the same period in the previous year, the firm posted ($0.24) EPS. The business’s revenue for the quarter was up 49.6% compared to the same quarter last year. Analysts expect that Glaukos Corporation will post -0.32 EPS for the current fiscal year.

Insider Buying and Selling

In other Glaukos news, Director Gilbert H. Kliman sold 2,500 shares of Glaukos stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $190.00, for a total value of $475,000.00. Following the completion of the transaction, the director directly owned 37,406 shares of the company’s stock, valued at approximately $7,107,140. The trade was a 6.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Leana Wen sold 525 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $167.63, for a total transaction of $88,005.75. Following the completion of the transaction, the director owned 21,092 shares in the company, valued at approximately $3,535,651.96. This represents a 2.43% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 113,025 shares of company stock valued at $19,600,006. Insiders own 5.90% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. BTIG Research raised their price target on Glaukos from $193.00 to $202.00 and gave the stock a “buy” rating in a research note on Thursday, August 20th. William Blair restated an “outperform” rating on shares of Glaukos in a report on Tuesday, May 26th. HC Wainwright raised their target price on shares of Glaukos from $168.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Truist Financial lifted their target price on shares of Glaukos from $180.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Finally, Piper Sandler reiterated an “overweight” rating and set a $195.00 price target (up from $165.00) on shares of Glaukos in a research report on Thursday, July 30th. Twelve research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $178.08.

Glaukos Company 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.