First Horizon Advisors Inc. Increases Stock Holdings in Glaukos Corporation (NYSE:GKOS)

First Horizon Advisors Inc. raised its stake in shares of Glaukos Corporation (NYSE:GKOS) by 72.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 377 shares of the medical instruments supplier’s stock after purchasing an additional 159 shares during the quarter. First Horizon Advisors Inc.’s holdings in Glaukos were worth $37,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Mutual of America Capital Management LLC raised its stake in Glaukos by 1.1% in the fourth quarter. Mutual of America Capital Management LLC now owns 8,353 shares of the medical instruments supplier’s stock worth $1,252,000 after buying an additional 89 shares in the last quarter. US Bancorp DE grew its holdings in shares of Glaukos by 8.3% during the 4th quarter. US Bancorp DE now owns 6,099 shares of the medical instruments supplier’s stock worth $914,000 after acquiring an additional 470 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Glaukos by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 650,697 shares of the medical instruments supplier’s stock worth $97,566,000 after acquiring an additional 8,936 shares in the last quarter. Arizona State Retirement System lifted its stake in shares of Glaukos by 10.0% in the 4th quarter. Arizona State Retirement System now owns 15,947 shares of the medical instruments supplier’s stock valued at $2,391,000 after purchasing an additional 1,444 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of Glaukos during the fourth quarter valued at approximately $16,910,000. 99.04% of the stock is owned by hedge funds and other institutional investors.

Glaukos Price Performance

NYSE GKOS opened at $101.69 on Tuesday. Glaukos Corporation has a one year low of $77.10 and a one year high of $163.71. The stock has a 50-day moving average of $96.00 and a 200 day moving average of $115.20. The company has a debt-to-equity ratio of 0.09, a quick ratio of 5.62 and a current ratio of 6.49. The company has a market capitalization of $5.81 billion, a price-to-earnings ratio of -42.91 and a beta of 0.82.

Glaukos (NYSE:GKOS) last announced its quarterly earnings results on Wednesday, April 30th. The medical instruments supplier reported ($0.22) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.11. Glaukos had a negative net margin of 31.40% and a negative return on equity of 10.66%. The firm had revenue of $106.66 million for the quarter, compared to the consensus estimate of $102.78 million. During the same quarter last year, the firm posted ($0.70) EPS. The business’s quarterly revenue was up 24.6% compared to the same quarter last year. On average, sell-side analysts forecast that Glaukos Corporation will post -1.08 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on GKOS shares. Wells Fargo & Company downgraded Glaukos from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $160.00 to $86.00 in a report on Thursday, May 1st. Mizuho dropped their price objective on shares of Glaukos from $200.00 to $175.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 16th. Needham & Company LLC decreased their target price on shares of Glaukos from $176.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Stephens dropped their price target on Glaukos from $140.00 to $115.00 and set an “overweight” rating on the stock in a research report on Friday, May 2nd. Finally, Truist Financial reaffirmed a “buy” rating and set a $135.00 price objective (down previously from $140.00) on shares of Glaukos in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy 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 $134.67.

About Glaukos

Glaukos Corporation, an ophthalmic pharmaceutical and medical technology company, focuses on the development of novel therapies for the treatment of glaucoma, corneal disorders, and retinal diseases. It offers iStent and iStent inject W micro-bypass stents that enhance aqueous humor outflow inserted in cataract surgery to treat mild-to-moderate open-angle glaucoma.