Arizona State Retirement System Has $1.56 Million Stock Position in Glaukos Corporation (NYSE:GKOS)

Arizona State Retirement System lowered its position in shares of Glaukos Corporation (NYSE:GKOS) by 0.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,816 shares of the medical instruments supplier’s stock after selling 131 shares during the quarter. Arizona State Retirement System’s holdings in Glaukos were worth $1,557,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in GKOS. Bessemer Group Inc. increased its position in shares of Glaukos by 133.9% during the 1st quarter. Bessemer Group Inc. now owns 276 shares of the medical instruments supplier’s stock worth $27,000 after purchasing an additional 158 shares in the last quarter. Whipplewood Advisors LLC increased its position in Glaukos by 3,957.1% in the 1st quarter. Whipplewood Advisors LLC now owns 284 shares of the medical instruments supplier’s stock valued at $28,000 after acquiring an additional 277 shares in the last quarter. First Horizon Advisors Inc. increased its position in Glaukos by 72.9% in the 1st quarter. First Horizon Advisors Inc. now owns 377 shares of the medical instruments supplier’s stock valued at $37,000 after acquiring an additional 159 shares in the last quarter. Versant Capital Management Inc increased its position in Glaukos by 583.9% in the 1st quarter. Versant Capital Management Inc now owns 383 shares of the medical instruments supplier’s stock valued at $38,000 after acquiring an additional 327 shares in the last quarter. Finally, CoreCap Advisors LLC increased its position in Glaukos by 36.4% in the 4th quarter. CoreCap Advisors LLC now owns 750 shares of the medical instruments supplier’s stock valued at $112,000 after acquiring an additional 200 shares in the last quarter. Institutional investors and hedge funds own 99.04% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Morgan Stanley lowered their price objective on shares of Glaukos from $110.00 to $72.00 and set an “underweight” rating for the company in a research report on Tuesday, May 6th. Truist Financial restated a “buy” rating and issued a $135.00 price objective (down previously from $140.00) on shares of Glaukos in a research report on Thursday, May 1st. Mizuho lowered their price objective on shares of Glaukos from $200.00 to $175.00 and set an “outperform” rating for the company in a research report on Wednesday, April 16th. Stifel Nicolaus lowered their price objective on shares of Glaukos from $140.00 to $115.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Finally, Wells Fargo & Company cut shares of Glaukos from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $160.00 to $86.00 in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $134.67.

Glaukos Stock Down 1.3%

Glaukos stock opened at $97.76 on Friday. The company’s 50 day simple moving average is $98.28 and its 200 day simple moving average is $112.66. Glaukos Corporation has a fifty-two week low of $77.10 and a fifty-two week high of $163.71. The firm has a market capitalization of $5.59 billion, a price-to-earnings ratio of -41.25 and a beta of 0.82. The company has a debt-to-equity ratio of 0.09, a current ratio of 6.49 and a quick ratio of 5.62.

Glaukos (NYSE:GKOS) last released its quarterly earnings data on Wednesday, April 30th. The medical instruments supplier reported ($0.22) earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $106.66 million for the quarter, compared to analyst estimates of $102.78 million. During the same quarter last year, the firm earned ($0.70) EPS. Glaukos’s quarterly revenue was up 24.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Glaukos Corporation will post -1.08 EPS for the current year.

Glaukos Profile

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.