Granite Investment Partners LLC Increases Stake in Glaukos Corporation on July 30, 2023
August 7, 2023
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Granite Investment Partners LLC announced on July 30, 2023, that it had increased its stake in Glaukos Corporation ($NYSE:GKOS), a medical devices company dedicated to developing and commercializing technologies to treat glaucoma and other diseases of the eye. Glaukos Corporation’s portfolio of products includes both micro-invasive glaucoma surgeries and systems such as the iStent, iStent inject, ab-interno canaloplasty, and the iStent supra. These products have become an integral part of the Glaukos Corporation’s offerings, allowing physicians to provide treatments that are highly effective while still preserving patient comfort. Glaukos Corporation also owns and operates several research and development centers around the world, which are dedicated to advancing the field of ophthalmology.
The increased stake by Granite Investment Partners LLC signals a strong belief in Glaukos Corporation’s potential for future growth. This vote of confidence from an experienced investment firm is a testament to Glaukos Corporation’s commitment to providing the highest quality products and services to its customers. As Glaukos Corporation continues to grow and expand its offerings, it looks to be an exciting time for both investors and patients alike.
Stock Price
The stock opened that day at $76.7 and closed at $77.1, representing an increase of 1.0% from the prior closing price of 76.4. This has been welcomed news for Glaukos Corporation shareholders who have seen the stock gaining momentum in recent weeks. The announcement by Granite Investment Partners LLC has been seen as a positive sign for Glaukos Corporation, as it suggests confidence in the company’s long-term prospects.
This could signify a shift in sentiment towards the company, as investors are increasingly optimistic about its future. It remains to be seen if this positive trend will continue in the coming weeks. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Glaukos Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 296.79 | -126.47 | -40.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Glaukos Corporation. More…
| Operations | Investing | Financing |
| -69.58 | 53.16 | 5.01 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Glaukos Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 956.74 | 467.93 | 10.14 |
Key Ratios Snapshot
Some of the financial key ratios for Glaukos Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 12.0% | – | -37.5% |
| FCF Margin | ROE | ROA |
| -32.5% | -14.0% | -7.3% |
Analysis
GoodWhale has conducted an analysis on GLAUKOS CORPORATION‘s wellbeing. Using our proprietary Star Chart tool, we’ve classified GLAUKOS CORPORATION as an ‘elephant’, a type of company with substantial assets after deducting off liabilities. We believe investors who focus on growth might be interested in such a company. GLAUKOS CORPORATION is strong in growth, and medium in asset and weak in dividend and profitability. However, considering its cashflows and debt, our evaluation gives GLAUKOS CORPORATION an intermediate health score of 4/10, suggesting that it might be able to safely ride out any crisis without the risk of bankruptcy. More…
Peers
The medical device industry is fiercely competitive, with companies vying for market share in a variety of therapeutic areas. Glaukos Corp, a medical device company specializing in ophthalmology, is no exception. The company competes with Motus GI Holdings Inc, Somnics Inc, and enVVeno Medical Corp in the development and commercialization of devices for the treatment of glaucoma, a condition in which the pressure inside the eye is elevated. Glaukos has a significant market share in the United States, but its competitors are quickly gaining ground. In order to maintain its position as a leader in the industry, Glaukos must continue to innovate and bring new products to market.
– Motus GI Holdings Inc ($NASDAQ:MOTS)
Motus GI Holdings Inc is a medical technology company that develops GI endoscopy products. The company’s GI products are designed to improve the quality of GI procedures and patient outcomes. Motus GI’s products are used by gastroenterologists and other GI specialists to treat a variety of GI disorders.
– Somnics Inc ($NASDAQ:NVNO)
Veno Medical Corp is a publicly traded company that focuses on the development and commercialization of minimally invasive solutions for the treatment of venous diseases. The company’s market cap as of 2022 was 56.22M, and its ROE was -38.47%. Veno Medical Corp’s products are designed to improve patient outcomes and reduce the costs associated with venous diseases. The company’s products are sold in over 30 countries worldwide.
Summary
Granite Investment Partners LLC recently increased its stake in Glaukos Corporation, a leading provider of medical instruments. In doing so, they join a growing movement of investors who recognize the potential of this pioneering organization. Analysts have noted Glaukos’ strong balance sheet, consistent revenues, and reliable customer base as factors that make the company an attractive investment option.
Furthermore, its commitment to research and development, as well as its reputation for providing innovative technology and superior customer service, stand out among its peers. As such, Glaukos is well-positioned to remain on the cutting edge of the medical instruments industry and continue to deliver high returns for investors.
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