Glaukos Co. (NYSE:GKOS) Holdings Cut by Riverbridge Partners LLC

Riverbridge Partners LLC lowered its stake in shares of Glaukos Co. (NYSE:GKOS) by 34.4% in the fourth quarter, HoldingsChannel reports. The firm owned 312,931 shares of the medical instruments supplier’s stock after selling 163,751 shares during the quarter. Riverbridge Partners LLC’s holdings in Glaukos were worth $46,921,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the stock. Values First Advisors Inc. acquired a new position in Glaukos during the 3rd quarter worth $25,000. Harvest Fund Management Co. Ltd raised its stake in shares of Glaukos by 2,263.2% during the third quarter. Harvest Fund Management Co. Ltd now owns 898 shares of the medical instruments supplier’s stock valued at $117,000 after purchasing an additional 860 shares in the last quarter. KBC Group NV lifted its holdings in Glaukos by 16.2% in the third quarter. KBC Group NV now owns 1,445 shares of the medical instruments supplier’s stock worth $188,000 after purchasing an additional 201 shares during the period. Zhang Financial LLC bought a new position in Glaukos in the 4th quarter valued at about $221,000. Finally, EWA LLC acquired a new position in Glaukos during the 3rd quarter valued at about $209,000. 99.04% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Gilbert H. Kliman sold 2,000 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $144.01, for a total value of $288,020.00. Following the completion of the sale, the director now directly owns 32,336 shares in the company, valued at approximately $4,656,707.36. This represents a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Joseph E. Gilliam sold 3,328 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $149.85, for a total value of $498,700.80. Following the transaction, the chief operating officer now owns 102,169 shares in the company, valued at approximately $15,310,024.65. This trade represents a 3.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,603 shares of company stock worth $2,605,678. Corporate insiders own 6.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Morgan Stanley lowered shares of Glaukos from an “equal weight” rating to an “underweight” rating and set a $120.00 price objective on the stock. in a research note on Monday, December 2nd. BTIG Research boosted their price objective on Glaukos from $140.00 to $149.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. StockNews.com raised Glaukos from a “sell” rating to a “hold” rating in a research note on Monday, October 21st. JPMorgan Chase & Co. raised their price objective on shares of Glaukos from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Finally, Truist Financial boosted their target price on shares of Glaukos from $152.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $147.75.

Glaukos Trading Up 0.6 %

Shares of GKOS stock opened at $160.25 on Thursday. Glaukos Co. has a 1-year low of $83.90 and a 1-year high of $161.30. The company has a current ratio of 5.54, a quick ratio of 4.71 and a debt-to-equity ratio of 0.19. The stock’s fifty day simple moving average is $146.86 and its 200-day simple moving average is $134.31.

Glaukos (NYSE:GKOS) last issued its earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.20. The company had revenue of $96.70 million for the quarter, compared to the consensus estimate of $91.50 million. Glaukos had a negative return on equity of 18.99% and a negative net margin of 42.43%. The firm’s quarterly revenue was up 23.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.50) EPS. On average, sell-side analysts expect that Glaukos Co. will post -1.89 earnings per share for the current fiscal year.

Glaukos Company 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.