Baird Financial Group Inc. Trims Stock Holdings in Glaukos Co. (NYSE:GKOS)

Baird Financial Group Inc. decreased its position in shares of Glaukos Co. (NYSE:GKOS - Free Report) by 27.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 54,591 shares of the medical instruments supplier's stock after selling 20,944 shares during the quarter. Baird Financial Group Inc. owned approximately 0.10% of Glaukos worth $8,185,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in GKOS. IFP Advisors Inc acquired a new stake in shares of Glaukos in the fourth quarter valued at about $43,000. Asset Planning Inc bought a new stake in shares of Glaukos in the fourth quarter valued at approximately $90,000. Picton Mahoney Asset Management bought a new stake in Glaukos during the fourth quarter worth $125,000. SBI Securities Co. Ltd. bought a new stake in Glaukos during the fourth quarter worth $153,000. Finally, Smartleaf Asset Management LLC increased its holdings in Glaukos by 275.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,100 shares of the medical instruments supplier's stock valued at $164,000 after purchasing an additional 807 shares during the period. Institutional investors and hedge funds own 99.04% of the company's stock.

Glaukos Stock Performance

Shares of Glaukos stock traded up $0.65 during mid-day trading on Wednesday, hitting $93.01. 251,136 shares of the stock were exchanged, compared to its average volume of 682,519. Glaukos Co. has a 12 month low of $77.10 and a 12 month high of $163.71. The company has a 50-day simple moving average of $94.30 and a 200 day simple moving average of $126.82. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.71 and a current ratio of 5.54. The company has a market capitalization of $5.31 billion, a P/E ratio of -32.41 and a beta of 0.83.

Glaukos (NYSE:GKOS - Get Free Report) last posted its earnings results on Wednesday, April 30th. The medical instruments supplier reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.11. Glaukos had a negative net margin of 39.04% and a negative return on equity of 16.53%. The firm had revenue of $106.66 million for the quarter, compared to analysts' expectations of $102.78 million. During the same quarter last year, the firm earned ($0.70) EPS. The company's quarterly revenue was up 24.6% compared to the same quarter last year. Sell-side analysts anticipate that Glaukos Co. will post -1.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Alex R. Thurman sold 1,520 shares of the firm's stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $106.84, for a total transaction of $162,396.80. Following the completion of the sale, the chief financial officer now owns 53,431 shares in the company, valued at $5,708,568.04. This trade represents a 2.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Tomas Navratil sold 3,416 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $147.14, for a total transaction of $502,630.24. Following the sale, the insider now owns 72,437 shares of the company's stock, valued at approximately $10,658,380.18. The trade was a 4.50% decrease in their position. The disclosure for this sale can be found here. Insiders own 5.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Stifel Nicolaus decreased their price target on Glaukos from $140.00 to $115.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Wells Fargo & Company downgraded Glaukos from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $160.00 to $86.00 in a report on Thursday, May 1st. Needham & Company LLC cut their price objective on shares of Glaukos from $176.00 to $115.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Morgan Stanley cut their price objective on shares of Glaukos from $110.00 to $72.00 and set an "underweight" rating on the stock in a research report on Tuesday, May 6th. Finally, Stephens cut their price objective on shares of Glaukos from $140.00 to $115.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Glaukos presently has an average rating of "Moderate Buy" and a consensus price target of $134.67.

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.