Comerica Bank Buys 131,715 Shares of Glaukos Co. (NYSE:GKOS)

Comerica Bank lifted its stake in Glaukos Co. (NYSE:GKOS - Free Report) by 664.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 151,538 shares of the medical instruments supplier's stock after purchasing an additional 131,715 shares during the quarter. Comerica Bank owned 0.27% of Glaukos worth $22,722,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. Lido Advisors LLC increased its position in Glaukos by 0.8% in the 4th quarter. Lido Advisors LLC now owns 16,542 shares of the medical instruments supplier's stock worth $2,480,000 after purchasing an additional 131 shares during the last quarter. Northern Trust Corp raised its holdings in Glaukos by 7.4% during the fourth quarter. Northern Trust Corp now owns 578,673 shares of the medical instruments supplier's stock valued at $86,766,000 after buying an additional 40,052 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Glaukos in the 4th quarter valued at approximately $1,903,000. Gilder Gagnon Howe & Co. LLC lifted its stake in shares of Glaukos by 25.3% in the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 825,276 shares of the medical instruments supplier's stock worth $123,742,000 after buying an additional 166,677 shares during the last quarter. Finally, Coldstream Capital Management Inc. acquired a new position in Glaukos during the 4th quarter worth $208,000. 99.04% of the stock is currently owned by institutional investors and hedge funds.

Glaukos Stock Down 0.3 %

GKOS traded down $0.22 during trading on Tuesday, reaching $86.64. The company had a trading volume of 239,257 shares, compared to its average volume of 673,914. The company has a market cap of $4.95 billion, a P/E ratio of -30.20 and a beta of 0.88. Glaukos Co. has a 12 month low of $77.10 and a 12 month high of $163.71. The company has a debt-to-equity ratio of 0.19, a current ratio of 5.54 and a quick ratio of 4.71. The business's fifty day moving average price is $96.93 and its 200 day moving average price is $128.49.

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

Insider Buying and Selling

In other news, CFO Alex R. Thurman sold 1,520 shares of the business's stock in a transaction that occurred on Tuesday, March 25th. The stock was 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. The trade was a 2.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Tomas Navratil sold 3,416 shares of the company's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $147.14, for a total value of $502,630.24. Following the completion of the transaction, the insider now directly owns 72,437 shares in the company, valued at approximately $10,658,380.18. This represents a 4.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on GKOS shares. Wells Fargo & Company cut Glaukos from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $160.00 to $86.00 in a research report on Thursday, May 1st. Truist Financial reiterated a "buy" rating and set a $135.00 price objective (down from $140.00) on shares of Glaukos in a research note on Thursday, May 1st. Piper Sandler cut their target price on shares of Glaukos from $180.00 to $165.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. Stifel Nicolaus reduced their price target on shares of Glaukos from $140.00 to $115.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Finally, Needham & Company LLC lowered their target price on Glaukos from $176.00 to $115.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $133.92.

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.