Driehaus Capital Management LLC Lowers Stock Position in Glaukos Co. (NYSE:GKOS)

Driehaus Capital Management LLC cut its position in Glaukos Co. (NYSE:GKOS - Free Report) by 4.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 820,123 shares of the medical instruments supplier's stock after selling 41,484 shares during the quarter. Glaukos comprises about 1.0% of Driehaus Capital Management LLC's holdings, making the stock its 12th largest position. Driehaus Capital Management LLC owned about 1.49% of Glaukos worth $122,969,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Glaukos by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 5,974,971 shares of the medical instruments supplier's stock valued at $895,887,000 after acquiring an additional 101,838 shares during the period. Invesco Ltd. raised its stake in Glaukos by 4.9% during the fourth quarter. Invesco Ltd. now owns 1,458,635 shares of the medical instruments supplier's stock valued at $218,708,000 after buying an additional 68,310 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Glaukos by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 1,197,215 shares of the medical instruments supplier's stock worth $179,555,000 after purchasing an additional 25,199 shares during the last quarter. Gilder Gagnon Howe & Co. LLC raised 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 purchasing an additional 166,677 shares during the last quarter. Finally, Alliancebernstein L.P. grew its holdings in shares of Glaukos by 1,235.4% in the fourth quarter. Alliancebernstein L.P. now owns 816,153 shares of the medical instruments supplier's stock worth $122,374,000 after acquiring an additional 755,035 shares during the period. Institutional investors own 99.04% of the company's stock.

Insider Buying and Selling

In other Glaukos news, insider Tomas Navratil sold 3,416 shares of the business's stock in a transaction dated 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 in the company, valued at approximately $10,658,380.18. The trade was a 4.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Alex R. Thurman sold 1,520 shares of the business's stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $106.84, for a total value of $162,396.80. Following the sale, the chief financial officer now owns 53,431 shares in the company, valued at approximately $5,708,568.04. The trade was a 2.77% decrease in their position. The disclosure for this sale can be found here. 5.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

GKOS has been the subject of several recent research reports. Stephens cut their price target on Glaukos from $140.00 to $115.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. Piper Sandler cut their price target on Glaukos from $180.00 to $165.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Truist Financial restated a "buy" rating and set a $135.00 price target (down previously from $140.00) on shares of Glaukos in a report on Thursday, May 1st. Mizuho cut their price target on Glaukos from $200.00 to $175.00 and set an "outperform" rating for the company in a report on Wednesday, April 16th. Finally, Needham & Company LLC cut their price target on Glaukos from $176.00 to $115.00 and set a "buy" rating for the company in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $134.67.

Glaukos Trading Down 2.2%

Shares of GKOS stock traded down $2.09 on Tuesday, reaching $92.55. 300,327 shares of the company's stock were exchanged, compared to its average volume of 680,914. Glaukos Co. has a 52 week low of $77.10 and a 52 week high of $163.71. 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 has a market capitalization of $5.29 billion, a PE ratio of -32.25 and a beta of 0.83. The company's fifty day simple moving average is $94.52 and its 200 day simple moving average is $127.06.

Glaukos (NYSE:GKOS - Get Free Report) last issued its earnings results on Wednesday, April 30th. The medical instruments supplier reported ($0.22) earnings per share for the quarter, beating analysts' consensus estimates of ($0.33) by $0.11. Glaukos had a negative return on equity of 16.53% and a negative net margin of 39.04%. The business had revenue of $106.66 million during the quarter, compared to analyst estimates of $102.78 million. During the same period in the previous year, the company posted ($0.70) EPS. Glaukos's revenue was up 24.6% on a year-over-year basis. As a group, analysts forecast that Glaukos Co. will post -1.08 EPS for the current year.

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.