Allspring Global Investments Holdings LLC Reduces Holdings in Glaukos Corporation (NYSE:GKOS)

Allspring Global Investments Holdings LLC decreased its position in shares of Glaukos Corporation (NYSE:GKOS - Free Report) by 6.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 320,758 shares of the medical instruments supplier's stock after selling 21,735 shares during the period. Allspring Global Investments Holdings LLC owned 0.57% of Glaukos worth $31,142,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Bessemer Group Inc. boosted its stake in Glaukos by 133.9% in the 1st quarter. Bessemer Group Inc. now owns 276 shares of the medical instruments supplier's stock worth $27,000 after purchasing an additional 158 shares during the period. Whipplewood Advisors LLC grew its position in Glaukos by 3,957.1% during the first quarter. Whipplewood Advisors LLC now owns 284 shares of the medical instruments supplier's stock valued at $28,000 after purchasing an additional 277 shares in the last quarter. IFP Advisors Inc acquired a new position in shares of Glaukos in the fourth quarter worth $43,000. Versant Capital Management Inc raised its stake in shares of Glaukos by 583.9% during the 1st quarter. Versant Capital Management Inc now owns 383 shares of the medical instruments supplier's stock worth $38,000 after purchasing an additional 327 shares in the last quarter. Finally, CoreCap Advisors LLC lifted its holdings in shares of Glaukos by 36.4% during the 4th quarter. CoreCap Advisors LLC now owns 750 shares of the medical instruments supplier's stock valued at $112,000 after buying an additional 200 shares during the last quarter. 99.04% of the stock is currently owned by institutional investors and hedge funds.

Glaukos Stock Performance

GKOS stock traded down $0.13 on Friday, reaching $103.50. 289,937 shares of the company were exchanged, compared to its average volume of 739,359. The firm has a market capitalization of $5.91 billion, a PE ratio of -43.67 and a beta of 0.82. Glaukos Corporation has a 12 month low of $77.10 and a 12 month high of $163.71. The stock's fifty day moving average price is $95.84 and its 200 day moving average price is $115.95. The company has a debt-to-equity ratio of 0.09, a current ratio of 6.49 and a quick ratio of 5.62.

Glaukos (NYSE:GKOS - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The medical instruments supplier reported ($0.22) EPS for the quarter, beating analysts' consensus estimates of ($0.33) by $0.11. The business had revenue of $106.66 million during the quarter, compared to analyst estimates of $102.78 million. Glaukos had a negative net margin of 31.40% and a negative return on equity of 10.66%. The firm's revenue for the quarter was up 24.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.70) earnings per share. On average, research analysts anticipate that Glaukos Corporation will post -1.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Needham & Company LLC reduced their target price on shares of Glaukos from $176.00 to $115.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Piper Sandler reduced their price objective 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. Wells Fargo & Company cut shares of Glaukos from an "overweight" rating to an "equal weight" rating and decreased their price objective for the stock from $160.00 to $86.00 in a report on Thursday, May 1st. Mizuho cut their target price on Glaukos from $200.00 to $175.00 and set an "outperform" rating on the stock in a report on Wednesday, April 16th. Finally, Truist Financial reiterated a "buy" rating and set a $135.00 price target (down previously from $140.00) on shares of Glaukos in a research note on Thursday, May 1st. One equities research 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. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $134.67.

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.