Bank of New York Mellon Corp Sells 29,584 Shares of Glaukos Corporation (NYSE:GKOS)

Bank of New York Mellon Corp lowered its position in shares of Glaukos Corporation (NYSE:GKOS - Free Report) by 7.4% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 368,258 shares of the medical instruments supplier's stock after selling 29,584 shares during the quarter. Bank of New York Mellon Corp owned about 0.65% of Glaukos worth $36,244,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of GKOS. William Blair Investment Management LLC acquired a new position in Glaukos in the fourth quarter valued at about $121,390,000. Alliancebernstein L.P. grew its position in Glaukos by 1,235.4% in the fourth quarter. Alliancebernstein L.P. now owns 816,153 shares of the medical instruments supplier's stock valued at $122,374,000 after acquiring an additional 755,035 shares during the last quarter. Norges Bank bought a new position in Glaukos in the fourth quarter valued at about $84,490,000. Gilder Gagnon Howe & Co. LLC grew its position in 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 valued at $123,742,000 after acquiring an additional 166,677 shares during the last quarter. Finally, Voya Investment Management LLC grew its position in Glaukos by 266.2% in the fourth quarter. Voya Investment Management LLC now owns 200,698 shares of the medical instruments supplier's stock valued at $30,093,000 after acquiring an additional 145,890 shares during the last quarter. Institutional investors and hedge funds own 99.04% of the company's stock.

Wall Street Analysts Forecast Growth

GKOS has been the topic of a number of recent analyst reports. Wells Fargo & Company cut Glaukos from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $160.00 to $86.00 in a research report on Thursday, May 1st. Mizuho lowered their price objective on Glaukos from $200.00 to $175.00 and set an "outperform" rating for the company in a research note on Wednesday, April 16th. Piper Sandler dropped their price objective on shares of Glaukos from $180.00 to $165.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. BTIG Research reiterated a "buy" rating on shares of Glaukos in a report on Monday. Finally, Morgan Stanley dropped their price objective on shares of Glaukos from $110.00 to $72.00 and set an "underweight" rating for the company in a report on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, Glaukos has an average rating of "Moderate Buy" and an average price target of $134.67.

Glaukos Trading Down 0.9%

Glaukos stock traded down $0.85 during trading hours on Friday, reaching $98.16. 237,138 shares of the company's stock were exchanged, compared to its average volume of 746,835. The company has a quick ratio of 5.62, a current ratio of 6.49 and a debt-to-equity ratio of 0.09. The firm's 50 day simple moving average is $98.13 and its 200 day simple moving average is $113.02. Glaukos Corporation has a twelve month low of $77.10 and a twelve month high of $163.71. The firm has a market capitalization of $5.61 billion, a PE ratio of -41.46 and a beta of 0.82.

Glaukos (NYSE:GKOS - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The medical instruments supplier reported ($0.22) earnings per share for the quarter, topping analysts' consensus estimates of ($0.33) by $0.11. The firm had revenue of $106.66 million during the quarter, compared to the consensus estimate of $102.78 million. Glaukos had a negative return on equity of 10.66% and a negative net margin of 31.40%. The business's revenue was up 24.6% compared to the same quarter last year. During the same period last year, the business posted ($0.70) EPS. Research analysts predict that Glaukos Corporation will post -1.08 earnings per share 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.