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 Glaukos Corporation (NYSE:GKOS - Free Report) by 7.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm 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 filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake 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 buying an additional 101,838 shares during the period. Invesco Ltd. increased its stake in shares of 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 acquiring an additional 68,310 shares during the period. Geode Capital Management LLC increased its stake in shares of Glaukos by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 1,197,215 shares of the medical instruments supplier's stock valued at $179,555,000 after acquiring an additional 25,199 shares during the period. Gilder Gagnon Howe & Co. LLC raised its holdings in Glaukos by 25.3% during 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 in the last quarter. Finally, Alliancebernstein L.P. lifted 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 worth $122,374,000 after purchasing an additional 755,035 shares during the period. Institutional investors own 99.04% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on GKOS shares. Morgan Stanley dropped their price objective on Glaukos from $110.00 to $72.00 and set an "underweight" rating on the stock in a research note on Tuesday, May 6th. Stifel Nicolaus dropped 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. Piper Sandler cut their price target 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. Stephens lowered their price objective on shares of Glaukos from $140.00 to $115.00 and set an "overweight" rating on the stock in a research note on Friday, May 2nd. Finally, Truist Financial reiterated a "buy" rating and issued a $135.00 target price (down from $140.00) on shares of Glaukos in a report on Thursday, May 1st. One 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's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $134.67.

Glaukos Stock Down 5.6%

Shares of GKOS traded down $5.85 during mid-day trading on Tuesday, reaching $98.34. The company's stock had a trading volume of 1,125,039 shares, compared to its average volume of 744,823. The company has a market cap of $5.62 billion, a price-to-earnings ratio of -41.49 and a beta of 0.82. The business has a fifty day moving average of $97.18 and a 200 day moving average of $113.91. The company has a quick ratio of 5.62, a current ratio of 6.49 and a debt-to-equity ratio of 0.09. Glaukos Corporation has a 1 year low of $77.10 and a 1 year high of $163.71.

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, topping analysts' consensus estimates of ($0.33) by $0.11. The firm had revenue of $106.66 million during the quarter, compared to analyst estimates 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 quarterly revenue was up 24.6% compared to the same quarter last year. During the same period last year, the company posted ($0.70) EPS. As a group, analysts forecast that Glaukos Corporation will post -1.08 earnings per share for the current fiscal year.

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.