Glaukos Corporation (NYSE:GKOS) Stake Trimmed by Trust Point Inc.

Trust Point Inc. cut its position in shares of Glaukos Corporation (NYSE:GKOS - Free Report) by 53.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,999 shares of the medical instruments supplier's stock after selling 3,481 shares during the quarter. Trust Point Inc.'s holdings in Glaukos were worth $295,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Empowered Funds LLC acquired a new stake in shares of Glaukos during the fourth quarter valued at approximately $236,000. Rhumbline Advisers raised its stake in Glaukos by 0.3% during the 4th quarter. Rhumbline Advisers now owns 141,790 shares of the medical instruments supplier's stock valued at $21,260,000 after purchasing an additional 403 shares during the period. Congress Asset Management Co. acquired a new stake in Glaukos during the 4th quarter valued at $219,000. State of New Jersey Common Pension Fund D lifted its holdings in shares of Glaukos by 2.4% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 19,883 shares of the medical instruments supplier's stock valued at $2,981,000 after purchasing an additional 465 shares in the last quarter. Finally, CIBC Asset Management Inc acquired a new stake in shares of Glaukos in the fourth quarter worth $227,000. 99.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Morgan Stanley dropped their price target on Glaukos from $110.00 to $72.00 and set an "underweight" rating on the stock in a research report on Tuesday, May 6th. Stephens dropped their target price on Glaukos from $140.00 to $115.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. Truist Financial restated a "buy" rating and set a $135.00 price target (down from $140.00) on shares of Glaukos in a report on Thursday, May 1st. Needham & Company LLC dropped their price objective on shares of Glaukos from $176.00 to $115.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Finally, 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 report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $134.67.

Glaukos Stock Down 0.1%

GKOS stock opened at $100.02 on Wednesday. The firm has a market cap of $5.72 billion, a PE ratio of -42.20 and a beta of 0.80. Glaukos Corporation has a 1 year low of $77.10 and a 1 year high of $163.71. The company has a fifty day simple moving average of $93.26 and a 200 day simple moving average of $119.22. The company has a current ratio of 6.49, a quick ratio of 5.62 and a debt-to-equity ratio of 0.09.

Glaukos (NYSE:GKOS - Get Free Report) last announced 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 company had revenue of $106.66 million during the quarter, compared to analysts' expectations 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 quarter in the previous year, the firm earned ($0.70) earnings per share. Sell-side analysts anticipate that Glaukos Corporation will post -1.08 EPS for the current fiscal year.

Insider Buying and Selling at Glaukos

In related news, CFO Alex R. Thurman sold 1,520 shares of the company's stock in a transaction on Tuesday, March 25th. The shares were 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 directly owns 53,431 shares of the company's stock, valued at approximately $5,708,568.04. This represents a 2.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 6.40% of the company's stock.

Glaukos 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.

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