Riverbridge Partners LLC Sells 27,469 Shares of Glaukos Corporation (NYSE:GKOS)

Riverbridge Partners LLC reduced its position in shares of Glaukos Corporation (NYSE:GKOS - Free Report) by 8.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 285,462 shares of the medical instruments supplier's stock after selling 27,469 shares during the quarter. Riverbridge Partners LLC owned 0.50% of Glaukos worth $28,095,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC raised its position in shares of Glaukos by 3,957.1% in 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 during the period. IFP Advisors Inc bought a new position in shares of Glaukos in the fourth quarter valued at about $43,000. Versant Capital Management Inc raised its position in shares of Glaukos by 583.9% in the first quarter. Versant Capital Management Inc now owns 383 shares of the medical instruments supplier's stock valued at $38,000 after purchasing an additional 327 shares during the period. CoreCap Advisors LLC raised its position in shares of Glaukos by 36.4% in the fourth quarter. CoreCap Advisors LLC now owns 750 shares of the medical instruments supplier's stock valued at $112,000 after purchasing an additional 200 shares during the period. Finally, Picton Mahoney Asset Management bought a new position in shares of Glaukos in the fourth quarter valued at about $125,000. 99.04% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Alex R. Thurman sold 1,520 shares of the firm's stock in a transaction that occurred on 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 directly owns 53,431 shares in the company, valued at approximately $5,708,568.04. This trade represents a 2.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 5.80% of the stock is currently owned by corporate insiders.

Glaukos Trading Up 2.5%

Shares of Glaukos stock opened at $102.31 on Friday. The company has a market capitalization of $5.85 billion, a price-to-earnings ratio of -43.17 and a beta of 0.80. 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 12-month low of $77.10 and a 12-month high of $163.71. The firm's 50-day moving average price is $93.70 and its two-hundred day moving average price is $118.85.

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on GKOS. Stephens dropped their price objective on shares of Glaukos from $140.00 to $115.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. Wells Fargo & Company downgraded shares of Glaukos from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $160.00 to $86.00 in a research note on Thursday, May 1st. Mizuho decreased their price target on shares of Glaukos from $200.00 to $175.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 16th. Piper Sandler decreased their price target on shares of Glaukos from $180.00 to $165.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. Finally, Morgan Stanley decreased their price target on shares of Glaukos from $110.00 to $72.00 and set an "underweight" rating on the stock in a research note on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $134.67.

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.

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