Royal Bank of Canada Reduces Holdings in Glaukos Co. (NYSE:GKOS)

Royal Bank of Canada lessened its holdings in Glaukos Co. (NYSE:GKOS - Free Report) by 41.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 112,310 shares of the medical instruments supplier's stock after selling 79,841 shares during the quarter. Royal Bank of Canada owned 0.20% of Glaukos worth $16,840,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of Glaukos by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 5,974,971 shares of the medical instruments supplier's stock worth $895,887,000 after buying an additional 101,838 shares during the period. Invesco Ltd. grew its holdings in Glaukos by 4.9% in the 4th quarter. Invesco Ltd. now owns 1,458,635 shares of the medical instruments supplier's stock worth $218,708,000 after acquiring an additional 68,310 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Glaukos by 2.2% in 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 stake in shares of 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 valued at $123,742,000 after acquiring an additional 166,677 shares during the last quarter. Finally, Alliancebernstein L.P. raised its stake in shares of Glaukos by 1,235.4% during 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. 99.04% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GKOS. Morgan Stanley reduced their price target on Glaukos from $110.00 to $72.00 and set an "underweight" rating on the stock in a report on Tuesday, May 6th. Wells Fargo & Company downgraded 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 report on Thursday, May 1st. Stifel Nicolaus cut their price target on shares of Glaukos from $140.00 to $115.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Piper Sandler decreased 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. Finally, Stephens dropped their target price on shares of Glaukos from $140.00 to $115.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. One equities 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's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $134.67.

Insider Activity

In related news, CFO Alex R. Thurman sold 1,520 shares of Glaukos stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $106.84, for a total value of $162,396.80. Following the completion of 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 6.40% of the company's stock.

Glaukos Stock Down 1.4%

NYSE:GKOS traded down $1.31 during trading hours on Friday, reaching $93.56. 396,458 shares of the company traded hands, compared to its average volume of 703,256. The company has a current ratio of 5.54, a quick ratio of 4.71 and a debt-to-equity ratio of 0.19. The business's 50-day moving average price is $92.86 and its two-hundred day moving average price is $123.50. Glaukos Co. has a 1 year low of $77.10 and a 1 year high of $163.71. The stock has a market capitalization of $5.35 billion, a P/E ratio of -32.64 and a beta of 0.83.

Glaukos (NYSE:GKOS - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The medical instruments supplier reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.11. Glaukos had a negative return on equity of 16.53% and a negative net margin of 39.04%. The firm had revenue of $106.66 million during the quarter, compared to analyst estimates of $102.78 million. During the same quarter in the previous year, the firm earned ($0.70) EPS. Glaukos's quarterly revenue was up 24.6% compared to the same quarter last year. Analysts predict that Glaukos Co. will post -1.08 earnings per share for the current year.

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.