Taylor Frigon Capital Management LLC Reduces Holdings in Glaukos Corporation (NYSE:GKOS)

Taylor Frigon Capital Management LLC reduced its position in shares of Glaukos Corporation (NYSE:GKOS - Free Report) by 10.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,385 shares of the medical instruments supplier's stock after selling 2,627 shares during the period. Glaukos comprises about 1.3% of Taylor Frigon Capital Management LLC's investment portfolio, making the stock its 21st largest holding. Taylor Frigon Capital Management LLC's holdings in Glaukos were worth $2,222,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Bessemer Group Inc. lifted its stake in Glaukos by 133.9% in the 1st quarter. Bessemer Group Inc. now owns 276 shares of the medical instruments supplier's stock valued at $27,000 after purchasing an additional 158 shares during the last quarter. 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 buying an additional 277 shares in the last quarter. Versant Capital Management Inc increased 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 worth $38,000 after purchasing an additional 327 shares during the period. IFP Advisors Inc acquired a new stake in shares of Glaukos during the 4th quarter worth approximately $43,000. Finally, CoreCap Advisors LLC boosted its position in shares of Glaukos by 36.4% during the 4th quarter. CoreCap Advisors LLC now owns 750 shares of the medical instruments supplier's stock worth $112,000 after acquiring an additional 200 shares in the last quarter. 99.04% of the stock is currently owned by institutional investors.

Glaukos Price Performance

NYSE:GKOS traded down $0.13 during trading hours on Thursday, hitting $103.50. The stock had a trading volume of 289,937 shares, compared to its average volume of 737,469. The firm has a market capitalization of $5.91 billion, a price-to-earnings ratio of -43.67 and a beta of 0.82. The company has a debt-to-equity ratio of 0.09, a current ratio of 6.49 and a quick ratio of 5.62. The company has a 50 day simple moving average of $95.54 and a two-hundred day simple moving average of $116.52. Glaukos Corporation has a one year low of $77.10 and a one year high of $163.71.

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

Analyst Upgrades and Downgrades

GKOS has been the topic of a number of research analyst reports. Piper Sandler reduced 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. Morgan Stanley cut their price objective on shares of Glaukos from $110.00 to $72.00 and set an "underweight" rating on the stock in a research report on Tuesday, May 6th. Wells Fargo & Company lowered shares of Glaukos from an "overweight" rating to an "equal weight" rating and dropped their price objective for the company from $160.00 to $86.00 in a research note on Thursday, May 1st. Stifel Nicolaus dropped their price objective on Glaukos from $140.00 to $115.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Finally, Stephens cut their price target on shares of Glaukos from $140.00 to $115.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. 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 stock. Based on data from MarketBeat.com, the company presently has a consensus 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.