Taylor Frigon Capital Management LLC Has $2.22 Million Stock Position in Glaukos Corporation (NYSE:GKOS)

Taylor Frigon Capital Management LLC cut its holdings in shares of Glaukos Corporation (NYSE:GKOS - Free Report) by 10.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,385 shares of the medical instruments supplier's stock after selling 2,627 shares during the period. Glaukos makes up approximately 1.3% of Taylor Frigon Capital Management LLC's holdings, making the stock its 21st biggest position. Taylor Frigon Capital Management LLC's holdings in Glaukos were worth $2,222,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. IFP Advisors Inc acquired a new stake in shares of Glaukos during the 4th quarter valued at $43,000. US Bancorp DE raised its position in shares of Glaukos by 8.3% during the fourth quarter. US Bancorp DE now owns 6,099 shares of the medical instruments supplier's stock worth $914,000 after purchasing an additional 470 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Glaukos during the fourth quarter valued at $16,910,000. Harbor Capital Advisors Inc. lifted its holdings in shares of Glaukos by 59.5% during the first quarter. Harbor Capital Advisors Inc. now owns 39,132 shares of the medical instruments supplier's stock valued at $3,851,000 after purchasing an additional 14,593 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Glaukos by 3.2% in the 4th quarter. Bank of New York Mellon Corp now owns 397,842 shares of the medical instruments supplier's stock valued at $59,652,000 after purchasing an additional 12,376 shares during the period. Institutional investors and hedge funds own 99.04% of the company's stock.

Glaukos Stock Up 2.0%

Shares of GKOS traded up $2.00 during mid-day trading on Monday, hitting $103.42. 982,839 shares of the company's stock were exchanged, compared to its average volume of 738,484. The stock has a market cap of $5.91 billion, a price-to-earnings ratio of -43.64 and a beta of 0.80. The firm has a fifty day moving average of $94.76 and a two-hundred day moving average of $116.96. 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 twelve month low of $77.10 and a twelve month high of $163.71.

Glaukos (NYSE:GKOS - Get Free Report) last issued 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. Glaukos had a negative net margin of 31.40% and a negative return on equity of 10.66%. The firm had revenue of $106.66 million during the quarter, compared to analysts' expectations of $102.78 million. During the same period in the prior year, the company posted ($0.70) earnings per share. Glaukos's revenue for the quarter was up 24.6% on a year-over-year basis. On average, sell-side analysts forecast that Glaukos Corporation will post -1.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on GKOS. Morgan Stanley cut their price objective on Glaukos from $110.00 to $72.00 and set an "underweight" rating on the stock in a report on Tuesday, May 6th. 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. Piper Sandler reduced their price target 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. Truist Financial restated a "buy" rating and issued a $135.00 target price (down previously from $140.00) on shares of Glaukos in a report on Thursday, May 1st. Finally, Stifel Nicolaus reduced their price objective on Glaukos from $140.00 to $115.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $134.67.

About Glaukos

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.