Bank of America Corp DE lowered its stake in shares of Glaukos Co. (NYSE:GKOS - Free Report) by 30.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 209,373 shares of the medical instruments supplier's stock after selling 90,900 shares during the quarter. Bank of America Corp DE owned about 0.38% of Glaukos worth $31,393,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. IFP Advisors Inc acquired a new position in Glaukos during the 4th quarter valued at approximately $43,000. Asset Planning Inc purchased a new stake in shares of Glaukos during the fourth quarter valued at $90,000. Picton Mahoney Asset Management acquired a new position in shares of Glaukos in the 4th quarter valued at $125,000. SBI Securities Co. Ltd. purchased a new position in Glaukos in the 4th quarter worth $153,000. Finally, Smartleaf Asset Management LLC raised its stake in Glaukos by 275.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,100 shares of the medical instruments supplier's stock worth $164,000 after acquiring an additional 807 shares during the last quarter. 99.04% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several research firms have weighed in on GKOS. Mizuho dropped their price target on Glaukos from $200.00 to $175.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 16th. Stifel Nicolaus dropped their target price on Glaukos from $140.00 to $115.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Wells Fargo & Company lowered shares of Glaukos from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $160.00 to $86.00 in a research report on Thursday, May 1st. Truist Financial reiterated a "buy" rating and issued a $135.00 price objective (down previously from $140.00) on shares of Glaukos in a research note on Thursday, May 1st. Finally, Needham & Company LLC lowered their price target on shares of Glaukos from $176.00 to $115.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $134.67.
Get Our Latest Analysis on GKOS
Insider Activity
In other news, CFO Alex R. Thurman sold 1,520 shares of Glaukos stock in a transaction dated 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 owns 53,431 shares in the company, valued at $5,708,568.04. This trade represents a 2.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 5.80% of the company's stock.
Glaukos Price Performance
Shares of Glaukos stock traded up $0.32 during trading hours on Thursday, reaching $95.14. The stock had a trading volume of 79,501 shares, compared to its average volume of 690,490. The stock's 50 day moving average is $93.63 and its 200 day moving average is $125.20. The company has a current ratio of 5.54, a quick ratio of 4.71 and a debt-to-equity ratio of 0.19. Glaukos Co. has a twelve month low of $77.10 and a twelve month high of $163.71. The firm has a market capitalization of $5.44 billion, a PE ratio of -33.16 and a beta of 0.83.
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, beating the consensus estimate of ($0.33) by $0.11. The firm had revenue of $106.66 million during the quarter, compared to analyst estimates of $102.78 million. Glaukos had a negative return on equity of 16.53% and a negative net margin of 39.04%. Glaukos's revenue for the quarter was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.70) EPS. Equities analysts expect that Glaukos Co. will post -1.08 earnings per share for the current fiscal year.
Glaukos Company Profile
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Free Report)
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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