Glaukos Co. (NYSE:GKOS) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC reduced its position in shares of Glaukos Co. (NYSE:GKOS - Free Report) by 79.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,419 shares of the medical instruments supplier's stock after selling 5,612 shares during the period. Hsbc Holdings PLC's holdings in Glaukos were worth $213,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of GKOS. Stifel Financial Corp grew its holdings in Glaukos by 2.6% in the 4th quarter. Stifel Financial Corp now owns 4,341 shares of the medical instruments supplier's stock valued at $651,000 after buying an additional 111 shares in the last quarter. State of Tennessee Department of Treasury boosted its holdings in Glaukos by 5.9% in the 4th quarter. State of Tennessee Department of Treasury now owns 24,021 shares of the medical instruments supplier's stock valued at $3,602,000 after purchasing an additional 1,328 shares during the period. MetLife Investment Management LLC increased its holdings in shares of Glaukos by 5.9% during the fourth quarter. MetLife Investment Management LLC now owns 29,561 shares of the medical instruments supplier's stock worth $4,432,000 after purchasing an additional 1,659 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Glaukos in the fourth quarter valued at approximately $182,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Glaukos by 9.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 312,314 shares of the medical instruments supplier's stock valued at $46,828,000 after buying an additional 26,540 shares during the period. 99.04% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GKOS. Morgan Stanley lowered their price target on Glaukos from $110.00 to $72.00 and set an "underweight" rating for the company in a report on Tuesday, May 6th. Stephens dropped their price target 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 lowered 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 research report on Thursday, May 1st. Needham & Company LLC dropped their price objective on Glaukos from $176.00 to $115.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Finally, Piper Sandler cut their price objective on Glaukos from $180.00 to $165.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. One analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $134.67.

Glaukos Price Performance

GKOS traded down $2.43 during midday trading on Tuesday, hitting $92.21. 901,865 shares of the company traded hands, compared to its average volume of 684,197. The business has a 50 day simple moving average of $94.52 and a two-hundred day simple moving average of $127.06. The company has a market capitalization of $5.27 billion, a price-to-earnings ratio of -32.13 and a beta of 0.83. 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 52-week low of $77.10 and a 52-week 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 for the quarter, beating analysts' consensus estimates 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 business had revenue of $106.66 million during the quarter, compared to analysts' expectations of $102.78 million. During the same period in the previous year, the firm posted ($0.70) earnings per share. The company's revenue was up 24.6% on a year-over-year basis. On average, equities analysts forecast that Glaukos Co. will post -1.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Glaukos news, insider Tomas Navratil sold 3,416 shares of the firm's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $147.14, for a total transaction of $502,630.24. Following the sale, the insider now directly owns 72,437 shares of the company's stock, valued at $10,658,380.18. This trade represents a 4.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Alex R. Thurman sold 1,520 shares of the company's stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $106.84, for a total transaction of $162,396.80. Following the transaction, the chief financial officer now directly owns 53,431 shares of the company's stock, valued at approximately $5,708,568.04. This represents a 2.77% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.80% of the company's stock.

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.