Lord Abbett & CO. LLC Sells 10,185,009 Shares of Glaukos Co. (NYSE:GKOS)

Lord Abbett & CO. LLC lessened its holdings in Glaukos Co. (NYSE:GKOS - Free Report) by 88.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,309,506 shares of the medical instruments supplier's stock after selling 10,185,009 shares during the quarter. Lord Abbett & CO. LLC owned 2.38% of Glaukos worth $196,347,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. IFP Advisors Inc bought a new stake in Glaukos during the fourth quarter worth $43,000. Asset Planning Inc bought a new stake in shares of Glaukos during the 4th quarter worth $90,000. Picton Mahoney Asset Management bought a new position in Glaukos in the fourth quarter valued at about $125,000. SBI Securities Co. Ltd. acquired a new position in Glaukos during the fourth quarter worth about $153,000. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Glaukos by 275.4% in the fourth 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 currently owned by institutional investors and hedge funds.

Insider Activity at Glaukos

In other news, insider Tomas Navratil sold 3,416 shares of the 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 transaction, the insider now owns 72,437 shares of the company's stock, valued at $10,658,380.18. This represents a 4.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Alex R. Thurman sold 1,520 shares of the business's 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 completion of the sale, the chief financial officer now directly owns 53,431 shares of the company's stock, valued at $5,708,568.04. The trade was a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.40% of the stock is owned by corporate insiders.

Glaukos Trading Down 1.2 %

Glaukos stock traded down $1.16 during trading hours on Wednesday, reaching $92.67. 438,750 shares of the company's stock were exchanged, compared to its average volume of 647,703. The firm's 50 day simple moving average is $99.73 and its 200 day simple moving average is $129.65. Glaukos Co. has a twelve month low of $77.91 and a twelve month high of $163.71. The company has a quick ratio of 4.71, a current ratio of 5.54 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $5.29 billion, a PE ratio of -32.29 and a beta of 0.88.

Glaukos (NYSE:GKOS - Get Free Report) last issued its earnings results on Thursday, February 20th. The medical instruments supplier reported ($0.40) earnings per share for the quarter, missing analysts' consensus estimates of ($0.38) by ($0.02). The business had revenue of $105.50 million during the quarter, compared to the consensus estimate of $100.72 million. Glaukos had a negative return on equity of 16.53% and a negative net margin of 39.04%. Research analysts predict that Glaukos Co. will post -1.08 earnings per share for the current year.

Wall Street Analyst Weigh In

GKOS has been the subject of several research reports. Mizuho dropped their price objective on shares of Glaukos from $200.00 to $175.00 and set an "outperform" rating for the company in a research note on Wednesday, April 16th. Wells Fargo & Company raised their price objective on Glaukos from $153.00 to $160.00 and gave the company an "overweight" rating in a report on Friday, February 21st. Needham & Company LLC upped their target price on Glaukos from $149.00 to $176.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Stifel Nicolaus increased their target price on Glaukos from $153.00 to $175.00 and gave the company a "buy" rating in a research report on Tuesday, December 31st. Finally, Piper Sandler reduced their price target on Glaukos from $180.00 to $165.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $156.17.

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.