Peregrine Capital Management LLC Sells 17,690 Shares of Glaukos Co. (NYSE:GKOS)

Peregrine Capital Management LLC lowered its stake in Glaukos Co. (NYSE:GKOS - Free Report) by 15.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 99,091 shares of the medical instruments supplier's stock after selling 17,690 shares during the quarter. Peregrine Capital Management LLC owned about 0.20% of Glaukos worth $7,877,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of GKOS. Bank of New York Mellon Corp lifted its stake in Glaukos by 0.6% in the first quarter. Bank of New York Mellon Corp now owns 481,228 shares of the medical instruments supplier's stock valued at $27,825,000 after buying an additional 2,843 shares in the last quarter. HighTower Advisors LLC bought a new position in Glaukos in the first quarter valued at approximately $208,000. Natixis Advisors L.P. bought a new position in Glaukos in the first quarter valued at approximately $674,000. Bank of Montreal Can lifted its stake in Glaukos by 14.2% in the first quarter. Bank of Montreal Can now owns 20,031 shares of the medical instruments supplier's stock valued at $1,164,000 after buying an additional 2,485 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its position in shares of Glaukos by 54.8% in the first quarter. MetLife Investment Management LLC now owns 25,057 shares of the medical instruments supplier's stock worth $1,449,000 after purchasing an additional 8,866 shares in the last quarter. Institutional investors own 99.04% of the company's stock.

Insider Activity

In related news, COO Joseph E. Gilliam sold 4,890 shares of the company's stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $89.17, for a total transaction of $436,041.30. Following the completion of the sale, the chief operating officer now owns 119,802 shares of the company's stock, valued at $10,682,744.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Joseph E. Gilliam sold 4,890 shares of the company's stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $89.17, for a total transaction of $436,041.30. Following the completion of the sale, the chief operating officer now owns 119,802 shares of the company's stock, valued at $10,682,744.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark J. Foley sold 4,560 shares of the company's stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $92.87, for a total transaction of $423,487.20. Following the sale, the director now directly owns 33,220 shares of the company's stock, valued at approximately $3,085,141.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 248,464 shares of company stock valued at $23,405,250. 7.80% of the stock is owned by company insiders.

Glaukos Stock Performance

Shares of NYSE:GKOS traded down $1.60 on Wednesday, hitting $99.71. The company had a trading volume of 417,919 shares, compared to its average volume of 701,893. Glaukos Co. has a 1-year low of $45.38 and a 1-year high of $102.33. The stock has a market cap of $4.93 billion, a price-to-earnings ratio of -35.87 and a beta of 1.08. The stock has a 50 day moving average price of $91.38 and a 200 day moving average price of $79.70. The company has a current ratio of 5.34, a quick ratio of 4.78 and a debt-to-equity ratio of 0.77.

Glaukos (NYSE:GKOS - Get Free Report) last announced its earnings results on Wednesday, February 21st. The medical instruments supplier reported ($0.63) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.56) by ($0.07). The business had revenue of $82.40 million during the quarter, compared to the consensus estimate of $81.00 million. Glaukos had a negative net margin of 42.79% and a negative return on equity of 22.67%. The company's revenue was up 15.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.53) EPS. Analysts expect that Glaukos Co. will post -2.18 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on GKOS shares. Truist Financial reissued a "buy" rating and issued a $110.00 price objective on shares of Glaukos in a research report on Monday. StockNews.com lowered shares of Glaukos from a "hold" rating to a "sell" rating in a research report on Tuesday, February 27th. JPMorgan Chase & Co. raised shares of Glaukos from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $66.00 to $91.00 in a research report on Thursday, December 21st. Piper Sandler boosted their price objective on shares of Glaukos from $90.00 to $105.00 and gave the stock an "overweight" rating in a research report on Friday, December 22nd. Finally, Needham & Company LLC boosted their price objective on shares of Glaukos from $105.00 to $108.00 and gave the stock a "buy" rating in a research report on Thursday, February 22nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $98.30.

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.