Trust Point Inc. Has $972,000 Stake in Glaukos Co. (NYSE:GKOS)

Trust Point Inc. decreased its stake in shares of Glaukos Co. (NYSE:GKOS) by 42.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 6,480 shares of the medical instruments supplier’s stock after selling 4,863 shares during the quarter. Trust Point Inc.’s holdings in Glaukos were worth $972,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in GKOS. Wellington Management Group LLP increased its position in shares of Glaukos by 294.5% during the third quarter. Wellington Management Group LLP now owns 2,183,766 shares of the medical instruments supplier’s stock valued at $284,501,000 after purchasing an additional 1,630,270 shares during the period. State Street Corp increased its holdings in Glaukos by 5.3% in the 3rd quarter. State Street Corp now owns 1,954,449 shares of the medical instruments supplier’s stock valued at $254,626,000 after buying an additional 98,109 shares during the period. Primecap Management Co. CA raised its stake in shares of Glaukos by 2.0% in the 3rd quarter. Primecap Management Co. CA now owns 1,245,185 shares of the medical instruments supplier’s stock valued at $162,223,000 after buying an additional 24,370 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Glaukos by 6.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,172,016 shares of the medical instruments supplier’s stock worth $152,722,000 after acquiring an additional 66,134 shares during the period. Finally, Loomis Sayles & Co. L P boosted its position in shares of Glaukos by 21.6% during the 3rd quarter. Loomis Sayles & Co. L P now owns 673,751 shares of the medical instruments supplier’s stock valued at $87,776,000 after acquiring an additional 119,527 shares in the last quarter. Institutional investors and hedge funds own 99.04% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Citigroup raised shares of Glaukos from a “neutral” rating to a “buy” rating and increased their price target for the stock from $132.00 to $162.00 in a research report on Wednesday, December 11th. UBS Group started coverage on Glaukos in a research report on Friday, December 6th. They set a “buy” rating and a $182.00 target price for the company. Piper Sandler reiterated an “overweight” rating and issued a $180.00 price target (up from $140.00) on shares of Glaukos in a research report on Monday, January 27th. Stifel Nicolaus lifted their price objective on Glaukos from $153.00 to $175.00 and gave the company a “buy” rating in a report on Tuesday, December 31st. Finally, Stephens raised shares of Glaukos to a “strong-buy” rating in a report on Monday, December 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $151.08.

Glaukos Stock Performance

Shares of Glaukos stock opened at $154.50 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 5.54 and a quick ratio of 4.71. The firm has a 50 day simple moving average of $149.95 and a 200 day simple moving average of $136.67. Glaukos Co. has a fifty-two week low of $83.90 and a fifty-two week high of $163.71. The firm has a market cap of $8.52 billion, a P/E ratio of -51.16 and a beta of 1.04.

Glaukos (NYSE:GKOS) last released its earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.48) by $0.20. The company had revenue of $96.70 million during the quarter, compared to analysts’ expectations of $91.50 million. Glaukos had a negative return on equity of 18.99% and a negative net margin of 42.43%. The business’s revenue for the quarter was up 23.9% on a year-over-year basis. During the same period last year, the firm earned ($0.50) EPS. Sell-side analysts predict that Glaukos Co. will post -1.89 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, COO Joseph E. Gilliam sold 3,328 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $149.85, for a total value of $498,700.80. Following the completion of the sale, the chief operating officer now owns 102,169 shares in the company, valued at approximately $15,310,024.65. This represents a 3.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Gilbert H. Kliman sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $144.01, for a total value of $288,020.00. Following the transaction, the director now owns 32,336 shares in the company, valued at approximately $4,656,707.36. This trade represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 15,328 shares of company stock valued at $2,289,521. 6.40% of the stock is currently owned by insiders.

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.