Riverbridge Partners LLC Sells 163,751 Shares of Glaukos Co. (NYSE:GKOS)

Riverbridge Partners LLC reduced its stake in Glaukos Co. (NYSE:GKOS - Free Report) by 34.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 312,931 shares of the medical instruments supplier's stock after selling 163,751 shares during the quarter. Riverbridge Partners LLC owned approximately 0.57% of Glaukos worth $46,921,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Values First Advisors Inc. bought a new position in Glaukos in the 3rd quarter worth approximately $25,000. Harvest Fund Management Co. Ltd increased its position in shares of Glaukos by 2,263.2% during the third quarter. Harvest Fund Management Co. Ltd now owns 898 shares of the medical instruments supplier's stock valued at $117,000 after purchasing an additional 860 shares during the period. KBC Group NV increased its position in shares of Glaukos by 16.2% during the third quarter. KBC Group NV now owns 1,445 shares of the medical instruments supplier's stock valued at $188,000 after purchasing an additional 201 shares during the period. EWA LLC acquired a new stake in Glaukos in the 3rd quarter valued at $209,000. Finally, Procyon Advisors LLC acquired a new stake in Glaukos in the 3rd quarter valued at $210,000. 99.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Glaukos

In related news, Director Gilbert H. Kliman sold 10,000 shares of the company's stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $150.28, for a total value of $1,502,800.00. Following the completion of the sale, the director now owns 32,336 shares in the company, valued at approximately $4,859,454.08. This represents a 23.62 % 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, COO Joseph E. Gilliam sold 3,328 shares of the 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 of the company's stock, valued at $15,310,024.65. This trade represents a 3.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,603 shares of company stock worth $2,605,678. 6.40% of the stock is owned by insiders.

Analyst Ratings Changes

GKOS has been the topic of several recent analyst reports. Citigroup raised Glaukos from a "neutral" rating to a "buy" rating and boosted their price target for the company from $132.00 to $162.00 in a research note on Wednesday, December 11th. BTIG Research boosted their price target on Glaukos from $140.00 to $149.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. Morgan Stanley lowered Glaukos from an "equal weight" rating to an "underweight" rating and set a $120.00 price target on the stock. in a research note on Monday, December 2nd. Piper Sandler set a $140.00 price target on Glaukos in a research note on Thursday, October 17th. Finally, JPMorgan Chase & Co. boosted their price objective on Glaukos from $130.00 to $145.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 5th. One analyst has rated the stock with a sell rating, two have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $147.75.

Glaukos Trading Up 1.0 %

Shares of GKOS traded up $1.66 during trading hours on Thursday, hitting $161.78. 176,908 shares of the stock traded hands, compared to its average volume of 583,148. 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 1-year low of $83.90 and a 1-year high of $162.77. The firm has a market capitalization of $8.92 billion, a PE ratio of -53.48 and a beta of 1.04. The business has a fifty day moving average of $146.86 and a 200-day moving average of $134.31.

Glaukos (NYSE:GKOS - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The medical instruments supplier reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.48) by $0.20. Glaukos had a negative return on equity of 18.99% and a negative net margin of 42.43%. The business had revenue of $96.70 million for the quarter, compared to analyst estimates of $91.50 million. During the same quarter in the prior year, the firm posted ($0.50) earnings per share. The firm's revenue for the quarter was up 23.9% compared to the same quarter last year. Analysts expect that Glaukos Co. will post -1.89 EPS for the current year.

Glaukos 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.