Trust Point Inc. Cuts Stock Holdings in Glaukos Co. (NYSE:GKOS)

Trust Point Inc. cut its stake in Glaukos Co. (NYSE:GKOS - Free Report) by 42.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,480 shares of the medical instruments supplier's stock after selling 4,863 shares during the period. Trust Point Inc.'s holdings in Glaukos were worth $972,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP increased its stake in Glaukos by 294.5% in 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 in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Glaukos by 47.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 641,761 shares of the medical instruments supplier's stock valued at $83,609,000 after acquiring an additional 207,338 shares during the last quarter. Loomis Sayles & Co. L P raised its position in shares of Glaukos by 21.6% in the third quarter. Loomis Sayles & Co. L P now owns 673,751 shares of the medical instruments supplier's stock valued at $87,776,000 after purchasing an additional 119,527 shares during the period. State Street Corp raised its position in shares of Glaukos by 5.3% in the third quarter. State Street Corp now owns 1,954,449 shares of the medical instruments supplier's stock valued at $254,626,000 after purchasing an additional 98,109 shares during the period. Finally, First Turn Management LLC bought a new position in shares of Glaukos in the third quarter valued at about $12,520,000. 99.04% of the stock is owned by institutional investors.

Analyst Ratings Changes

GKOS has been the topic of a number of recent research reports. Stephens raised shares of Glaukos to a "strong-buy" rating in a research report on Monday, December 2nd. Morgan Stanley lowered shares of Glaukos from an "equal weight" rating to an "underweight" rating and set a $120.00 price target on the stock. in a research report on Monday, December 2nd. JPMorgan Chase & Co. raised their price target on shares of Glaukos from $130.00 to $145.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 5th. Stifel Nicolaus increased their price objective on shares of Glaukos from $153.00 to $175.00 and gave the stock a "buy" rating in a research note on Tuesday, December 31st. Finally, UBS Group assumed coverage on shares of Glaukos in a research note on Friday, December 6th. They set a "buy" rating and a $182.00 price objective on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $151.08.

Glaukos Trading Down 1.4 %

NYSE:GKOS traded down $2.21 during mid-day trading on Friday, hitting $153.07. 550,581 shares of the company's stock were exchanged, compared to its average volume of 495,754. The company has a 50 day simple moving average of $150.69 and a 200-day simple moving average of $137.15. 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 fifty-two week low of $83.90 and a fifty-two week high of $163.71. The firm has a market capitalization of $8.44 billion, a P/E ratio of -50.69 and a beta of 1.04.

Insider Buying and Selling

In other Glaukos news, Director Gilbert H. Kliman sold 10,000 shares of the firm's stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $150.28, for a total transaction of $1,502,800.00. Following the completion of the transaction, the director now owns 32,336 shares in the company, valued at approximately $4,859,454.08. This trade represents a 23.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Joseph E. Gilliam sold 3,328 shares of the firm's stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $149.85, for a total transaction of $498,700.80. Following the transaction, the chief operating officer now owns 102,169 shares of the company's stock, valued at approximately $15,310,024.65. The trade was a 3.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,328 shares of company stock worth $2,289,521 in the last ninety days. Company insiders own 6.40% 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.