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

Lord Abbett & CO. LLC cut its stake in Glaukos Co. (NYSE:GKOS - Free Report) by 88.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (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 approximately 2.38% of Glaukos worth $196,347,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. IFP Advisors Inc acquired a new position in Glaukos in the 4th quarter valued at approximately $43,000. Asset Planning Inc bought a new stake in shares of Glaukos during the fourth quarter valued at about $90,000. Picton Mahoney Asset Management purchased a new stake in shares of Glaukos in the 4th quarter valued at $125,000. SBI Securities Co. Ltd. bought a new stake in Glaukos during the 4th quarter valued at $153,000. Finally, Smartleaf Asset Management LLC raised its position in shares of Glaukos by 275.4% in the 4th 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 in the last quarter. Institutional investors and hedge funds own 99.04% of the company's stock.

Glaukos Trading Down 0.2 %

Shares of NYSE GKOS traded down $0.20 during trading hours on Tuesday, reaching $93.61. The stock had a trading volume of 914,718 shares, compared to its average volume of 648,382. The firm has a market cap of $5.34 billion, a price-to-earnings ratio of -32.62 and a beta of 0.88. The company has a current ratio of 5.54, a quick ratio of 4.71 and a debt-to-equity ratio of 0.19. The business's fifty day moving average price is $101.01 and its two-hundred day moving average price is $129.91. Glaukos Co. has a 52-week low of $77.91 and a 52-week high of $163.71.

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GKOS. Stifel Nicolaus lifted 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. Mizuho lowered their target price on Glaukos from $200.00 to $175.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 16th. Needham & Company LLC increased their price target on Glaukos from $149.00 to $176.00 and gave the company a "buy" rating in a report on Friday, February 21st. Truist Financial reduced their price objective on Glaukos from $185.00 to $140.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Finally, Wells Fargo & Company boosted their price target on Glaukos from $153.00 to $160.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. One analyst has rated the stock with a sell rating, one has given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Glaukos has an average rating of "Moderate Buy" and a consensus target price of $156.17.

Insiders Place Their Bets

In other Glaukos news, CFO Alex R. Thurman sold 1,520 shares of the stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $106.84, for a total transaction of $162,396.80. Following the transaction, the chief financial officer now owns 53,431 shares of the company's stock, valued at $5,708,568.04. This trade represents a 2.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Tomas Navratil sold 3,416 shares of the business's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $147.14, for a total transaction of $502,630.24. Following the transaction, the insider now directly owns 72,437 shares in the company, valued at approximately $10,658,380.18. The trade was a 4.50 % 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 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.