Principal Financial Group Inc. Has $40.26 Million Stock Position in Glaukos Co. (NYSE:GKOS)

Principal Financial Group Inc. decreased its stake in Glaukos Co. (NYSE:GKOS - Free Report) by 6.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 268,534 shares of the medical instruments supplier's stock after selling 19,971 shares during the period. Principal Financial Group Inc. owned 0.49% of Glaukos worth $40,264,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. State of New Jersey Common Pension Fund D increased its holdings in Glaukos by 2.4% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 19,883 shares of the medical instruments supplier's stock worth $2,981,000 after buying an additional 465 shares during the last quarter. Congress Asset Management Co. acquired a new position in shares of Glaukos during the 4th quarter worth about $219,000. Rhumbline Advisers raised its holdings in shares of Glaukos by 0.3% in the 4th quarter. Rhumbline Advisers now owns 141,790 shares of the medical instruments supplier's stock valued at $21,260,000 after purchasing an additional 403 shares during the period. Asset Planning Inc bought a new stake in shares of Glaukos in the 4th quarter valued at about $90,000. Finally, Legato Capital Management LLC lifted its stake in Glaukos by 85.0% in the 4th quarter. Legato Capital Management LLC now owns 9,381 shares of the medical instruments supplier's stock valued at $1,407,000 after purchasing an additional 4,309 shares during the last quarter. Institutional investors and hedge funds own 99.04% of the company's stock.

Glaukos Stock Performance

Shares of NYSE:GKOS traded down $31.33 on Friday, reaching $126.03. 4,139,906 shares of the company's stock were exchanged, compared to its average volume of 515,602. Glaukos Co. has a twelve month low of $83.90 and a twelve month high of $163.71. The company has a fifty day moving average of $152.75 and a 200-day moving average of $139.57. The company has a market capitalization of $6.95 billion, a price-to-earnings ratio of -43.91 and a beta of 1.04. 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 (NYSE:GKOS - Get Free Report) last issued its quarterly 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). The company had revenue of $105.50 million for the quarter, compared to analyst estimates of $100.72 million. Glaukos had a negative return on equity of 16.53% and a negative net margin of 39.04%. On average, research analysts predict that Glaukos Co. will post -1.08 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on GKOS shares. Wells Fargo & Company upped their price objective on Glaukos from $153.00 to $160.00 and gave the company an "overweight" rating in a research note on Friday. Truist Financial increased their price target on Glaukos from $152.00 to $185.00 and gave the company a "buy" rating in a research note on Wednesday, December 18th. Piper Sandler reaffirmed an "overweight" rating and set a $180.00 price objective (up from $140.00) on shares of Glaukos in a research report on Monday, January 27th. Morgan Stanley downgraded shares of Glaukos from an "equal weight" rating to an "underweight" rating and set a $120.00 price objective on the stock. in a report on Monday, December 2nd. Finally, Stephens upgraded shares of Glaukos to a "strong-buy" rating in a research note on Monday, December 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $163.25.

Insider Activity at Glaukos

In other Glaukos news, Director Gilbert H. Kliman sold 10,000 shares of the firm's stock in a transaction on 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 sale, the director now owns 32,336 shares of the company's stock, valued at approximately $4,859,454.08. This trade represents a 23.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 value of $502,630.24. Following the transaction, the insider now directly owns 72,437 shares of the company's stock, valued at $10,658,380.18. This trade represents a 4.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,744 shares of company stock valued at $2,792,151 over the last quarter. 6.40% of the stock is owned by corporate insiders.

About Glaukos

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.