Prudential Financial Inc. Sells 3,200 Shares of Glaukos Co. (NYSE:GKOS)

Prudential Financial Inc. cut its holdings in shares of Glaukos Co. (NYSE:GKOS - Free Report) by 5.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 55,503 shares of the medical instruments supplier's stock after selling 3,200 shares during the period. Prudential Financial Inc. owned approximately 0.10% of Glaukos worth $8,322,000 at the end of the most recent reporting period.

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

Glaukos Trading Down 10.8 %

Glaukos stock traded down $10.77 during mid-day trading on Thursday, hitting $89.27. The company's stock had a trading volume of 192,526 shares, compared to its average volume of 605,705. Glaukos Co. has a 12 month low of $89.03 and a 12 month high of $163.71. 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 business has a 50 day moving average price of $126.91 and a 200-day moving average price of $135.14. The stock has a market cap of $5.05 billion, a price-to-earnings ratio of -31.10 and a beta of 0.99.

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Glaukos (NYSE:GKOS - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The medical instruments supplier reported ($0.40) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $105.50 million for the quarter, compared to analysts' expectations of $100.72 million. As a group, analysts forecast that Glaukos Co. will post -1.08 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on GKOS shares. UBS Group initiated coverage on shares of Glaukos in a research report on Friday, December 6th. They set a "buy" rating and a $182.00 target price on the stock. Truist Financial increased their price target on shares of Glaukos from $152.00 to $185.00 and gave the company a "buy" rating in a research report on Wednesday, December 18th. Mizuho upgraded shares of Glaukos from a "neutral" rating to an "outperform" rating and raised their price target for the stock from $140.00 to $200.00 in a research note on Wednesday, February 19th. Stifel Nicolaus upped their price objective on Glaukos from $153.00 to $175.00 and gave the company a "buy" rating in a research note on Tuesday, December 31st. Finally, Wells Fargo & Company raised their target price on Glaukos from $153.00 to $160.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. One analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Glaukos currently has an average rating of "Moderate Buy" and an average price target of $163.25.

Insider Buying and Selling at Glaukos

In related news, CFO Alex R. Thurman sold 1,520 shares of Glaukos stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $106.84, for a total value of $162,396.80. Following the sale, the chief financial officer now owns 53,431 shares in the company, valued at $5,708,568.04. The trade was a 2.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Tomas Navratil sold 3,416 shares of the firm's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $147.14, for a total transaction of $502,630.24. Following the completion of the sale, the insider now directly owns 72,437 shares of the company's stock, valued at approximately $10,658,380.18. This represents 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 currently owned by corporate insiders.

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.