Truist Financial Corp Reduces Holdings in Glaukos Co. (NYSE:GKOS)

Truist Financial Corp cut its position in shares of Glaukos Co. (NYSE:GKOS - Free Report) by 41.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,370 shares of the medical instruments supplier's stock after selling 5,319 shares during the quarter. Truist Financial Corp's holdings in Glaukos were worth $1,105,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GKOS. Asset Planning Inc purchased a new stake in Glaukos in the 4th quarter valued at about $90,000. Harvest Fund Management Co. Ltd grew its stake in Glaukos by 2,263.2% in the 3rd 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 3rd 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 last quarter. EWA LLC bought a new stake in shares of Glaukos during the 3rd quarter worth $209,000. Finally, Congress Asset Management Co. purchased a new stake in Glaukos during the fourth quarter worth about $219,000. Institutional investors own 99.04% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on GKOS. 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. Piper Sandler reaffirmed an "overweight" rating and set a $180.00 price objective (up from $140.00) on shares of Glaukos in a report on Monday, January 27th. JPMorgan Chase & Co. raised their price objective on shares of Glaukos from $130.00 to $145.00 and gave the stock an "overweight" rating in a report on Tuesday, November 5th. Citigroup raised Glaukos from a "neutral" rating to a "buy" rating and raised their price target for the stock from $132.00 to $162.00 in a report on Wednesday, December 11th. Finally, Needham & Company LLC boosted their price objective on Glaukos from $149.00 to $176.00 and gave the company a "buy" rating in a research note on Friday, February 21st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $163.25.

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Insider Buying and Selling

In other news, Director Gilbert H. Kliman sold 10,000 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $150.28, for a total transaction of $1,502,800.00. Following the transaction, the director now directly owns 32,336 shares of the company's stock, valued at $4,859,454.08. This represents a 23.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Tomas Navratil sold 3,416 shares of the firm's stock in a transaction that occurred 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 completion of 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,744 shares of company stock worth $2,792,151. 6.40% of the stock is owned by corporate insiders.

Glaukos Stock Up 3.3 %

Shares of GKOS traded up $3.55 during trading hours on Tuesday, hitting $112.70. The company had a trading volume of 489,013 shares, compared to its average volume of 754,441. The stock has a market capitalization of $6.38 billion, a price-to-earnings ratio of -39.11 and a beta of 1.04. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.71 and a current ratio of 5.54. Glaukos Co. has a 52-week low of $83.90 and a 52-week high of $163.71. The firm has a fifty day moving average price of $149.44 and a 200-day moving average price of $139.44.

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 the consensus estimate of $100.72 million. On average, equities research analysts forecast that Glaukos Co. will post -1.08 EPS for the current fiscal year.

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.