Glaukos Co. (NYSE:GKOS) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. lessened its stake in Glaukos Co. (NYSE:GKOS) by 7.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 26,274 shares of the medical instruments supplier’s stock after selling 2,051 shares during the quarter. Corebridge Financial Inc.’s holdings in Glaukos were worth $3,940,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of GKOS. The Manufacturers Life Insurance Company raised its stake in Glaukos by 2.3% during the third quarter. The Manufacturers Life Insurance Company now owns 28,343 shares of the medical instruments supplier’s stock valued at $3,693,000 after buying an additional 632 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Glaukos by 186.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 13,726 shares of the medical instruments supplier’s stock valued at $1,788,000 after acquiring an additional 8,942 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Glaukos by 2.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,956 shares of the medical instruments supplier’s stock valued at $1,427,000 after acquiring an additional 231 shares in the last quarter. Bellevue Group AG lifted its stake in Glaukos by 12.6% during the third quarter. Bellevue Group AG now owns 62,983 shares of the medical instruments supplier’s stock worth $8,205,000 after purchasing an additional 7,057 shares during the last quarter. Finally, Cinctive Capital Management LP boosted its holdings in Glaukos by 18.5% in the third quarter. Cinctive Capital Management LP now owns 61,983 shares of the medical instruments supplier’s stock worth $8,075,000 after purchasing an additional 9,683 shares during the period. Institutional investors own 99.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. UBS Group started coverage on shares of Glaukos in a report on Friday, December 6th. They set a “buy” rating and a $182.00 target price on the stock. Stifel Nicolaus raised their target price on shares of Glaukos from $153.00 to $175.00 and gave the stock a “buy” rating in a report on Tuesday, December 31st. Citigroup raised Glaukos from a “neutral” rating to a “buy” rating and upped their target price for the company from $132.00 to $162.00 in a report on Wednesday, December 11th. Morgan Stanley downgraded Glaukos from an “equal weight” rating to an “underweight” rating and set a $120.00 price target on the stock. in a report on Monday, December 2nd. Finally, Needham & Company LLC upped their price objective on Glaukos from $149.00 to $176.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. One equities research 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. Based on data from MarketBeat, Glaukos presently has a consensus rating of “Moderate Buy” and an average target price of $163.25.

Glaukos Price Performance

Shares of NYSE GKOS opened at $101.97 on Monday. The stock has a market cap of $5.77 billion, a P/E ratio of -35.53 and a beta of 0.99. The firm’s 50-day simple moving average is $130.52 and its 200 day simple moving average is $135.78. Glaukos Co. has a fifty-two week low of $88.16 and a fifty-two week high of $163.71. The company has a quick ratio of 4.71, a current ratio of 5.54 and a debt-to-equity ratio of 0.19.

Glaukos (NYSE:GKOS) last released its quarterly earnings results on Thursday, February 20th. The medical instruments supplier reported ($0.40) 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 the consensus estimate of $100.72 million. Glaukos had a negative return on equity of 16.53% and a negative net margin of 39.04%. Equities analysts expect that Glaukos Co. will post -1.08 EPS for the current year.

Insiders Place Their Bets

In related news, insider Tomas Navratil sold 3,416 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $147.14, for a total value of $502,630.24. Following the sale, the insider now directly owns 72,437 shares in the company, valued at $10,658,380.18. The trade was a 4.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Alex R. Thurman sold 1,520 shares of the 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 of the company’s stock, valued at $5,708,568.04. This trade represents a 2.77 % decrease in their position. The disclosure for this sale can be found here. 6.40% of the stock is currently owned by 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.