Glaukos Co. (NYSE:GKOS) Shares Sold by Artisan Partners Limited Partnership

Artisan Partners Limited Partnership lowered its stake in Glaukos Co. (NYSE:GKOS) by 40.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 471,849 shares of the medical instruments supplier’s stock after selling 323,397 shares during the period. Artisan Partners Limited Partnership owned 0.86% of Glaukos worth $70,749,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Wellington Management Group LLP raised its stake in Glaukos by 294.5% in the 3rd quarter. Wellington Management Group LLP now owns 2,183,766 shares of the medical instruments supplier’s stock worth $284,501,000 after acquiring an additional 1,630,270 shares during the last quarter. William Blair Investment Management LLC purchased a new position in shares of Glaukos in the fourth quarter worth about $121,390,000. Charles Schwab Investment Management Inc. raised its stake in shares of Glaukos by 47.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 641,761 shares of the medical instruments supplier’s stock worth $83,609,000 after purchasing an additional 207,338 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Glaukos during the fourth quarter worth about $16,910,000. Finally, Vanguard Group Inc. boosted its position in Glaukos by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 5,974,971 shares of the medical instruments supplier’s stock valued at $895,887,000 after buying an additional 101,838 shares during the last quarter. 99.04% of the stock is currently owned by institutional investors and hedge funds.

Glaukos Price Performance

Shares of NYSE GKOS opened at $103.67 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.71 and a current ratio of 5.54. The firm has a fifty day moving average of $131.61 and a 200 day moving average of $135.83. The firm has a market cap of $5.86 billion, a PE ratio of -36.12 and a beta of 0.99. Glaukos Co. has a one year low of $88.16 and a one year high of $163.71.

Glaukos (NYSE:GKOS) last released its 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 analysts’ expectations of $100.72 million. Glaukos had a negative return on equity of 16.53% and a negative net margin of 39.04%. As a group, research analysts predict that Glaukos Co. will post -1.08 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on the stock. Morgan Stanley cut shares of Glaukos from an “equal weight” rating to an “underweight” rating and set a $120.00 price objective for the company. in a research note on Monday, December 2nd. Piper Sandler reaffirmed an “overweight” rating and issued a $180.00 price target (up from $140.00) on shares of Glaukos in a report on Monday, January 27th. Mizuho upgraded Glaukos from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $140.00 to $200.00 in a research note on Wednesday, February 19th. Stifel Nicolaus upped their target price on Glaukos from $153.00 to $175.00 and gave the stock a “buy” rating in a research note on Tuesday, December 31st. Finally, Needham & Company LLC lifted their price target on Glaukos from $149.00 to $176.00 and gave the company a “buy” rating in a research report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Glaukos presently has a consensus rating of “Moderate Buy” and a consensus price target of $163.25.

Insider Activity

In related news, CFO Alex R. Thurman sold 1,520 shares of the company’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $106.84, for a total transaction of $162,396.80. Following the completion of the sale, the chief financial officer now owns 53,431 shares of the company’s stock, valued at approximately $5,708,568.04. This represents a 2.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Tomas Navratil sold 3,416 shares of the stock in a transaction dated Friday, February 14th. The shares were 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 owns 72,437 shares of the company’s stock, 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. Company insiders own 6.40% of the company’s stock.

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.