Taylor Frigon Capital Management LLC Reduces Stock Position in Glaukos Co. (NYSE:GKOS)

Taylor Frigon Capital Management LLC decreased its position in shares of Glaukos Co. (NYSE:GKOS) by 10.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,012 shares of the medical instruments supplier’s stock after selling 3,010 shares during the quarter. Glaukos makes up 1.9% of Taylor Frigon Capital Management LLC’s holdings, making the stock its 9th largest holding. Taylor Frigon Capital Management LLC’s holdings in Glaukos were worth $3,750,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Illinois Municipal Retirement Fund lifted its stake in shares of Glaukos by 5.6% during the 4th quarter. Illinois Municipal Retirement Fund now owns 29,418 shares of the medical instruments supplier’s stock worth $4,411,000 after purchasing an additional 1,556 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Glaukos by 3.2% during the 4th quarter. Bank of New York Mellon Corp now owns 397,842 shares of the medical instruments supplier’s stock worth $59,652,000 after purchasing an additional 12,376 shares during the last quarter. IFP Advisors Inc purchased a new stake in shares of Glaukos during the 4th quarter worth $43,000. Handelsbanken Fonder AB lifted its stake in shares of Glaukos by 0.7% during the 4th quarter. Handelsbanken Fonder AB now owns 14,700 shares of the medical instruments supplier’s stock worth $2,204,000 after purchasing an additional 100 shares during the last quarter. Finally, CIBC Asset Management Inc purchased a new stake in shares of Glaukos during the 4th quarter worth $227,000. 99.04% of the stock is currently owned by hedge funds and other institutional investors.

Glaukos Stock Down 0.1 %

Shares of GKOS stock opened at $120.35 on Thursday. The stock’s 50-day simple moving average is $151.35 and its 200-day simple moving average is $139.46. 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 market capitalization of $6.64 billion, a PE ratio of -41.93 and a beta of 1.04. Glaukos Co. has a fifty-two week low of $83.90 and a fifty-two week high of $163.71.

Glaukos (NYSE:GKOS) last announced its quarterly earnings data on Thursday, February 20th. The medical instruments supplier reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.02). The firm had revenue of $105.50 million during the quarter, compared to analyst estimates of $100.72 million. Glaukos had a negative net margin of 39.04% and a negative return on equity of 16.53%. Equities analysts expect that Glaukos Co. will post -1.08 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Gilbert H. Kliman sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $144.01, for a total transaction of $288,020.00. Following the sale, the director now directly owns 32,336 shares of the company’s stock, valued at $4,656,707.36. This trade represents a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Tomas Navratil sold 3,416 shares of the firm’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 completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,744 shares of company stock valued at $2,792,151 over the last ninety days. Company insiders own 6.40% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on GKOS shares. 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. Citigroup upgraded Glaukos from a “neutral” rating to a “buy” rating and increased their price target for the company from $132.00 to $162.00 in a research note on Wednesday, December 11th. Wells Fargo & Company increased their price target on Glaukos from $153.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Morgan Stanley cut Glaukos from an “equal weight” rating to an “underweight” rating and set a $120.00 price target for the company. in a research note on Monday, December 2nd. Finally, BTIG Research increased their price target on Glaukos from $140.00 to $149.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. One research 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 company’s stock. According to MarketBeat, Glaukos currently has an average rating of “Moderate Buy” and a consensus price target of $163.25.

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.