Taylor Frigon Capital Management LLC Sells 11,654 Shares of Glaukos Co. (NYSE:GKOS)

Taylor Frigon Capital Management LLC trimmed its stake in shares of Glaukos Co. (NYSE:GKOS) by 29.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,022 shares of the medical instruments supplier’s stock after selling 11,654 shares during the quarter. Glaukos accounts for 1.8% of Taylor Frigon Capital Management LLC’s holdings, making the stock its 10th largest holding. Taylor Frigon Capital Management LLC owned about 0.06% of Glaukos worth $3,638,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of GKOS. Caldwell Sutter Capital Inc. grew its stake in shares of Glaukos by 5,860.0% during the first quarter. Caldwell Sutter Capital Inc. now owns 1,490 shares of the medical instruments supplier’s stock worth $140,000 after purchasing an additional 1,465 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Glaukos by 68.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,192 shares of the medical instruments supplier’s stock worth $141,000 after acquiring an additional 486 shares in the last quarter. Fifth Third Wealth Advisors LLC acquired a new position in shares of Glaukos during the 2nd quarter worth about $187,000. Brighton Jones LLC purchased a new position in shares of Glaukos in the 2nd quarter valued at about $208,000. Finally, Procyon Advisors LLC acquired a new stake in shares of Glaukos during the 3rd quarter worth about $210,000. Hedge funds and other institutional investors own 99.04% of the company’s stock.

Insider Activity at Glaukos

In other news, Director Gilbert H. Kliman sold 3,000 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $130.67, for a total transaction of $392,010.00. Following the completion of the transaction, the director now directly owns 32,336 shares of the company’s stock, valued at approximately $4,225,345.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, COO Joseph E. Gilliam sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $129.36, for a total value of $646,800.00. Following the sale, the chief operating officer now owns 102,169 shares in the company, valued at $13,216,581.84. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Gilbert H. Kliman sold 3,000 shares of Glaukos stock in a transaction on Monday, September 9th. The stock was sold at an average price of $130.67, for a total value of $392,010.00. Following the transaction, the director now directly owns 32,336 shares of the company’s stock, valued at approximately $4,225,345.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 39,250 shares of company stock worth $4,825,873 over the last 90 days. Company insiders own 6.40% of the company’s stock.

Analyst Ratings Changes

GKOS has been the subject of a number of research analyst reports. Truist Financial upped their price target on Glaukos from $145.00 to $152.00 and gave the company a “buy” rating in a report on Monday, October 14th. Wells Fargo & Company upped their target price on shares of Glaukos from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Morgan Stanley increased their target price on shares of Glaukos from $100.00 to $120.00 and gave the company an “equal weight” rating in a research report on Monday, July 15th. Stifel Nicolaus upped their price objective on shares of Glaukos from $130.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Finally, Piper Sandler set a $140.00 price objective on Glaukos in a report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $130.45.

Glaukos Stock Performance

Shares of GKOS stock traded up $1.31 during midday trading on Thursday, hitting $131.25. The company had a trading volume of 132,063 shares, compared to its average volume of 569,237. The company has a debt-to-equity ratio of 0.19, a current ratio of 5.48 and a quick ratio of 4.67. The company’s 50 day simple moving average is $128.90 and its 200 day simple moving average is $117.87. Glaukos Co. has a 52-week low of $59.22 and a 52-week high of $136.60. The stock has a market cap of $6.61 billion, a price-to-earnings ratio of -45.57 and a beta of 1.02.

Glaukos (NYSE:GKOS) last released its earnings results on Wednesday, July 31st. The medical instruments supplier reported ($0.52) EPS for the quarter, hitting the consensus estimate of ($0.52). Glaukos had a negative net margin of 47.39% and a negative return on equity of 22.51%. The company had revenue of $95.70 million during the quarter, compared to analysts’ expectations of $88.86 million. During the same quarter last year, the business earned ($0.55) EPS. The business’s revenue was up 19.0% on a year-over-year basis. Research analysts anticipate that Glaukos Co. will post -2.18 earnings per share for the current fiscal year.

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.