Glaukos Corporation $GKOS Shares Sold by Riverbridge Partners LLC

Riverbridge Partners LLC trimmed its stake in shares of Glaukos Corporation (NYSE:GKOS) by 20.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 223,445 shares of the medical instruments supplier’s stock after selling 58,644 shares during the period. Glaukos comprises 1.1% of Riverbridge Partners LLC’s holdings, making the stock its 27th largest position. Riverbridge Partners LLC owned approximately 0.38% of Glaukos worth $36,687,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of GKOS. BlackRock Inc. acquired a new position in Glaukos in the second quarter valued at approximately $1,333,318,000. Janus Henderson Group PLC boosted its position in Glaukos by 77.2% in the 1st quarter. Janus Henderson Group PLC now owns 5,348,395 shares of the medical instruments supplier’s stock worth $575,844,000 after purchasing an additional 2,329,608 shares in the last quarter. Jupiter Topco LLC purchased a new stake in Glaukos in the 2nd quarter worth approximately $679,614,000. Primecap Management Co. CA acquired a new stake in shares of Glaukos during the 2nd quarter worth approximately $424,969,000. Finally, William Blair Investment Management LLC acquired a new stake in shares of Glaukos during the 2nd quarter worth approximately $92,476,000. 99.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GKOS has been the subject of several recent research reports. Piper Sandler reaffirmed an “overweight” rating and set a $240.00 target price (up from $195.00) on shares of Glaukos in a report on Thursday, October 29th. Needham & Company LLC increased their price target on shares of Glaukos from $201.00 to $251.00 and gave the stock a “buy” rating in a report on Thursday, October 29th. Wall Street Zen raised shares of Glaukos from a “buy” rating to a “strong-buy” rating in a report on Saturday. Citigroup raised their price target on shares of Glaukos from $225.00 to $247.00 and gave the company a “buy” rating in a research report on Thursday, October 29th. Finally, JPMorgan Chase & Co. raised their price target on shares of Glaukos from $200.00 to $240.00 and gave the company an “overweight” rating in a research report on Thursday, October 29th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $216.71.

Glaukos Stock Performance

NYSE GKOS opened at $236.81 on Wednesday. The stock has a market capitalization of $14.02 billion, a price-to-earnings ratio of -80.55 and a beta of 0.68. Glaukos Corporation has a twelve month low of $87.32 and a twelve month high of $255.18. The company has a current ratio of 4.57, a quick ratio of 4.09 and a debt-to-equity ratio of 0.09. The stock has a 50-day moving average of $180.57 and a 200 day moving average of $145.22.

Glaukos (NYSE:GKOS) last issued its quarterly earnings results on Wednesday, October 28th. The medical instruments supplier reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.57. Glaukos had a negative return on equity of 0.97% and a negative net margin of 24.60%. The company had revenue of $211.03 million for the quarter, compared to the consensus estimate of $168.04 million. During the same quarter in the prior year, the business posted ($0.16) earnings per share. Glaukos’s revenue for the quarter was up 58.0% on a year-over-year basis. Sell-side analysts anticipate that Glaukos Corporation will post 0.50 EPS for the current fiscal year.

Insider Buying and Selling at Glaukos

In other news, Director Gilbert Kliman sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $253.00, for a total transaction of $632,500.00. Following the completion of the transaction, the director directly owned 37,406 shares of the company’s stock, valued at $9,463,718. This represents a 6.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 5.90% of the stock is currently owned by insiders.

Glaukos Profile

Glaukos Corporation is an ophthalmic medical technology company that develops and commercializes treatments for glaucoma and other eye disorders. Its portfolio includes minimally invasive glaucoma surgery (MIGS) devices, such as the iStent family, and iDose TR, an implant designed to deliver glaucoma medication inside the eye over an extended period. The company also offers products for corneal disorders, including technology used in corneal cross-linking procedures to treat keratoconus and other conditions that weaken the cornea.