Sequoia Financial Advisors LLC Trims Stock Holdings in Glaukos Co. (NYSE:GKOS)

Sequoia Financial Advisors LLC lowered its holdings in Glaukos Co. (NYSE:GKOS) by 6.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,773 shares of the medical instruments supplier’s stock after selling 117 shares during the period. Sequoia Financial Advisors LLC’s holdings in Glaukos were worth $266,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the company. IFP Advisors Inc acquired a new stake in Glaukos in the 4th quarter valued at approximately $43,000. Asset Planning Inc bought a new stake in shares of Glaukos during the 4th quarter worth $90,000. Harvest Fund Management Co. Ltd boosted its position in shares of Glaukos by 2,263.2% in the third quarter. Harvest Fund Management Co. Ltd now owns 898 shares of the medical instruments supplier’s stock worth $117,000 after buying an additional 860 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Glaukos in the fourth quarter worth $153,000. Finally, Smartleaf Asset Management LLC boosted its position in shares of Glaukos by 275.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,100 shares of the medical instruments supplier’s stock worth $164,000 after buying an additional 807 shares during the period. Institutional investors own 99.04% of the company’s stock.

Wall Street Analyst Weigh In

GKOS has been the topic of several recent research reports. UBS Group initiated coverage on Glaukos in a report on Friday, December 6th. They set a “buy” rating and a $182.00 target price on the stock. Truist Financial lifted their price objective on Glaukos from $152.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Mizuho raised Glaukos from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $140.00 to $200.00 in a research report on Wednesday, February 19th. Stephens raised Glaukos to a “strong-buy” rating in a research report on Monday, December 2nd. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $180.00 price objective (up from $140.00) on shares of Glaukos in a report on Monday, January 27th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $163.25.

Glaukos Stock Performance

Shares of NYSE:GKOS opened at $101.34 on Thursday. The company’s 50 day simple moving average is $137.56 and its 200 day simple moving average is $137.00. The stock has a market capitalization of $5.73 billion, a price-to-earnings ratio of -35.31 and a beta of 0.99. The company has a debt-to-equity ratio of 0.19, a current ratio of 5.54 and a quick ratio of 4.71. Glaukos Co. has a 1 year low of $85.31 and a 1 year high of $163.71.

Glaukos (NYSE:GKOS) last posted its earnings results 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). Glaukos had a negative return on equity of 16.53% and a negative net margin of 39.04%. The company had revenue of $105.50 million for the quarter, compared to the consensus estimate of $100.72 million. As a group, research analysts predict that Glaukos Co. will post -1.08 EPS for the current fiscal year.

Insider Activity at Glaukos

In other news, COO Joseph E. Gilliam sold 3,328 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $149.85, for a total transaction of $498,700.80. Following the completion of the transaction, the chief operating officer now directly owns 102,169 shares of the company’s stock, valued at $15,310,024.65. This represents a 3.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gilbert H. Kliman sold 10,000 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $150.28, for a total transaction of $1,502,800.00. Following the transaction, the director now directly owns 32,336 shares of the company’s stock, valued at $4,859,454.08. This represents a 23.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,744 shares of company stock worth $2,504,131 over the last quarter. 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.