Allspring Global Investments Holdings LLC Sells 21,757 Shares of Glaukos Co. (NYSE:GKOS)

Allspring Global Investments Holdings LLC lessened its holdings in shares of Glaukos Co. (NYSE:GKOS) by 5.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 390,619 shares of the medical instruments supplier’s stock after selling 21,757 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.78% of Glaukos worth $50,890,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Caldwell Sutter Capital Inc. raised its stake in Glaukos by 5,860.0% in the first quarter. Caldwell Sutter Capital Inc. now owns 1,490 shares of the medical instruments supplier’s stock valued at $140,000 after purchasing an additional 1,465 shares in the last quarter. GAMMA Investing LLC raised 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 valued at $141,000 after buying an additional 486 shares in the last quarter. Fifth Third Wealth Advisors LLC purchased a new position in Glaukos in the second quarter worth $187,000. Brighton Jones LLC bought a new position in Glaukos in the second quarter valued at $208,000. Finally, Procyon Advisors LLC bought a new stake in Glaukos during the third quarter worth about $210,000. Hedge funds and other institutional investors own 99.04% of the company’s stock.

Glaukos Stock Performance

Shares of NYSE:GKOS opened at $131.59 on Wednesday. The company has a current ratio of 5.48, a quick ratio of 4.67 and a debt-to-equity ratio of 0.19. The company has a 50-day moving average price of $128.74 and a 200-day moving average price of $117.78. The company has a market cap of $6.63 billion, a price-to-earnings ratio of -45.69 and a beta of 1.02. Glaukos Co. has a 12 month low of $59.22 and a 12 month high of $136.60.

Glaukos (NYSE:GKOS) last released its quarterly earnings results on Wednesday, July 31st. The medical instruments supplier reported ($0.52) EPS for the quarter, meeting analysts’ consensus estimates of ($0.52). The business had revenue of $95.70 million during the quarter, compared to analyst estimates of $88.86 million. Glaukos had a negative return on equity of 22.51% and a negative net margin of 47.39%. Glaukos’s quarterly revenue was up 19.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.55) EPS. As a group, equities analysts anticipate that Glaukos Co. will post -2.18 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Piper Sandler set a $140.00 price objective on Glaukos in a report on Thursday, October 17th. Citigroup downgraded shares of Glaukos from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $130.00 to $132.00 in a research note on Wednesday, July 10th. StockNews.com raised shares of Glaukos from a “sell” rating to a “hold” rating in a research note on Monday. BTIG Research lifted their target price on shares of Glaukos from $131.00 to $139.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Finally, Truist Financial upped their price target on shares of Glaukos from $145.00 to $152.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Glaukos presently has a consensus rating of “Moderate Buy” and an average price target of $130.45.

Insider Activity at Glaukos

In related news, Director Aimee S. Weisner sold 25,000 shares of Glaukos stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $120.00, for a total value of $3,000,000.00. Following the sale, the director now owns 30,119 shares in the company, valued at $3,614,280. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Glaukos news, Director Aimee S. Weisner sold 25,000 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $120.00, for a total value of $3,000,000.00. Following the completion of the sale, the director now directly owns 30,119 shares in the company, valued at $3,614,280. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Gilbert H. Kliman sold 3,000 shares of Glaukos stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $130.67, for a total value of $392,010.00. Following the sale, the director now directly owns 32,336 shares in the company, valued at approximately $4,225,345.12. The trade was 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 quarter. 6.40% of the stock is owned by corporate insiders.

Glaukos Company 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.