Riverbridge Partners LLC Sells 34,475 Shares of Glaukos Corporation $GKOS

Riverbridge Partners LLC reduced its stake in Glaukos Corporation (NYSE:GKOS) by 6.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 535,169 shares of the medical instruments supplier’s stock after selling 34,475 shares during the quarter. Glaukos comprises approximately 1.1% of Riverbridge Partners LLC’s portfolio, making the stock its 28th biggest holding. Riverbridge Partners LLC owned approximately 0.93% of Glaukos worth $60,426,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. AustralianSuper Pty Ltd increased its stake in Glaukos by 10.8% in the third quarter. AustralianSuper Pty Ltd now owns 449,846 shares of the medical instruments supplier’s stock valued at $36,685,000 after acquiring an additional 43,750 shares during the last quarter. JPMorgan Chase & Co. raised its position in Glaukos by 4.3% during the third quarter. JPMorgan Chase & Co. now owns 670,083 shares of the medical instruments supplier’s stock valued at $54,645,000 after purchasing an additional 27,646 shares in the last quarter. Holocene Advisors LP lifted its stake in Glaukos by 40.1% during the second quarter. Holocene Advisors LP now owns 1,045,886 shares of the medical instruments supplier’s stock worth $108,030,000 after purchasing an additional 299,118 shares during the last quarter. TD Asset Management Inc purchased a new position in shares of Glaukos in the 3rd quarter worth about $1,157,000. Finally, Public Sector Pension Investment Board boosted its holdings in shares of Glaukos by 14.8% in the 3rd quarter. Public Sector Pension Investment Board now owns 223,708 shares of the medical instruments supplier’s stock worth $18,243,000 after purchasing an additional 28,866 shares in the last quarter. 99.04% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GKOS. UBS Group raised their price objective on Glaukos from $140.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, December 23rd. Wells Fargo & Company upped their target price on Glaukos from $122.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 18th. Stephens increased their price target on shares of Glaukos from $115.00 to $145.00 and gave the company an “overweight” rating in a research report on Friday, January 2nd. BTIG Research reissued a “buy” rating and set a $131.00 price target on shares of Glaukos in a research note on Wednesday, February 18th. Finally, Wall Street Zen cut shares of Glaukos from a “buy” rating to a “hold” rating in a research note on Saturday, February 21st. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Glaukos currently has an average rating of “Moderate Buy” and an average price target of $133.69.

Glaukos Trading Down 1.3%

NYSE GKOS opened at $108.19 on Friday. The firm has a market cap of $6.28 billion, a PE ratio of -33.19 and a beta of 0.70. Glaukos Corporation has a 1-year low of $73.16 and a 1-year high of $130.23. The stock has a 50-day moving average of $113.29 and a 200-day moving average of $101.82. The company has a current ratio of 4.69, a quick ratio of 4.06 and a debt-to-equity ratio of 0.10.

Glaukos (NYSE:GKOS) last posted its quarterly earnings results on Tuesday, February 17th. The medical instruments supplier reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.06). The company had revenue of $143.12 million for the quarter, compared to the consensus estimate of $132.16 million. Glaukos had a negative return on equity of 7.00% and a negative net margin of 36.99%.Glaukos’s revenue was up 35.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.40) earnings per share. As a group, sell-side analysts forecast that Glaukos Corporation will post -1.08 EPS for the current year.

Insider Activity

In related news, Director Marc Stapley sold 15,000 shares of the company’s stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $127.71, for a total transaction of $1,915,650.00. Following the completion of the sale, the director directly owned 37,449 shares in the company, valued at $4,782,611.79. This represents a 28.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Thomas William Burns sold 186,945 shares of the stock in a transaction on Friday, January 16th. The shares were sold at an average price of $115.00, for a total transaction of $21,498,675.00. Following the sale, the chief executive officer directly owned 153,775 shares of the company’s stock, valued at $17,684,125. The trade was a 54.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 322,146 shares of company stock valued at $37,424,948. Corporate insiders own 5.80% of the company’s stock.

About Glaukos

Glaukos Corporation is a medical technology company specializing in the development, manufacturing and commercialization of innovative therapies for patients with glaucoma and other chronic eye diseases. The company’s core offerings focus on micro-invasive glaucoma surgery (MIGS), designed to reduce intraocular pressure and manage glaucoma more safely and effectively than traditional surgical approaches. Glaukos’s flagship products include the iStent, iStent inject and iStent infinite trabecular micro-bypass stents, which are implanted during cataract surgery to improve aqueous outflow and help control eye pressure.

Beyond its MIGS portfolio, Glaukos has expanded into sustained drug-delivery solutions.