Glaukos Corporation $GKOS Shares Sold by Taylor Frigon Capital Management LLC

Taylor Frigon Capital Management LLC cut its holdings in Glaukos Corporation (NYSE:GKOS) by 17.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,445 shares of the medical instruments supplier’s stock after selling 4,980 shares during the quarter. Glaukos accounts for 1.4% of Taylor Frigon Capital Management LLC’s investment portfolio, making the stock its 12th largest position. Taylor Frigon Capital Management LLC’s holdings in Glaukos were worth $2,524,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. First Horizon Corp boosted its holdings in Glaukos by 1,715.4% in the 4th quarter. First Horizon Corp now owns 236 shares of the medical instruments supplier’s stock worth $27,000 after buying an additional 223 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Glaukos during the fourth quarter valued at approximately $28,000. Larson Financial Group LLC lifted its position in shares of Glaukos by 62.0% in the fourth quarter. Larson Financial Group LLC now owns 345 shares of the medical instruments supplier’s stock valued at $39,000 after acquiring an additional 132 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of Glaukos by 111.4% in the fourth quarter. Farther Finance Advisors LLC now owns 408 shares of the medical instruments supplier’s stock valued at $46,000 after acquiring an additional 215 shares in the last quarter. Finally, Salomon & Ludwin LLC boosted its stake in shares of Glaukos by 111.2% in the fourth quarter. Salomon & Ludwin LLC now owns 454 shares of the medical instruments supplier’s stock worth $51,000 after acquiring an additional 239 shares during the last quarter. Hedge funds and other institutional investors own 99.04% of the company’s stock.

Insiders Place Their Bets

In other Glaukos news, Director Leana Wen sold 1,700 shares of Glaukos stock in a transaction on Friday, May 1st. The stock was sold at an average price of $143.35, for a total value of $243,695.00. Following the sale, the director owned 19,739 shares in the company, valued at $2,829,585.65. The trade was a 7.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gilbert H. Kliman sold 5,000 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $140.76, for a total value of $703,800.00. Following the completion of the transaction, the director directly owned 35,528 shares in the company, valued at approximately $5,000,921.28. This trade represents a 12.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 51,273 shares of company stock worth $7,332,003 in the last three months. 5.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

GKOS has been the subject of several research reports. Wall Street Zen upgraded Glaukos from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. Piper Sandler reaffirmed an “overweight” rating and set a $165.00 target price on shares of Glaukos in a research note on Wednesday, July 1st. Wells Fargo & Company lifted their target price on shares of Glaukos from $135.00 to $138.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. William Blair reiterated an “outperform” rating on shares of Glaukos in a research report on Tuesday, May 26th. Finally, Stifel Nicolaus set a $170.00 price target on shares of Glaukos in a research note on Thursday, April 30th. Thirteen analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $151.62.

Glaukos Trading Up 1.5%

Shares of GKOS stock opened at $152.89 on Thursday. The company has a current ratio of 5.43, a quick ratio of 4.73 and a debt-to-equity ratio of 0.10. The company’s 50-day moving average price is $131.05 and its 200-day moving average price is $120.19. Glaukos Corporation has a twelve month low of $73.16 and a twelve month high of $154.61. The stock has a market cap of $8.98 billion, a price-to-earnings ratio of -46.61 and a beta of 0.75.

Glaukos (NYSE:GKOS) last posted its quarterly earnings results on Wednesday, April 29th. The medical instruments supplier reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.12. The business had revenue of $150.57 million during the quarter, compared to analysts’ expectations of $137.00 million. Glaukos had a negative net margin of 34.34% and a negative return on equity of 6.92%. The business’s revenue for the quarter was up 41.2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.22) EPS. As a group, equities analysts predict that Glaukos Corporation will post -0.57 earnings per share for the current year.

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.