Glaukos Corporation $GKOS Stock Sold by Riverbridge Partners LLC

Riverbridge Partners LLC lessened its stake in shares of Glaukos Corporation (NYSE:GKOS) by 20.8% in the 3rd quarter, Holdings Channel reports. The firm owned 223,445 shares of the medical instruments supplier’s stock after selling 58,644 shares during the period. Glaukos accounts for 1.1% of Riverbridge Partners LLC’s investment portfolio, making the stock its 27th largest holding. Riverbridge Partners LLC’s holdings in Glaukos were worth $36,687,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Illinois Municipal Retirement Fund boosted its holdings in Glaukos by 17.7% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 30,142 shares of the medical instruments supplier’s stock worth $4,949,000 after buying an additional 4,528 shares during the last quarter. New York Life Investment Management LLC purchased a new stake in Glaukos during the 3rd quarter worth approximately $1,445,000. M&G PLC acquired a new position in shares of Glaukos during the third quarter valued at approximately $14,047,000. Fulcrum Asset Management LLP raised its holdings in shares of Glaukos by 91.7% during the third quarter. Fulcrum Asset Management LLP now owns 184 shares of the medical instruments supplier’s stock valued at $29,000 after acquiring an additional 88 shares during the last quarter. Finally, Ethic Inc. acquired a new position in shares of Glaukos during the third quarter valued at approximately $451,000. Institutional investors and hedge funds own 99.04% of the company’s stock.

Glaukos Stock Performance

NYSE:GKOS opened at $236.81 on Wednesday. The company’s 50-day moving average price is $180.57 and its 200-day moving average price is $145.22. 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 company has a market cap of $14.02 billion, a P/E 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.

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on GKOS shares. Weiss Ratings restated a “sell (d-)” rating on shares of Glaukos in a research report on Thursday, October 15th. Mizuho set a $225.00 price target on Glaukos in a research note on Thursday, October 29th. BTIG Research boosted their price target on Glaukos from $205.00 to $234.00 and gave the stock a “buy” rating in a research report on Thursday, October 29th. Needham & Company LLC boosted their price target on Glaukos from $201.00 to $251.00 and gave the stock a “buy” rating in a research report on Thursday, October 29th. Finally, Stifel Nicolaus increased their price objective on Glaukos from $190.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $216.71.

Insider Buying and Selling

In other Glaukos news, Director Gilbert Kliman sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $253.00, for a total value of $632,500.00. Following the transaction, the director directly owned 37,406 shares of the company’s stock, valued at $9,463,718. This trade represents a 6.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 5.90% of the company’s stock.

Glaukos Company 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.