Truist Financial Corp Sells 20,495 Shares of Glaukos Co. (NYSE:GKOS)

Truist Financial Corp decreased its holdings in Glaukos Co. (NYSE:GKOS) by 44.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,023 shares of the medical instruments supplier’s stock after selling 20,495 shares during the quarter. Truist Financial Corp owned about 0.05% of Glaukos worth $2,069,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in GKOS. Semanteon Capital Management LP bought a new position in Glaukos in the fourth quarter worth about $531,000. State of New Jersey Common Pension Fund D raised its position in shares of Glaukos by 26.9% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 41,883 shares of the medical instruments supplier’s stock worth $3,329,000 after acquiring an additional 8,884 shares in the last quarter. Yousif Capital Management LLC lifted its stake in shares of Glaukos by 1.9% in the 4th quarter. Yousif Capital Management LLC now owns 24,749 shares of the medical instruments supplier’s stock valued at $1,967,000 after purchasing an additional 465 shares during the period. GAMMA Investing LLC purchased a new stake in Glaukos in the fourth quarter worth $55,000. Finally, Illinois Municipal Retirement Fund raised its holdings in Glaukos by 8.0% in the fourth quarter. Illinois Municipal Retirement Fund now owns 29,336 shares of the medical instruments supplier’s stock worth $2,332,000 after purchasing an additional 2,166 shares in the last quarter. 99.04% of the stock is currently owned by institutional investors.

Glaukos Price Performance

Shares of NYSE:GKOS opened at $107.64 on Friday. The business has a 50-day simple moving average of $94.66 and a two-hundred day simple moving average of $83.95. The company has a debt-to-equity ratio of 0.78, a quick ratio of 4.68 and a current ratio of 5.38. The firm has a market cap of $5.42 billion, a price-to-earnings ratio of -37.38 and a beta of 1.08. Glaukos Co. has a fifty-two week low of $54.38 and a fifty-two week high of $110.73.

Glaukos (NYSE:GKOS) last issued its earnings results on Wednesday, May 1st. The medical instruments supplier reported ($0.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.58) by ($0.12). The company had revenue of $85.60 million during the quarter, compared to analysts’ expectations of $79.60 million. Glaukos had a negative return on equity of 24.69% and a negative net margin of 43.15%. The company’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.59) EPS. On average, analysts expect that Glaukos Co. will post -2.2 earnings per share for the current year.

Insider Buying and Selling at Glaukos

In other news, Director Mark J. Foley sold 4,560 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $92.87, for a total value of $423,487.20. Following the transaction, the director now owns 33,220 shares in the company, valued at approximately $3,085,141.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Glaukos news, Director Marc Stapley sold 6,250 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $90.09, for a total value of $563,062.50. Following the completion of the sale, the director now owns 32,360 shares in the company, valued at $2,915,312.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Mark J. Foley sold 4,560 shares of Glaukos stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $92.87, for a total value of $423,487.20. Following the transaction, the director now directly owns 33,220 shares in the company, valued at $3,085,141.40. The disclosure for this sale can be found here. Insiders sold a total of 230,544 shares of company stock worth $21,767,497 in the last three months. 6.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently commented on GKOS shares. Wells Fargo & Company boosted their target price on shares of Glaukos from $103.00 to $110.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Citigroup raised their target price on shares of Glaukos from $107.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, March 25th. BTIG Research upped their price target on Glaukos from $107.00 to $112.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. JPMorgan Chase & Co. lifted their price objective on Glaukos from $108.00 to $110.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Finally, Jefferies Financial Group raised Glaukos from a “hold” rating to a “buy” rating and increased their target price for the stock from $84.00 to $125.00 in a research note on Monday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Glaukos presently has an average rating of “Moderate Buy” and a consensus target price of $108.64.

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.