Royal Bank of Canada Sells 1,598,320 Shares of Glaukos Co. (NYSE:GKOS)

Royal Bank of Canada trimmed its stake in Glaukos Co. (NYSE:GKOS – Get Rating) by 89.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 191,277 shares of the medical instruments supplier’s stock after selling 1,598,320 shares during the period. Royal Bank of Canada owned approximately 0.40% of Glaukos worth $10,185,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Point72 Asset Management L.P. boosted its stake in Glaukos by 13.8% in the second quarter. Point72 Asset Management L.P. now owns 1,321,902 shares of the medical instruments supplier’s stock worth $60,041,000 after buying an additional 160,347 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Glaukos by 39.2% in the third quarter. Dimensional Fund Advisors LP now owns 530,668 shares of the medical instruments supplier’s stock worth $28,253,000 after buying an additional 149,548 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Glaukos by 71.6% in the second quarter. Goldman Sachs Group Inc. now owns 323,467 shares of the medical instruments supplier’s stock worth $14,692,000 after buying an additional 134,989 shares in the last quarter. Vanguard Group Inc. boosted its stake in Glaukos by 1.9% in the first quarter. Vanguard Group Inc. now owns 5,215,765 shares of the medical instruments supplier’s stock worth $301,575,000 after buying an additional 99,170 shares in the last quarter. Finally, Stamina Capital Management LP purchased a new stake in Glaukos in the third quarter worth approximately $3,257,000. 92.17% of the stock is currently owned by institutional investors.

Glaukos Stock Performance

Shares of GKOS stock opened at $46.58 on Friday. The stock has a fifty day moving average of $48.43 and a 200 day moving average of $49.69. Glaukos Co. has a 52 week low of $33.33 and a 52 week high of $64.49. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of -22.29 and a beta of 1.24. The company has a quick ratio of 5.61, a current ratio of 6.13 and a debt-to-equity ratio of 0.67.

Glaukos (NYSE:GKOS – Get Rating) last posted its quarterly earnings data on Wednesday, February 22nd. The medical instruments supplier reported ($0.53) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.03. The business had revenue of $71.23 million during the quarter, compared to the consensus estimate of $67.71 million. Glaukos had a negative return on equity of 18.51% and a negative net margin of 35.07%. As a group, research analysts expect that Glaukos Co. will post -2.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Needham & Company LLC cut their target price on Glaukos from $58.00 to $57.00 and set a “buy” rating for the company in a research note on Thursday, February 23rd. StockNews.com lowered Glaukos from a “hold” rating to a “sell” rating in a research note on Thursday, February 23rd. Stephens dropped their price objective on Glaukos from $69.00 to $68.00 and set an “overweight” rating for the company in a research note on Wednesday, December 28th. JPMorgan Chase & Co. increased their price objective on Glaukos from $42.00 to $48.00 and gave the company a “neutral” rating in a research note on Thursday, February 23rd. Finally, William Blair reissued an “outperform” rating on shares of Glaukos in a research note on Wednesday, February 22nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $56.67.

Glaukos Company Profile

(Get Rating)

Glaukos Corp. is an ophthalmic medical technology and pharmaceutical company, which focuses on novel therapies for the treatment of glaucoma, corneal disorders and retinal diseases. It engages in development and commercialization of therapies across several end markets within ophthalmology. The company was founded by Olav B.