Taylor Frigon Capital Management LLC Lowers Stock Position in Glaukos Co. (NYSE:GKOS)

Taylor Frigon Capital Management LLC lessened its stake in shares of Glaukos Co. (NYSE:GKOS – Get Rating) by 4.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,139 shares of the medical instruments supplier’s stock after selling 2,961 shares during the quarter. Glaukos accounts for about 1.6% of Taylor Frigon Capital Management LLC’s holdings, making the stock its 19th biggest holding. Taylor Frigon Capital Management LLC owned approximately 0.14% of Glaukos worth $2,845,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of GKOS. Bank of New York Mellon Corp boosted its stake in shares of Glaukos by 0.6% in the first quarter. Bank of New York Mellon Corp now owns 481,228 shares of the medical instruments supplier’s stock valued at $27,825,000 after purchasing an additional 2,843 shares during the period. HighTower Advisors LLC purchased a new position in shares of Glaukos in the first quarter valued at approximately $208,000. Natixis Advisors L.P. purchased a new position in shares of Glaukos in the first quarter valued at approximately $674,000. Bank of Montreal Can boosted its stake in shares of Glaukos by 14.2% in the first quarter. Bank of Montreal Can now owns 20,031 shares of the medical instruments supplier’s stock valued at $1,164,000 after purchasing an additional 2,485 shares during the period. Finally, MetLife Investment Management LLC boosted its stake in shares of Glaukos by 54.8% in the first quarter. MetLife Investment Management LLC now owns 25,057 shares of the medical instruments supplier’s stock valued at $1,449,000 after purchasing an additional 8,866 shares during the period. Hedge funds and other institutional investors own 92.17% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on GKOS. Citigroup raised their price objective on shares of Glaukos from $57.00 to $59.00 and gave the company a “buy” rating in a research note on Thursday, February 23rd. StockNews.com began coverage on shares of Glaukos in a research note on Thursday. They issued a “sell” rating for the company. Wells Fargo & Company decreased their price target on shares of Glaukos from $56.00 to $44.00 and set an “equal weight” rating for the company in a research note on Monday, December 12th. Stephens decreased their price target on shares of Glaukos from $69.00 to $68.00 and set an “overweight” rating for the company in a research note on Wednesday, December 28th. Finally, Needham & Company LLC decreased their price target on shares of Glaukos from $58.00 to $57.00 and set a “buy” rating for the company in a research note on Thursday, February 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Glaukos currently has an average rating of “Hold” and an average target price of $56.67.

Glaukos Stock Performance

Shares of Glaukos stock traded down $1.39 during trading on Friday, reaching $48.02. The company’s stock had a trading volume of 939,713 shares, compared to its average volume of 471,840. The company has a current ratio of 6.13, a quick ratio of 5.61 and a debt-to-equity ratio of 0.67. The firm has a market cap of $2.30 billion, a PE ratio of -22.98 and a beta of 1.24. The company has a 50-day moving average price of $48.80 and a two-hundred day moving average price of $49.59. Glaukos Co. has a fifty-two week low of $33.33 and a fifty-two week high of $64.49.

Glaukos (NYSE:GKOS – Get Rating) last announced its quarterly earnings data on Wednesday, February 22nd. The medical instruments supplier reported ($0.53) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.56) by $0.03. The company had revenue of $71.23 million for the quarter, compared to analysts’ expectations of $67.71 million. Glaukos had a negative net margin of 35.07% and a negative return on equity of 18.51%. On average, analysts forecast that Glaukos Co. will post -2.38 EPS for the current year.

Glaukos Company Profile

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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.