Zacks Investment Research downgraded shares of Glaukos Corporation (NYSE:GKOS) from a hold rating to a sell rating in a research note published on Wednesday morning.
According to Zacks, “Glaukos Corporation is an ophthalmic medical technology company. The Company develops, manufactures and markets medical devices for the treatment of glaucoma. Its product pipeline consists of iStent Inject, the iStent Supra and iDose. The company operates primarily in United States, Germany, Europe, the Asia Pacific, Canada and internationally. Glaukos Corporation is headquartered in Laguna Hills, California. “
A number of other equities analysts have also recently issued reports on GKOS. BidaskClub raised Glaukos Corporation from a hold rating to a buy rating in a report on Saturday, June 24th. Roth Capital lowered their target price on Glaukos Corporation from $60.00 to $54.00 and set a buy rating for the company in a report on Thursday, August 3rd. Piper Jaffray Companies reaffirmed a buy rating and issued a $56.00 target price on shares of Glaukos Corporation in a report on Thursday, August 3rd. BMO Capital Markets reissued a buy rating and issued a $54.00 price target on shares of Glaukos Corporation in a research note on Friday, September 1st. Finally, Cantor Fitzgerald reissued a buy rating and issued a $60.00 price target (up previously from $54.00) on shares of Glaukos Corporation in a research note on Thursday, September 14th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of Buy and an average target price of $49.86.
Shares of Glaukos Corporation (NYSE:GKOS) opened at 32.19 on Wednesday. Glaukos Corporation has a 12 month low of $28.72 and a 12 month high of $52.49. The company has a 50-day moving average price of $36.29 and a 200-day moving average price of $36.29. The firm’s market capitalization is $1.11 billion.
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In other news, CEO Thomas William Burns sold 1,212 shares of the stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $41.25, for a total value of $49,995.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Orbimed Advisors Llc sold 580,200 shares of the stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $38.73, for a total value of $22,471,146.00. The disclosure for this sale can be found here. In the last three months, insiders sold 980,200 shares of company stock valued at $37,900,263. Insiders own 16.40% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Navellier & Associates Inc increased its stake in shares of Glaukos Corporation by 4.9% in the second quarter. Navellier & Associates Inc now owns 33,307 shares of the medical instruments supplier’s stock valued at $1,381,000 after buying an additional 1,567 shares during the period. Public Employees Retirement System of Ohio grew its stake in Glaukos Corporation by 14.5% during the second quarter. Public Employees Retirement System of Ohio now owns 118,100 shares of the medical instruments supplier’s stock worth $4,898,000 after purchasing an additional 15,000 shares during the period. Koch Industries Inc. acquired a new stake in Glaukos Corporation during the second quarter worth approximately $683,000. Ameritas Investment Partners Inc. grew its stake in Glaukos Corporation by 93.1% during the second quarter. Ameritas Investment Partners Inc. now owns 2,514 shares of the medical instruments supplier’s stock worth $104,000 after purchasing an additional 1,212 shares during the period. Finally, California State Teachers Retirement System grew its stake in Glaukos Corporation by 54.0% during the second quarter. California State Teachers Retirement System now owns 50,752 shares of the medical instruments supplier’s stock worth $2,105,000 after purchasing an additional 17,800 shares during the period.
Glaukos Corporation Company Profile
Glaukos Corporation is an ophthalmic medical technology company. The Company focuses on the development and commercialization of products and procedures for the treatment of glaucoma. It offers iStent, a micro-invasive glaucoma surgery (MIGS) device. The iStent is a micro-bypass stent inserted through the small corneal incision made during cataract surgery and placed into Schlemm’s canal, a circular channel in the eye that collects aqueous humor and delivers it back into the bloodstream.
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