Zacks Investment Research Downgrades Glaukos (GKOS) to Sell

Glaukos (NYSE:GKOS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday.

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. BMO Capital Markets reiterated a “buy” rating and set a $45.00 price objective on shares of Glaukos in a research report on Wednesday, October 18th. Cantor Fitzgerald reiterated a “buy” rating and set a $60.00 price objective on shares of Glaukos in a research report on Tuesday, November 7th. Stephens reiterated an “overweight” rating and set a $40.00 price objective (down from $47.00) on shares of Glaukos in a research report on Monday, November 13th. Finally, ValuEngine cut shares of Glaukos from a “hold” rating to a “sell” rating in a research report on Monday, February 5th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $44.86.

Glaukos (NYSE:GKOS) opened at $31.01 on Tuesday. The stock has a market cap of $1,070.00 and a P/E ratio of -1,033.67. Glaukos has a 12-month low of $23.08 and a 12-month high of $52.49.

In other Glaukos news, CFO Joseph E. Gilliam purchased 2,100 shares of the firm’s stock in a transaction on Wednesday, November 22nd. The stock was purchased at an average cost of $23.84 per share, for a total transaction of $50,064.00. Following the transaction, the chief financial officer now owns 102,100 shares in the company, valued at approximately $2,434,064. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 16.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in GKOS. Shaker Investments LLC OH boosted its stake in shares of Glaukos by 6.3% in the 3rd quarter. Shaker Investments LLC OH now owns 47,025 shares of the medical instruments supplier’s stock valued at $1,552,000 after purchasing an additional 2,800 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Glaukos by 77.4% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 15,300 shares of the medical instruments supplier’s stock valued at $634,000 after purchasing an additional 6,676 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Glaukos by 15.1% in the 2nd quarter. Northern Trust Corp now owns 251,342 shares of the medical instruments supplier’s stock valued at $10,424,000 after purchasing an additional 33,017 shares during the last quarter. Wasatch Advisors Inc. bought a new stake in shares of Glaukos in the 4th quarter valued at $661,000. Finally, Schwab Charles Investment Management Inc. boosted its stake in shares of Glaukos by 48.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 73,637 shares of the medical instruments supplier’s stock valued at $3,054,000 after purchasing an additional 23,947 shares during the last quarter.

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About Glaukos

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.

Analyst Recommendations for Glaukos (NYSE:GKOS)

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