Zacks Investment Research Downgrades Glaukos Corporation (NYSE:GKOS) to Hold

Glaukos Corporation (NYSE:GKOS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Monday, July 24th.

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 brokerages also recently issued reports on GKOS. Cantor Fitzgerald restated an “overweight” rating and set a $54.00 price target on shares of Glaukos Corporation in a report on Thursday, May 4th. BMO Capital Markets restated a “buy” rating and set a $54.00 price target on shares of Glaukos Corporation in a report on Tuesday, April 11th. BidaskClub upgraded shares of Glaukos Corporation from a “hold” rating to a “buy” rating in a report on Saturday, June 24th. TheStreet downgraded shares of Glaukos Corporation from a “c” rating to a “d+” rating in a report on Wednesday, May 3rd. Finally, Stephens upgraded shares of Glaukos Corporation from an “equal weight” rating to an “overweight” rating in a report on Monday, May 8th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $52.33.

Glaukos Corporation (NYSE:GKOS) opened at 37.45 on Monday. The stock’s 50 day moving average price is $39.65 and its 200-day moving average price is $43.18. The stock’s market cap is $1.29 billion. Glaukos Corporation has a 12 month low of $28.26 and a 12 month high of $52.49.

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In other news, Director Orbimed Advisors Llc sold 325,000 shares of Glaukos Corporation stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $37.93, for a total transaction of $12,327,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 16.40% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. American Century Companies Inc. raised its position in Glaukos Corporation by 2.6% in the first quarter. American Century Companies Inc. now owns 135,082 shares of the medical instruments supplier’s stock worth $6,930,000 after buying an additional 3,458 shares in the last quarter. Great West Life Assurance Co. Can acquired a new position in Glaukos Corporation during the first quarter worth approximately $102,000. Tocqueville Asset Management L.P. purchased a new position in shares of Glaukos Corporation during the first quarter worth about $487,000. Wells Fargo & Company MN raised its position in shares of Glaukos Corporation by 73.2% in the first quarter. Wells Fargo & Company MN now owns 1,156,562 shares of the medical instruments supplier’s stock worth $59,332,000 after buying an additional 488,730 shares during the period. Finally, DUPONT CAPITAL MANAGEMENT Corp purchased a new position in shares of Glaukos Corporation during the first quarter worth about $776,000. Institutional investors own 90.12% of the company’s stock.

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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