Insider Selling: Glaukos Corp (GKOS) Director Sells 325,000 Shares of Stock
Glaukos Corp (NYSE:GKOS) Director Orbimed Advisors Llc sold 325,000 shares of the stock in a transaction that occurred 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Glaukos Corp (NYSE:GKOS) traded down 0.58% during trading on Thursday, reaching $37.59. 547,755 shares of the company’s stock were exchanged. The stock’s market capitalization is $1.29 billion. The stock has a 50-day moving average of $39.90 and a 200-day moving average of $43.22. Glaukos Corp has a 52 week low of $28.26 and a 52 week high of $52.49.
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Several brokerages recently commented on GKOS. Zacks Investment Research raised shares of Glaukos Corp from a “hold” rating to a “strong-buy” rating and set a $48.00 price objective for the company in a research report on Tuesday, July 4th. BidaskClub raised shares of Glaukos Corp from a “sell” rating to a “hold” rating in a research report on Wednesday. Roth Capital decreased their price objective on shares of Glaukos Corp from $60.00 to $54.00 and set a “buy” rating for the company in a research report on Thursday, August 3rd. TheStreet lowered shares of Glaukos Corp from a “c” rating to a “d+” rating in a research report on Wednesday, May 3rd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $54.00 price objective on shares of Glaukos Corp in a research report on Thursday, May 4th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $52.33.
Several large investors have recently made changes to their positions in the stock. Great West Life Assurance Co. Can bought a new stake in shares of Glaukos Corp during the first quarter valued at approximately $102,000. Ameritas Investment Partners Inc. increased its stake in shares of Glaukos Corp by 93.1% in the second quarter. Ameritas Investment Partners Inc. now owns 2,514 shares of the medical instruments supplier’s stock valued at $104,000 after buying an additional 1,212 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of Glaukos Corp by 740.6% in the second quarter. BNP Paribas Arbitrage SA now owns 3,539 shares of the medical instruments supplier’s stock valued at $147,000 after buying an additional 3,118 shares during the last quarter. Prudential Financial Inc. bought a new stake in shares of Glaukos Corp during the first quarter valued at approximately $204,000. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of Glaukos Corp during the second quarter valued at approximately $262,000. Institutional investors and hedge funds own 90.12% of the company’s stock.
Glaukos Corp 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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