Glaukos Corporation (GKOS) Receives Buy Rating from Stephens
Glaukos Corporation (NYSE:GKOS)‘s stock had its “buy” rating reaffirmed by stock analysts at Stephens in a research report issued on Friday. They presently have a $47.00 price objective on the medical instruments supplier’s stock. Stephens’ price objective indicates a potential upside of 49.68% from the company’s previous close.
GKOS has been the subject of a number of other research reports. BidaskClub raised Glaukos Corporation from a “hold” rating to a “buy” rating in a report on Tuesday. Zacks Investment Research cut Glaukos Corporation from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 12th. Piper Jaffray Companies reissued a “buy” rating and set a $56.00 target price on shares of Glaukos Corporation in a report on Thursday, August 3rd. Roth Capital reduced 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. Finally, Cantor Fitzgerald reissued a “buy” rating and set a $60.00 target price on shares of Glaukos Corporation in a report on Thursday. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Glaukos Corporation presently has an average rating of “Buy” and a consensus target price of $49.86.
Glaukos Corporation (NYSE:GKOS) traded down 7.21% during mid-day trading on Friday, reaching $31.40. The company’s stock had a trading volume of 4,627,841 shares. The company’s market cap is $1.08 billion. Glaukos Corporation has a 12-month low of $28.72 and a 12-month high of $52.49. The firm’s 50 day moving average is $39.49 and its 200-day moving average is $43.11.
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In other Glaukos Corporation news, CEO Thomas William Burns sold 1,212 shares of the firm’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $41.25, for a total transaction of $49,995.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Orbimed Advisors Llc sold 325,000 shares of the firm’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $37.93, for a total value of $12,327,250.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 980,200 shares of company stock valued at $37,900,263. Insiders own 16.40% of the company’s stock.
A number of hedge funds have recently bought and sold shares of GKOS. Teachers Advisors LLC increased its stake in Glaukos Corporation by 5.7% during the fourth quarter. Teachers Advisors LLC now owns 27,789 shares of the medical instruments supplier’s stock worth $953,000 after acquiring an additional 1,506 shares during the last quarter. Nationwide Fund Advisors increased its stake in Glaukos Corporation by 749.3% during the first quarter. Nationwide Fund Advisors now owns 89,101 shares of the medical instruments supplier’s stock worth $4,571,000 after acquiring an additional 78,610 shares during the last quarter. Great West Life Assurance Co. Can acquired a new stake in Glaukos Corporation during the first quarter worth $102,000. American Century Companies Inc. increased its stake in Glaukos Corporation by 2.6% during the first quarter. American Century Companies Inc. now owns 135,082 shares of the medical instruments supplier’s stock worth $6,930,000 after acquiring an additional 3,458 shares during the last quarter. Finally, Comerica Bank acquired a new stake in Glaukos Corporation during the first quarter worth $1,562,000.
About Glaukos Corporation
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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