Glaukos (GKOS) Cut to “Sell” at Zacks Investment Research

Glaukos (NYSE:GKOS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors 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. ValuEngine cut shares of Glaukos from a “hold” rating to a “sell” rating in a research note on Monday, February 5th. Cantor Fitzgerald set a $48.00 price target on shares of Glaukos and gave the stock a “buy” rating in a research note on Wednesday, January 10th. BMO Capital Markets dropped their price target on shares of Glaukos from $45.00 to $40.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 8th. Finally, Stephens reiterated an “overweight” rating and issued a $40.00 price target (down previously from $47.00) on shares of Glaukos in a research note on Monday, November 13th. 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 stock. The company currently has a consensus rating of “Hold” and an average price target of $44.86.

Shares of Glaukos (NYSE:GKOS) traded up $0.35 during mid-day trading on Tuesday, hitting $29.69. 272,073 shares of the stock were exchanged, compared to its average volume of 473,297. The company has a market cap of $1,030.00 and a PE ratio of -989.67. Glaukos has a 1 year low of $23.08 and a 1 year high of $52.49.

In related news, CFO Joseph E. Gilliam bought 2,100 shares of the stock in a transaction on Wednesday, November 22nd. The shares were acquired at an average price of $23.84 per share, for a total transaction of $50,064.00. Following the purchase, the chief financial officer now owns 102,100 shares of the company’s stock, valued at $2,434,064. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 16.40% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Janus Henderson Group PLC lifted its stake in Glaukos by 7.2% during the 3rd quarter. Janus Henderson Group PLC now owns 3,344,361 shares of the medical instruments supplier’s stock valued at $110,364,000 after acquiring an additional 225,105 shares during the period. Bamco Inc. NY increased its position in shares of Glaukos by 104.6% during the 3rd quarter. Bamco Inc. NY now owns 2,194,059 shares of the medical instruments supplier’s stock valued at $72,404,000 after purchasing an additional 1,121,813 shares during the last quarter. BlackRock Inc. increased its position in shares of Glaukos by 6.5% during the 4th quarter. BlackRock Inc. now owns 1,957,114 shares of the medical instruments supplier’s stock valued at $50,200,000 after purchasing an additional 119,811 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Glaukos by 3.4% during the 2nd quarter. Vanguard Group Inc. now owns 1,668,345 shares of the medical instruments supplier’s stock valued at $69,187,000 after purchasing an additional 55,507 shares during the last quarter. Finally, Peregrine Capital Management LLC increased its position in shares of Glaukos by 32.6% during the 4th quarter. Peregrine Capital Management LLC now owns 622,144 shares of the medical instruments supplier’s stock valued at $15,958,000 after purchasing an additional 152,990 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.

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