Glaukos (GKOS) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Glaukos (NYSE:GKOS) from a hold rating to a sell rating in a report issued 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 research firms also recently weighed in on GKOS. BMO Capital Markets reduced 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. Cantor Fitzgerald restated a buy rating and issued a $60.00 price target on shares of Glaukos in a research note on Tuesday, November 7th. Stephens restated an overweight rating and issued a $40.00 price target (down from $47.00) on shares of Glaukos in a research note on Monday, November 13th. Finally, ValuEngine downgraded shares of Glaukos from a hold rating to a sell rating in a research note on Monday, February 5th. Two analysts have rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. Glaukos has a consensus rating of Hold and an average price target of $44.86.

Shares of Glaukos (GKOS) opened at $31.28 on Tuesday. Glaukos has a one year low of $23.08 and a one year high of $52.49. The firm has a market cap of $1,080.00 and a P/E ratio of -1,042.67.

In other Glaukos news, CFO Joseph E. Gilliam acquired 2,100 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was acquired at an average price of $23.84 per share, for a total transaction of $50,064.00. Following the acquisition, the chief financial officer now directly owns 102,100 shares in the company, valued at $2,434,064. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 16.40% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Janus Henderson Group PLC raised its holdings in Glaukos by 7.2% in 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 buying an additional 225,105 shares during the last quarter. Bamco Inc. NY raised its holdings in Glaukos by 104.6% in 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 buying an additional 1,121,813 shares during the last quarter. BlackRock Inc. raised its holdings in Glaukos by 6.5% in the 4th quarter. BlackRock Inc. now owns 1,957,114 shares of the medical instruments supplier’s stock valued at $50,200,000 after buying an additional 119,811 shares during the last quarter. Vanguard Group Inc. raised its holdings in Glaukos by 3.4% in 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 buying an additional 55,507 shares during the last quarter. Finally, Peregrine Capital Management LLC raised its holdings in Glaukos by 32.6% in 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 buying 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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