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

Glaukos Corporation (NYSE:GKOS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors 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. “

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

Shares of Glaukos Corporation (GKOS) traded down 0.37% during midday trading on Monday, reaching $37.45. 333,844 shares of the company’s stock were exchanged. 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. The company’s 50 day moving average is $39.65 and its 200-day moving average is $43.18.

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In other news, Director Orbimed Advisors Llc sold 325,000 shares of the business’s stock in a transaction dated Thursday, August 17th. The stock was 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 SEC, which is available through the SEC website. Insiders own 16.40% of the company’s stock.

A number of hedge funds have recently made changes to their positions in GKOS. State Street Corp boosted its stake in shares of Glaukos Corporation by 6.9% in the fourth quarter. State Street Corp now owns 281,407 shares of the medical instruments supplier’s stock valued at $9,653,000 after buying an additional 18,183 shares during the last quarter. AQR Capital Management LLC bought a new stake in shares of Glaukos Corporation during the fourth quarter valued at approximately $513,000. Engineers Gate Manager LP bought a new stake in shares of Glaukos Corporation during the first quarter valued at approximately $372,000. William Blair Investment Management LLC boosted its stake in shares of Glaukos Corporation by 5.3% in the first quarter. William Blair Investment Management LLC now owns 2,064,444 shares of the medical instruments supplier’s stock valued at $105,906,000 after buying an additional 104,670 shares during the last quarter. Finally, Teachers Advisors LLC boosted its stake in shares of Glaukos Corporation by 5.7% in the fourth quarter. Teachers Advisors LLC now owns 27,789 shares of the medical instruments supplier’s stock valued at $953,000 after buying an additional 1,506 shares during the last quarter. Institutional investors and hedge funds own 90.12% of the company’s stock.

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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