Glaukos Corporation (NYSE:GKOS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

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. “

GKOS has been the subject of several other research reports. BidaskClub cut Glaukos Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, August 26th. Roth Capital decreased their target price on Glaukos Corporation from $60.00 to $54.00 and set a “buy” rating for the company in a research note on Thursday, August 3rd. Stifel Nicolaus restated a “buy” rating on shares of Glaukos Corporation in a research note on Thursday, September 14th. BMO Capital Markets restated a “buy” rating and set a $54.00 target price on shares of Glaukos Corporation in a research note on Friday, September 1st. Finally, Piper Jaffray Companies restated a “buy” rating and set a $38.00 target price on shares of Glaukos Corporation in a research note on Friday, September 15th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $49.86.

Glaukos Corporation (NYSE:GKOS) opened at 32.20 on Wednesday. The stock’s market capitalization is $1.11 billion. The company has a 50 day moving average of $36.29 and a 200 day moving average of $36.29. Glaukos Corporation has a 12 month low of $28.72 and a 12 month high of $52.49.

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In other Glaukos Corporation news, CEO Thomas William Burns sold 73,788 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $41.36, for a total value of $3,051,871.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Orbimed Advisors Llc sold 580,200 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $38.73, for a total value of $22,471,146.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 980,200 shares of company stock valued at $37,900,263. 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 business. Navellier & Associates Inc lifted its stake in Glaukos Corporation by 4.9% in the second quarter. Navellier & Associates Inc now owns 33,307 shares of the medical instruments supplier’s stock valued at $1,381,000 after buying an additional 1,567 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in Glaukos Corporation by 14.5% in the second quarter. Public Employees Retirement System of Ohio now owns 118,100 shares of the medical instruments supplier’s stock valued at $4,898,000 after buying an additional 15,000 shares during the last quarter. Koch Industries Inc. purchased a new stake in Glaukos Corporation in the second quarter valued at approximately $683,000. Ameritas Investment Partners Inc. lifted its stake in Glaukos Corporation 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. Finally, California State Teachers Retirement System lifted its stake in Glaukos Corporation by 54.0% in the second quarter. California State Teachers Retirement System now owns 50,752 shares of the medical instruments supplier’s stock valued at $2,105,000 after buying an additional 17,800 shares during the last quarter.

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.

Analyst Recommendations for Glaukos Corporation (NYSE:GKOS)

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