Glaukos Corporation (GKOS) Receives $50.60 Average Target Price from Analysts
Glaukos Corporation (NYSE:GKOS) has earned an average recommendation of “Buy” from the ten ratings firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $50.60.
GKOS has been the subject of a number of recent analyst reports. BidaskClub raised Glaukos Corporation from a “hold” rating to a “buy” rating in a report on Saturday, June 24th. Zacks Investment Research raised Glaukos Corporation from a “hold” rating to a “buy” rating and set a $46.00 price target for the company in a report on Friday, July 21st. Piper Jaffray Companies reaffirmed a “buy” rating and set a $56.00 price target on shares of Glaukos Corporation in a report on Thursday, August 3rd. Roth Capital dropped their price target 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, BMO Capital Markets reaffirmed a “buy” rating and set a $54.00 price target on shares of Glaukos Corporation in a report on Friday, September 1st.
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In other news, Director Orbimed Advisors Llc sold 325,000 shares of Glaukos Corporation 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas William Burns sold 73,788 shares of Glaukos Corporation stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $41.36, for a total value of $3,051,871.68. The disclosure for this sale can be found here. Insiders sold a total of 980,200 shares of company stock valued at $37,900,263 over the last three months. Insiders own 16.40% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in GKOS. Janus Henderson Group PLC acquired a new stake in shares of Glaukos Corporation in the 2nd quarter valued at $129,356,000. Janus Capital Management LLC increased its stake in shares of Glaukos Corporation by 88.5% in the 1st quarter. Janus Capital Management LLC now owns 1,765,069 shares of the medical instruments supplier’s stock valued at $90,545,000 after buying an additional 828,567 shares during the period. Koch Industries Inc. acquired a new stake in shares of Glaukos Corporation in the 2nd quarter valued at $683,000. Bamco Inc. NY increased its stake in shares of Glaukos Corporation by 75.7% in the 2nd quarter. Bamco Inc. NY now owns 1,072,246 shares of the medical instruments supplier’s stock valued at $44,466,000 after buying an additional 462,019 shares during the period. Finally, Capital World Investors increased its stake in shares of Glaukos Corporation by 17.1% in the 2nd quarter. Capital World Investors now owns 2,740,000 shares of the medical instruments supplier’s stock valued at $113,628,000 after buying an additional 400,000 shares during the period.
Glaukos Corporation Company Profile
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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