Zacks Investment Research Downgrades Glaukos (GKOS) to Sell
Glaukos (NYSE:GKOS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to 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 research analysts have also commented on GKOS. BMO Capital Markets reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Glaukos in a research note on Wednesday, October 18th. Cantor Fitzgerald reissued a “buy” rating and set a $60.00 target price on shares of Glaukos in a research note on Tuesday, November 7th. Stephens reissued an “overweight” rating and set a $40.00 target price (down from $47.00) on shares of Glaukos in a research note on Monday, November 13th. Finally, ValuEngine lowered shares of Glaukos from a “hold” rating to a “sell” rating in a research note on Monday, February 5th. Two equities research 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’s stock. The company presently has a consensus rating of “Hold” and an average target price of $44.86.
In related news, CFO Joseph E. Gilliam bought 2,100 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were acquired at an average cost of $23.84 per share, with a total value of $50,064.00. Following the completion of the purchase, the chief financial officer now directly owns 102,100 shares in the company, valued at $2,434,064. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 16.40% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of GKOS. Ameritas Investment Partners Inc. boosted its stake in Glaukos by 93.1% during the second quarter. Ameritas Investment Partners Inc. now owns 2,514 shares of the medical instruments supplier’s stock worth $104,000 after acquiring an additional 1,212 shares in the last quarter. Valeo Financial Advisors LLC bought a new position in shares of Glaukos in the third quarter valued at $111,000. Quantbot Technologies LP lifted its stake in shares of Glaukos by 291.3% in the third quarter. Quantbot Technologies LP now owns 7,653 shares of the medical instruments supplier’s stock valued at $252,000 after buying an additional 5,697 shares in the last quarter. UBS Asset Management Americas Inc. bought a new position in shares of Glaukos in the second quarter valued at $274,000. Finally, First Republic Investment Management Inc. lifted its stake in shares of Glaukos by 47.1% in the third quarter. First Republic Investment Management Inc. now owns 8,300 shares of the medical instruments supplier’s stock valued at $274,000 after buying an additional 2,659 shares in the last quarter.
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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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