Glaukos Corporation (NYSE:GKOS) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of Glaukos Corporation (NYSE:GKOS) from a hold rating to a buy rating in a research report sent to investors on Friday morning. The brokerage currently has $45.00 target price on the medical instruments supplier’s stock.

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 brokerages have also recently commented on GKOS. Stephens raised shares of Glaukos Corporation from an equal weight rating to an overweight rating in a research report on Monday, May 8th. BidaskClub cut shares of Glaukos Corporation from a buy rating to a hold rating in a research report on Wednesday, July 12th. BMO Capital Markets reissued a buy rating and set a $54.00 price target on shares of Glaukos Corporation in a research report on Tuesday, April 11th. Cantor Fitzgerald reissued an overweight rating and set a $54.00 price target on shares of Glaukos Corporation in a research report on Thursday, May 4th. Finally, TheStreet cut shares of Glaukos Corporation from a c rating to a d+ rating in a research report on Wednesday, May 3rd. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Glaukos Corporation currently has a consensus rating of Buy and a consensus target price of $48.50.

Glaukos Corporation (NYSE GKOS) traded up 0.85% during trading on Friday, reaching $40.12. 531,542 shares of the company’s stock traded hands. The firm has a market cap of $1.38 billion, a PE ratio of 364.73 and a beta of 1.33. Glaukos Corporation has a 12 month low of $28.26 and a 12 month high of $52.49. The firm has a 50 day moving average price of $40.47 and a 200-day moving average price of $42.42.

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Several large investors have recently modified their holdings of the stock. American Century Companies Inc. boosted its stake in shares of Glaukos Corporation by 2.6% in the first quarter. American Century Companies Inc. now owns 135,082 shares of the medical instruments supplier’s stock worth $6,930,000 after buying an additional 3,458 shares during the last quarter. Great West Life Assurance Co. Can purchased a new stake in shares of Glaukos Corporation during the first quarter worth about $102,000. Tocqueville Asset Management L.P. purchased a new stake in shares of Glaukos Corporation during the first quarter worth about $487,000. Wells Fargo & Company MN boosted its stake in shares of Glaukos Corporation by 73.2% in the first quarter. Wells Fargo & Company MN now owns 1,156,562 shares of the medical instruments supplier’s stock worth $59,332,000 after buying an additional 488,730 shares during the last quarter. Finally, DUPONT CAPITAL MANAGEMENT Corp purchased a new stake in shares of Glaukos Corporation during the first quarter worth about $776,000. 88.92% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for Glaukos Corporation (NYSE:GKOS)

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