Cantor Fitzgerald reissued their buy rating on shares of Glaukos Corporation (NYSE:GKOS) in a research note issued to investors on Thursday morning. They currently have a $60.00 price objective on the medical instruments supplier’s stock, up from their prior price objective of $54.00.

“Numbers out of the Way. Yes, 2Q17 revenue growth was impacted several factors: implementation of updated rates and commercial private payers (20% of the market) and sampling by a competitor. Yes, unfortunately these headwinds will remain in place for the rest of the year, coupled with the impact of the hurricanes (TX and FL represents 7% of overall sales). Accordingly, we have lowered our 2017 revenue estimate from $167 million to $158 million. If nothing else happened today, we would perhaps understand the outsized negative reaction (stock is down ~20% intraday).”,” the firm’s analyst wrote.

Several other equities analysts have also recently commented on GKOS. BidaskClub upgraded Glaukos Corporation from a hold rating to a buy rating in a research note on Saturday, June 24th. Zacks Investment Research upgraded Glaukos Corporation from a hold rating to a strong-buy rating and set a $48.00 target price for the company in a research note on Tuesday, July 4th. Roth Capital reduced their price objective on Glaukos Corporation from $60.00 to $54.00 and set a buy rating on the stock in a research note on Thursday, August 3rd. Finally, Piper Jaffray Companies restated a buy rating and set a $56.00 price objective on shares of Glaukos Corporation in a research note on Thursday, August 3rd. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Glaukos Corporation currently has a consensus rating of Buy and an average target price of $49.86.

Glaukos Corporation (NYSE GKOS) opened at 31.40 on Thursday. The firm’s market capitalization is $1.08 billion. Glaukos Corporation has a one year low of $28.72 and a one year high of $52.49. The stock has a 50 day moving average of $37.87 and a 200-day moving average of $41.45.

WARNING: “Glaukos Corporation (GKOS) Rating Reiterated by Cantor Fitzgerald” was published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this piece on another website, it was illegally stolen and reposted in violation of United States and international copyright laws. The original version of this piece can be accessed at https://www.thecerbatgem.com/2017/09/18/glaukos-corporation-gkos-rating-reiterated-by-cantor-fitzgerald.html.

In related news, Director Orbimed Advisors Llc sold 325,000 shares of the firm’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $37.93, for a total transaction of $12,327,250.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Thomas William Burns sold 1,212 shares of the firm’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $41.25, for a total value of $49,995.00. The disclosure for this sale can be found here. Insiders have sold 980,200 shares of company stock worth $37,900,263 over the last 90 days. 16.40% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in GKOS. Teachers Advisors LLC lifted its stake in Glaukos Corporation by 5.7% during the fourth quarter. Teachers Advisors LLC now owns 27,789 shares of the medical instruments supplier’s stock worth $953,000 after purchasing an additional 1,506 shares during the last quarter. Nationwide Fund Advisors lifted its stake in Glaukos Corporation by 749.3% in the first quarter. Nationwide Fund Advisors now owns 89,101 shares of the medical instruments supplier’s stock valued at $4,571,000 after buying an additional 78,610 shares during the last quarter. Great West Life Assurance Co. Can bought a new stake in Glaukos Corporation in the first quarter valued at $102,000. American Century Companies Inc. lifted its stake in 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 valued at $6,930,000 after buying an additional 3,458 shares during the last quarter. Finally, Comerica Bank bought a new stake in Glaukos Corporation in the first quarter valued at $1,562,000.

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)

Receive News & Stock Ratings for Glaukos Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Glaukos Corporation and related stocks with our FREE daily email newsletter.