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Why Glaukos Stock Is Tanking Today

TheMotleyFool

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Shares of Glaukos (NYSE: GKOS) were tanking on Wednesday, with the stock down 20.5% as of 10:38 a.m. EDT. The decline came after the Centers for Medicare and Medicaid Services (CMS) released its proposed physician fee schedule for fiscal year 2022.

The proposed fee schedule wasn't favorable to Glaukos. In a press release, Glaukos CEO Thomas Burns said that the ophthalmic medical technology and pharmaceutical company was "extremely disappointed" with CMS' proposed fees. This news also prompted investment firm William Blair to downgrade the healthcare stock to market perform from market outperform.

Image source: Getty Images.

Source Fool.com

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