Shares of The Spectranetics Corp. (NASDAQ:SPNC) shot up 3% on Wednesday . The company traded as high as $20.22 and last traded at $19.83, with a volume of 281,341 shares trading hands. The stock had previously closed at $19.25.

A number of research firms recently weighed in on SPNC. Needham & Company LLC reissued a “buy” rating on shares of The Spectranetics Corp. in a research note on Saturday, April 30th. Canaccord Genuity restated a “buy” rating and issued a $23.50 price target on shares of The Spectranetics Corp. in a research report on Wednesday, June 1st. Zacks Investment Research lowered shares of The Spectranetics Corp. from a “hold” rating to a “sell” rating in a research report on Saturday, April 30th. Craig Hallum lowered shares of The Spectranetics Corp. from a “buy” rating to a “hold” rating and set a $17.00 price target on the stock. in a research report on Tuesday, April 26th. Finally, Stifel Nicolaus restated a “buy” rating on shares of The Spectranetics Corp. in a research report on Monday, June 20th. One analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the stock. The Spectranetics Corp. currently has an average rating of “Buy” and a consensus price target of $21.46.

The firm’s 50-day moving average is $18.42 and its 200 day moving average is $15.80. The firm’s market cap is $845.17 million.

The Spectranetics Corp. (NASDAQ:SPNC) last released its quarterly earnings results on Thursday, April 28th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by $0.03. The company had revenue of $62.90 million for the quarter, compared to analyst estimates of $60.41 million. During the same quarter last year, the company posted ($0.30) earnings per share. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. Equities research analysts predict that The Spectranetics Corp. will post ($1.11) EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the stock. Morgan Stanley raised its position in The Spectranetics Corp. by 343.2% in the fourth quarter. Morgan Stanley now owns 74,094 shares of the company’s stock valued at $1,116,000 after buying an additional 57,376 shares in the last quarter. California State Teachers Retirement System raised its position in The Spectranetics Corp. by 1.9% in the fourth quarter. California State Teachers Retirement System now owns 78,596 shares of the company’s stock valued at $1,184,000 after buying an additional 1,478 shares in the last quarter. Penn Capital Management Co. Inc. raised its position in The Spectranetics Corp. by 0.4% in the fourth quarter. Penn Capital Management Co. Inc. now owns 252,421 shares of the company’s stock valued at $3,801,000 after buying an additional 956 shares in the last quarter. Kornitzer Capital Management Inc. KS purchased a new position in The Spectranetics Corp. during the fourth quarter valued at approximately $7,641,000. Finally, Wellington Shields & Co. LLC raised its position in The Spectranetics Corp. by 6.4% in the fourth quarter. Wellington Shields & Co. LLC now owns 744,228 shares of the company’s stock valued at $11,208,000 after buying an additional 44,503 shares in the last quarter.

The Spectranetics Corporation develops, manufactures, markets and distributes single-use medical devices used in minimally invasive procedures within the cardiovascular system. The Company’s products are used to cross, prepare and treat arterial blockages in the heart and legs and to manage pacemaker and defibrillator cardiac leads.

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