The Spectranetics Corp. (NASDAQ:SPNC)’s share price traded up 3% during mid-day trading on Wednesday . The stock traded as high as $20.22 and last traded at $19.83, with a volume of 281,341 shares traded. The stock had previously closed at $19.25.

A number of equities research analysts recently weighed in on SPNC shares. Stifel Nicolaus restated a “buy” rating on shares of The Spectranetics Corp. in a report on Monday, June 20th. Needham & Company LLC restated a “buy” rating on shares of The Spectranetics Corp. in a report 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 report on Wednesday, June 1st. Zacks Investment Research cut The Spectranetics Corp. from a “hold” rating to a “sell” rating in a report on Saturday, April 30th. Finally, Guggenheim started coverage on The Spectranetics Corp. in a report on Wednesday, June 8th. They issued a “buy” rating and a $23.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $21.46.

The firm’s market cap is $854.16 million. The firm has a 50-day moving average price of $18.59 and a 200 day moving average price of $15.86.

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

A number of hedge funds and institutional investors have bought and sold shares of the company. 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 during the period. OppenheimerFunds Inc. boosted its position in The Spectranetics Corp. by 2.8% in the fourth quarter. OppenheimerFunds Inc. now owns 835,488 shares of the company’s stock valued at $12,582,000 after buying an additional 22,980 shares during the last quarter. Wellington Shields & Co. LLC boosted 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 during the last quarter. Morgan Stanley boosted 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 during the last quarter. Finally, Kornitzer Capital Management Inc. KS purchased a new position in The Spectranetics Corp. during the fourth quarter valued at $7,641,000.

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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