The Spectranetics Corp. (SPNC) Stock Price Up 5.6%
Shares of The Spectranetics Corp. (NASDAQ:SPNC) rose 5.6% during trading on Wednesday . The company traded as high as $21.57 and last traded at $21.57, with a volume of 234,174 shares traded. The stock had previously closed at $20.43.
SPNC has been the subject of a number of research reports. Craig Hallum lowered The Spectranetics Corp. from a “buy” rating to a “hold” rating and set a $17.00 price objective for the company. in a research report on Tuesday, April 26th. Canaccord Genuity restated a “buy” rating on shares of The Spectranetics Corp. in a research report on Wednesday, June 8th. Needham & Company LLC restated a “buy” rating on shares of The Spectranetics Corp. in a research report on Thursday, June 2nd. Guggenheim began coverage on The Spectranetics Corp. in a research report on Wednesday, June 8th. They set a “buy” rating and a $23.00 target price for the company. Finally, Zacks Investment Research lowered The Spectranetics Corp. from a “hold” rating to a “sell” rating in a research report on Saturday, April 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company. The Spectranetics Corp. has a consensus rating of “Buy” and an average target price of $21.46.
The firm’s market capitalization is $919.17 million. The stock’s 50-day moving average is $19.20 and its 200 day moving average is $16.16.
The Spectranetics Corp. (NASDAQ:SPNC) last posted its quarterly earnings results on Thursday, April 28th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.29) by $0.03. During the same quarter last year, the firm posted ($0.30) earnings per share. The business had revenue of $62.90 million for the quarter, compared to the consensus estimate of $60.41 million. The business’s revenue was up 9.6% compared to the same quarter last year. Equities research analysts anticipate that The Spectranetics Corp. will post ($1.11) earnings per share for the current fiscal year.
Other hedge funds and institutional investors have recently modified their holdings of the company. Tamarack Advisers LP purchased a new position in shares of The Spectranetics Corp. during the fourth quarter worth $20,331,000. OppenheimerFunds Inc. increased its position in shares of The Spectranetics Corp. by 2.8% in the fourth quarter. OppenheimerFunds Inc. now owns 835,488 shares of the company’s stock worth $12,582,000 after buying an additional 22,980 shares during the period. California State Teachers Retirement System increased its position in shares of 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 worth $1,184,000 after buying an additional 1,478 shares during the period. Finally, Morgan Stanley increased its position in shares of The Spectranetics Corp. by 343.2% in the fourth quarter. Morgan Stanley now owns 74,094 shares of the company’s stock worth $1,116,000 after buying an additional 57,376 shares during the period.
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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