The Spectranetics Corp. (NASDAQ:SPNC) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as $21.93 and last traded at $21.72, with a volume of 98,403 shares trading hands. The stock had previously closed at $21.78.

A number of research firms have issued reports on SPNC. Canaccord Genuity set a $26.00 target price on shares of The Spectranetics Corp. and gave the company a “buy” rating in a research report on Thursday. Guggenheim began coverage on shares of The Spectranetics Corp. in a research report on Wednesday, June 8th. They set a “buy” rating and a $23.00 target price on the stock. Needham & Company LLC restated a “buy” rating on shares of The Spectranetics Corp. in a research report on Thursday, June 2nd. Stifel Nicolaus restated a “buy” rating on shares of The Spectranetics Corp. in a research report on Monday, June 20th. Finally, Craig Hallum downgraded shares of The Spectranetics Corp. from a “buy” rating to a “hold” rating and set a $17.00 target price on the stock. in a research report on Tuesday, April 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company. The Spectranetics Corp. currently has a consensus rating of “Buy” and a consensus price target of $21.67.

The stock has a 50 day moving average price of $19.43 and a 200-day moving average price of $16.28. The firm’s market capitalization is $927.30 million.

The Spectranetics Corp. (NASDAQ:SPNC) last announced 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. During the same period in the prior year, the business earned ($0.30) EPS. The company earned $62.90 million during the quarter, compared to analyst estimates of $60.41 million. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. Equities analysts anticipate that The Spectranetics Corp. will post ($1.11) earnings per share for the current year.

Other hedge funds and institutional investors have bought and sold shares of the company. 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 in the last quarter. 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 in the last quarter. Finally, California State Teachers Retirement System boosted 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.

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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