The Spectranetics Corp. (NASDAQ:SPNC) shares reached a new 52-week high during 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.

SPNC has been the topic of a number of recent research reports. Canaccord Genuity restated a “buy” rating on shares of The Spectranetics Corp. in a research note on Tuesday, July 12th. Stifel Nicolaus restated a “buy” rating on shares of The Spectranetics Corp. in a research note on Monday, June 20th. Guggenheim initiated coverage on shares of The Spectranetics Corp. in a research note on Wednesday, June 8th. They issued a “buy” rating and a $23.00 price objective on the stock. Needham & Company LLC restated a “buy” rating and issued a $21.00 price objective on shares of The Spectranetics Corp. in a research note on Thursday, March 31st. Finally, Zacks Investment Research lowered shares of The Spectranetics Corp. from a “hold” rating to a “sell” rating in a research note on Saturday, April 30th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $21.67.

The company’s market cap is $938.85 million. The company has a 50 day moving average price of $19.58 and a 200-day moving average price of $16.39.

The Spectranetics Corp. (NASDAQ:SPNC) last released its earnings results on Thursday, April 28th. The company reported ($0.32) 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 company’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.30) earnings per share. On average, analysts forecast that The Spectranetics Corp. will post ($1.11) EPS for the current year.

Other institutional investors recently added to or reduced their stakes in 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 during the last quarter. OppenheimerFunds Inc. raised 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 period. Finally, 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.

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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