The Spectranetics Corp. (SPNC) Reaches New 12-Month High at $24.50
The Spectranetics Corp. (NASDAQ:SPNC) reached a new 52-week high on Wednesday . The stock traded as high as $24.50 and last traded at $24.06, with a volume of 432,391 shares trading hands. The stock had previously closed at $23.09.
Several equities research analysts recently weighed in on the company. TheStreet upgraded The Spectranetics Corp. from a “sell” rating to a “hold” rating in a research report on Monday. RBC Capital Markets restated a “sector perform” rating and set a $24.00 price target (up from $17.00) on shares of The Spectranetics Corp. in a research report on Monday. Royal Bank Of Canada lifted their price target on The Spectranetics Corp. from $17.00 to $24.00 and gave the company a “sector perform” rating in a research report on Monday. Canaccord Genuity restated a “buy” rating and set a $30.00 price target on shares of The Spectranetics Corp. in a research report on Friday, July 29th. Finally, Needham & Company LLC lifted their price target on The Spectranetics Corp. from $21.00 to $27.00 and gave the company a “strong-buy” rating in a research report on Friday, July 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $23.25.
The company’s market cap is $1.04 billion. The company has a 50 day moving average of $20.30 and a 200-day moving average of $16.78.
The Spectranetics Corp. (NASDAQ:SPNC) last posted its quarterly earnings data on Thursday, July 28th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.02. The company earned $67.70 million during the quarter, compared to the consensus estimate of $65.18 million. The Spectranetics Corp.’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.22) earnings per share. On average, analysts anticipate that The Spectranetics Corp. will post ($1.11) EPS for the current fiscal year.
A hedge fund recently raised its stake in The Spectranetics Corp. stock. Morgan Stanley raised its stake in The Spectranetics Corp. (NASDAQ:SPNC) by 343.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 74,094 shares of the company’s stock after buying an additional 57,376 shares during the period. Morgan Stanley owned approximately 0.17% of The Spectranetics Corp. worth $1,116,000 at the end of the most recent reporting 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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