The Spectranetics Corp. (NASDAQ:SPNC) was down 3% during mid-day trading on Friday . The company traded as low as $23.18 and last traded at $23.43, with a volume of 638,745 shares changing hands. The stock had previously closed at $24.16.

A number of equities research analysts recently issued reports on SPNC shares. Craig Hallum downgraded shares of The Spectranetics Corp. from a “buy” rating to a “hold” rating and set a $17.00 target price for the company. in a report on Tuesday, April 26th. Canaccord Genuity restated a “buy” rating on shares of The Spectranetics Corp. in a report on Wednesday, June 8th. Royal Bank Of Canada boosted their target price on shares of The Spectranetics Corp. from $17.00 to $24.00 and gave the company a “sector perform” rating in a report on Monday. Needham & Company LLC boosted their target price on shares of The Spectranetics Corp. from $21.00 to $27.00 and gave the company a “strong-buy” rating in a report on Friday, July 29th. Finally, Guggenheim started coverage on shares of The Spectranetics Corp. in a report on Wednesday, June 8th. They issued a “buy” rating and a $23.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $23.25.

The stock’s market cap is $1.01 billion. The company has a 50-day moving average price of $20.44 and a 200-day moving average price of $16.82.

The Spectranetics Corp. (NASDAQ:SPNC) last posted its quarterly earnings data on Thursday, July 28th. The company reported ($0.26) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.02. During the same period in the prior year, the company posted ($0.22) earnings per share. The firm had revenue of $67.70 million for the quarter, compared to analysts’ expectations of $65.18 million. The Spectranetics Corp.’s quarterly revenue was up 9.5% compared to the same quarter last year. Equities analysts anticipate that The Spectranetics Corp. will post ($1.11) EPS for the current year.

An institutional investor recently raised its position in The Spectranetics Corp. stock. California State Teachers Retirement System raised its position in shares of The Spectranetics Corp. (NASDAQ:SPNC) by 1.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 78,596 shares of the company’s stock after buying an additional 1,478 shares during the period. California State Teachers Retirement System owned approximately 0.18% of The Spectranetics Corp. worth $1,184,000 at the end of the most recent 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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