The Spectranetics Corp. (NASDAQ:SPNC)’s share price was down 2.7% during mid-day trading on Friday . The stock traded as low as $24.58 and last traded at $24.58, with a volume of 189,359 shares trading hands. The stock had previously closed at $25.26.

Several equities analysts recently weighed in on SPNC shares. Craig Hallum lowered The Spectranetics Corp. from a “buy” rating to a “hold” rating and set a $17.00 price target for the company. in a research note on Tuesday, April 26th. Zacks Investment Research lowered The Spectranetics Corp. from a “hold” rating to a “sell” rating in a research note on Saturday, April 30th. Needham & Company LLC restated a “buy” rating on shares of The Spectranetics Corp. in a research note on Saturday, April 30th. Canaccord Genuity restated a “buy” rating and issued a $23.50 price target on shares of The Spectranetics Corp. in a research note on Wednesday, June 1st. Finally, Guggenheim started coverage on The Spectranetics Corp. in a research note on Wednesday, June 8th. They issued a “buy” rating and a $23.00 price target for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the stock. The Spectranetics Corp. currently has a consensus rating of “Buy” and an average price target of $23.67.

The company has a 50 day moving average of $22.14 and a 200-day moving average of $17.55. The stock’s market capitalization is $1.07 billion.

The Spectranetics Corp. (NASDAQ:SPNC) last announced its earnings results on Thursday, July 28th. The company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.02. The business had revenue of $67.70 million for the quarter, compared to analyst estimates of $65.18 million. The Spectranetics Corp.’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the company posted ($0.22) EPS. Equities research analysts anticipate that The Spectranetics Corp. will post ($1.11) earnings per share for the current year.

In other news, Director Joseph M. Ruggio sold 5,000 shares of the stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $25.00, for a total transaction of $125,000.00. Following the completion of the sale, the director now owns 83,186 shares in the company, valued at $2,079,650. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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 Form 13F 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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