The Spectranetics Corp. (NASDAQ:SPNC) shares fell 2.7% on Friday . The company traded as low as $24.58 and last traded at $24.58, with a volume of 189,359 shares changing hands. The stock had previously closed at $25.26.

A number of brokerages have commented on SPNC. Piper Jaffray Cos. boosted their price objective on The Spectranetics Corp. to $30.00 in a research note on Thursday. Needham & Company LLC cut The Spectranetics Corp. from a “strong-buy” rating to a “buy” rating and set a $27.00 price objective on the stock. in a research note on Tuesday, August 9th. TheStreet upgraded The Spectranetics Corp. from a “sell” rating to a “hold” rating in a research note on Monday, August 1st. RBC Capital Markets restated a “sector perform” rating and set a $24.00 price objective (up previously from $17.00) on shares of The Spectranetics Corp. in a research note on Monday, August 1st. Finally, Royal Bank Of Canada boosted their price objective on The Spectranetics Corp. from $17.00 to $24.00 and gave the stock a “sector perform” rating in a research note on Monday, August 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company’s stock. The Spectranetics Corp. presently has an average rating of “Buy” and a consensus target price of $23.67.

The stock’s market capitalization is $1.07 billion. The firm’s 50 day moving average is $22.32 and its 200 day moving average is $17.64.

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

In other news, Director Joseph M. Ruggio sold 5,000 shares of the company’s stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $25.00, for a total value of $125,000.00. Following the transaction, the director now directly owns 83,186 shares of the company’s stock, valued at $2,079,650. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

An institutional investor recently raised its position in The Spectranetics Corp. stock. Morgan Stanley increased its position in The Spectranetics Corp. (NASDAQ:SPNC) by 343.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund 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 as of its most recent SEC filing.

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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