The Spectranetics Corp. (SPNC) Shares Gap Up to $24.95
The Spectranetics Corp. (NASDAQ:SPNC) gapped up prior to trading on Monday . The stock had previously closed at $24.94, but opened at $24.95. The Spectranetics Corp. shares last traded at $25.27, with a volume of 48,573 shares.
A number of equities research analysts have recently commented on the stock. Canaccord Genuity reiterated a “buy” rating and set a $23.50 price target on shares of The Spectranetics Corp. in a report on Wednesday, June 1st. Needham & Company LLC reiterated a “buy” rating on shares of The Spectranetics Corp. in a report on Thursday, June 2nd. Guggenheim assumed coverage on shares of The Spectranetics Corp. in a report on Wednesday, June 8th. They set a “buy” rating and a $23.00 price target on the stock. Stifel Nicolaus reiterated a “buy” rating on shares of The Spectranetics Corp. in a report on Monday, June 20th. Finally, Royal Bank Of Canada increased their price target 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, August 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $23.67.
The firm has a 50-day moving average of $23.11 and a 200-day moving average of $18.27. The firm’s market cap is $1.08 billion.
The Spectranetics Corp. (NASDAQ:SPNC) last released its quarterly earnings data on Thursday, July 28th. The company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.02. The business earned $67.70 million during the quarter, compared to analysts’ expectations of $65.18 million. During the same period last year, the company earned ($0.22) earnings per share. The firm’s revenue was up 9.5% on a year-over-year basis. Analysts predict that The Spectranetics Corp. will post ($1.11) EPS for the current fiscal 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 sale, the director now directly owns 83,186 shares of the company’s stock, valued at approximately $2,079,650. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
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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