C WorldWide Group Holding A S increased its stake in Spectranetics Corp (NASDAQ:SPNC) by 10.5% during the second quarter, Holdings Channel reports. The fund owned 73,180 shares of the medical equipment provider’s stock after buying an additional 6,974 shares during the period. C WorldWide Group Holding A S’s holdings in Spectranetics Corp were worth $2,810,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. First Trust Advisors LP increased its stake in shares of Spectranetics Corp by 5.9% in the second quarter. First Trust Advisors LP now owns 63,357 shares of the medical equipment provider’s stock valued at $2,433,000 after buying an additional 3,553 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of Spectranetics Corp by 0.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 172,981 shares of the medical equipment provider’s stock valued at $6,643,000 after buying an additional 1,538 shares during the last quarter. Trexquant Investment LP bought a new stake in shares of Spectranetics Corp during the second quarter valued at $407,000. ARP Americas LLC bought a new stake in shares of Spectranetics Corp during the second quarter valued at $15,266,000. Finally, Kassirer Asset Management Corp bought a new stake in shares of Spectranetics Corp during the second quarter valued at $1,014,000. 91.95% of the stock is owned by institutional investors.

Spectranetics Corp (SPNC) opened at 38.45 on Friday. The company has a 50 day moving average price of $37.28 and a 200 day moving average price of $30.10. Spectranetics Corp has a 1-year low of $19.80 and a 1-year high of $38.55. The firm’s market cap is $1.68 billion.

Spectranetics Corp (NASDAQ:SPNC) last issued its quarterly earnings results on Thursday, August 3rd. The medical equipment provider reported ($0.56) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.27) by $0.29. The business had revenue of $74.71 million during the quarter, compared to analyst estimates of $73.82 million. Spectranetics Corp had a negative net margin of 32.93% and a negative return on equity of 194.18%. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.35) earnings per share. On average, equities research analysts forecast that Spectranetics Corp will post ($1.16) earnings per share for the current year.

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Several brokerages have recently weighed in on SPNC. Stifel Nicolaus downgraded Spectranetics Corp from a “buy” rating to a “hold” rating and upped their target price for the stock from $34.00 to $38.50 in a research report on Wednesday. Guggenheim downgraded Spectranetics Corp from a “buy” rating to a “neutral” rating in a research report on Friday, August 4th. Needham & Company LLC downgraded Spectranetics Corp from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Raymond James Financial, Inc. downgraded Spectranetics Corp from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 26th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $27.00 target price on shares of Spectranetics Corp in a research report on Monday, July 24th. Eleven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Spectranetics Corp presently has a consensus rating of “Hold” and a consensus target price of $34.69.

About Spectranetics Corp

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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Institutional Ownership by Quarter for Spectranetics Corp (NASDAQ:SPNC)

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