Legal & General Group Plc increased its stake in Spectranetics Corp (NASDAQ:SPNC) by 17.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,099 shares of the medical equipment provider’s stock after buying an additional 2,258 shares during the quarter. Legal & General Group Plc’s holdings in Spectranetics Corp were worth $580,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Ameritas Investment Partners Inc. bought a new stake in Spectranetics Corp in the first quarter worth $108,000. Point72 Asset Management L.P. lifted its position in Spectranetics Corp by 726.0% in the first quarter. Point72 Asset Management L.P. now owns 205,667 shares of the medical equipment provider’s stock worth $5,990,000 after buying an additional 180,767 shares during the last quarter. UBS Asset Management Americas Inc. lifted its position in Spectranetics Corp by 97.2% in the first quarter. UBS Asset Management Americas Inc. now owns 16,367 shares of the medical equipment provider’s stock worth $477,000 after buying an additional 8,068 shares during the last quarter. Longfellow Investment Management Co. LLC bought a new stake in Spectranetics Corp in the second quarter worth $1,771,000. Finally, First Trust Advisors LP lifted its position in 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 worth $2,433,000 after buying an additional 3,553 shares during the last quarter. Institutional investors own 91.95% of the company’s stock.

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A number of brokerages recently issued reports on SPNC. Stifel Nicolaus downgraded Spectranetics Corp from a “buy” rating to a “hold” rating and raised their price target for the stock from $34.00 to $38.50 in a research report on Wednesday, August 9th. Needham & Company LLC downgraded Spectranetics Corp from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. BidaskClub downgraded Spectranetics Corp from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 10th. Canaccord Genuity downgraded Spectranetics Corp from a “buy” rating to a “hold” rating and raised their price target for the stock from $37.00 to $38.50 in a research report on Monday, July 10th. Finally, Guggenheim downgraded Spectranetics Corp from a “buy” rating to a “neutral” rating in a research report on Friday, August 4th. Ten research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $35.36.

Shares of Spectranetics Corp (NASDAQ SPNC) opened at 38.45 on Friday. Spectranetics Corp has a 52-week low of $19.80 and a 52-week high of $38.55. The stock’s 50 day moving average price is $37.28 and its 200 day moving average price is $30.10.

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

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.

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

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