Longfellow Investment Management Co. LLC purchased a new position in shares of The Spectranetics Corporation (NASDAQ:SPNC) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 44,376 shares of the medical equipment provider’s stock, valued at approximately $1,771,000. Longfellow Investment Management Co. LLC owned approximately 0.10% of The Spectranetics Corporation at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Wellington Shields Capital Management LLC bought a new position in shares of The Spectranetics Corporation during the first quarter worth about $2,330,000. Janney Montgomery Scott LLC bought a new position in shares of The Spectranetics Corporation during the first quarter worth about $213,000. Clear Harbor Asset Management LLC increased its position in shares of The Spectranetics Corporation by 1.1% in the first quarter. Clear Harbor Asset Management LLC now owns 28,110 shares of the medical equipment provider’s stock worth $819,000 after buying an additional 300 shares during the last quarter. Nationwide Fund Advisors increased its position in shares of The Spectranetics Corporation by 129.0% in the first quarter. Nationwide Fund Advisors now owns 61,683 shares of the medical equipment provider’s stock worth $1,797,000 after buying an additional 34,753 shares during the last quarter. Finally, Bollard Group LLC bought a new position in shares of The Spectranetics Corporation during the first quarter worth about $146,000. Institutional investors own 90.88% of the company’s stock.
The Spectranetics Corporation (NASDAQ SPNC) remained flat at $38.50 during trading on Friday. 1,085,332 shares of the stock were exchanged. The stock’s 50 day moving average is $35.73 and its 200 day moving average is $29.59. The Spectranetics Corporation has a 52 week low of $19.80 and a 52 week high of $38.55. The company’s market capitalization is $1.67 billion.
The Spectranetics Corporation (NASDAQ:SPNC) last issued its earnings results on Thursday, August 3rd. The medical equipment provider reported ($0.56) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.27) by $0.29. The firm had revenue of $74.71 million during the quarter, compared to analysts’ expectations of $73.82 million. The Spectranetics Corporation had a negative net margin of 21.38% and a negative return on equity of 63.11%. The Spectranetics Corporation’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.35) EPS. On average, equities analysts forecast that The Spectranetics Corporation will post ($1.14) EPS for the current fiscal year.
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A number of brokerages have issued reports on SPNC. Royal Bank Of Canada reissued a “hold” rating and set a $27.00 price objective on shares of The Spectranetics Corporation in a research report on Monday, July 24th. Raymond James Financial, Inc. reaffirmed a “market perform” rating and issued a $28.00 target price on shares of The Spectranetics Corporation in a research report on Tuesday, July 25th. Stifel Nicolaus downgraded shares of The Spectranetics Corporation from a “buy” rating to a “hold” rating in a research report on Thursday. Guggenheim downgraded shares of The Spectranetics Corporation from a “buy” rating to a “neutral” rating in a research report on Friday. Finally, Needham & Company LLC downgraded shares of The Spectranetics Corporation from a “buy” rating to a “hold” rating in a research report on Friday. Eleven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The Spectranetics Corporation currently has an average rating of “Hold” and a consensus price target of $34.14.
The Spectranetics Corporation Company Profile
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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