Spectranetics Corp (NASDAQ:SPNC)‘s stock had its “hold” rating reiterated by analysts at Royal Bank Of Canada in a research report issued on Monday, July 24th. They presently have a $27.00 target price on the medical equipment provider’s stock. Royal Bank Of Canada’s price objective would suggest a potential downside of 29.78% from the stock’s current price.
Other research analysts have also issued research reports about the stock. UBS AG lowered shares of Spectranetics Corp from a “buy” rating to a “neutral” rating and upped their price objective for the company from $33.00 to $38.50 in a research note on Monday, July 10th. Northland Securities reiterated a “market perform” rating and issued a $38.50 price objective (up previously from $32.00) on shares of Spectranetics Corp in a research note on Wednesday, June 28th. Zacks Investment Research upgraded shares of Spectranetics Corp from a “sell” rating to a “hold” rating in a research note on Thursday, May 11th. Needham & Company LLC restated a “buy” rating and set a $34.00 price target (up previously from $32.00) on shares of Spectranetics Corp in a research note on Friday, April 28th. Finally, ValuEngine upgraded shares of Spectranetics Corp from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Eleven research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $34.69.
Shares of Spectranetics Corp (NASDAQ:SPNC) remained flat at $38.45 on Monday. 1,728,937 shares of the stock were exchanged. Spectranetics Corp has a 52 week low of $19.80 and a 52 week high of $38.55. The firm’s market cap is $1.68 billion. The stock has a 50-day moving average price of $37.28 and a 200-day moving average price of $30.10.
Spectranetics Corp (NASDAQ:SPNC) last released its earnings results on Thursday, August 3rd. The medical equipment provider reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.27) by $0.29. Spectranetics Corp had a negative net margin of 32.93% and a negative return on equity of 194.18%. The business had revenue of $74.71 million for the quarter, compared to analyst estimates of $73.82 million. During the same period in the prior year, the company earned ($0.35) earnings per share. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. On average, analysts forecast that Spectranetics Corp will post ($1.16) EPS for the current fiscal year.
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A number of hedge funds have recently modified their holdings of SPNC. FMR LLC increased its position in Spectranetics Corp by 4.6% in the first quarter. FMR LLC now owns 5,622,416 shares of the medical equipment provider’s stock worth $163,753,000 after buying an additional 245,654 shares during the last quarter. Vanguard Group Inc. increased its position in Spectranetics Corp by 3.4% in the second quarter. Vanguard Group Inc. now owns 1,906,462 shares of the medical equipment provider’s stock worth $73,208,000 after buying an additional 63,451 shares during the last quarter. Alpine Associates Management Inc. acquired a new position in Spectranetics Corp during the second quarter worth approximately $73,082,000. Wellington Management Group LLP increased its position in Spectranetics Corp by 2.8% in the first quarter. Wellington Management Group LLP now owns 1,190,483 shares of the medical equipment provider’s stock worth $34,672,000 after buying an additional 32,876 shares during the last quarter. Finally, OppenheimerFunds Inc. increased its position in Spectranetics Corp by 82.6% in the first quarter. OppenheimerFunds Inc. now owns 1,141,402 shares of the medical equipment provider’s stock worth $33,243,000 after buying an additional 516,260 shares during the last quarter. 91.95% of the stock is owned by hedge funds and other institutional investors.
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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