Spectranetics Corp (NASDAQ:SPNC) was downgraded by Raymond James Financial, Inc. from an “outperform” rating to a “market perform” rating in a report issued on Wednesday, July 26th.
A number of other brokerages have also commented on SPNC. Royal Bank Of Canada restated a “hold” rating and set a $27.00 price target on shares of Spectranetics Corp in a research note on Monday, July 24th. BidaskClub upgraded shares of Spectranetics Corp from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 1st. UBS AG lowered shares of Spectranetics Corp from a “buy” rating to a “neutral” rating and upped their target price for the stock from $33.00 to $38.50 in a research note on Monday, July 10th. Canaccord Genuity lowered shares of Spectranetics Corp from a “buy” rating to a “hold” rating and upped their target price for the stock from $37.00 to $38.50 in a research note on Monday, July 10th. Finally, Northcoast Research lowered shares of Spectranetics Corp from a “buy” rating to a “neutral” rating in a research note on Thursday, June 29th. Eleven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $34.69.
Shares of Spectranetics Corp (NASDAQ:SPNC) remained flat at $38.45 during midday trading on Wednesday. The company’s stock had a trading volume of 1,728,937 shares. The company has a 50 day moving average of $37.28 and a 200-day moving average of $30.10. Spectranetics Corp has a 52 week low of $19.80 and a 52 week high of $38.55.
Spectranetics Corp (NASDAQ:SPNC) last announced its quarterly 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 business had revenue of $74.71 million for the quarter, compared to the consensus estimate of $73.82 million. Spectranetics Corp had a negative net margin of 32.93% and a negative return on equity of 194.18%. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.35) EPS. On average, analysts predict that Spectranetics Corp will post ($1.16) EPS for the current fiscal year.
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Several institutional investors have recently modified their holdings of the company. Ameritas Investment Partners Inc. bought a new position in shares of Spectranetics Corp during the first quarter worth $108,000. Bollard Group LLC acquired a new stake in Spectranetics Corp during the first quarter valued at approximately $146,000. Perkins Capital Management Inc. acquired a new stake in Spectranetics Corp during the first quarter valued at approximately $201,000. Janney Montgomery Scott LLC acquired a new stake in Spectranetics Corp during the first quarter valued at approximately $213,000. Finally, Amalgamated Bank acquired a new stake in Spectranetics Corp during the second quarter valued at approximately $213,000. 91.95% of the stock is currently owned by 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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