Morgan Stanley lowered its position in shares of Spectranetics Corp (NASDAQ:SPNC) by 43.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 82,392 shares of the medical equipment provider’s stock after selling 63,489 shares during the period. Morgan Stanley owned approximately 0.19% of Spectranetics Corp worth $2,400,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. 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 period. 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 period. Loomis Sayles & Co. L P increased its position in Spectranetics Corp by 20.0% in the first quarter. Loomis Sayles & Co. L P now owns 867,288 shares of the medical equipment provider’s stock worth $25,260,000 after buying an additional 144,696 shares during the period. Vanguard Group Inc. increased its position in Spectranetics Corp by 5.1% in the first quarter. Vanguard Group Inc. now owns 1,843,011 shares of the medical equipment provider’s stock worth $53,677,000 after buying an additional 89,433 shares during the period. Finally, FIL Ltd bought a new position in Spectranetics Corp during the first quarter worth approximately $2,459,000. Hedge funds and other institutional investors own 91.95% of the company’s stock.
Shares of Spectranetics Corp (NASDAQ SPNC) remained flat at $38.45 during mid-day trading on Friday. The company’s stock had a trading volume of 1,728,937 shares. Spectranetics Corp has a one year low of $19.80 and a one year high of $38.55. 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) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by $0.29. The company had revenue of $74.71 million for the quarter, compared to analyst estimates 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 period last year, the company posted ($0.35) earnings per share. On average, analysts forecast that Spectranetics Corp will post ($1.16) EPS for the current fiscal year.
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A number of research analysts have commented on SPNC shares. Zacks Investment Research downgraded shares of Spectranetics Corp from a “hold” rating to a “sell” rating in a research note on Wednesday, May 3rd. Royal Bank Of Canada reissued a “hold” rating and set a $27.00 target price on shares of Spectranetics Corp in a report on Monday, July 24th. BidaskClub cut shares of Spectranetics Corp from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 12th. Needham & Company LLC reissued a “buy” rating and set a $34.00 target price (up from $32.00) on shares of Spectranetics Corp in a report on Friday, April 28th. Finally, ValuEngine raised shares of Spectranetics Corp from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Eleven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $35.36.
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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