Marshall Wace North America L.P. acquired a new stake in Spectranetics Corp (NASDAQ:SPNC) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 173,005 shares of the medical equipment provider’s stock, valued at approximately $6,574,000. Marshall Wace North America L.P. owned 0.39% of Spectranetics Corp at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in SPNC. Ameritas Investment Partners Inc. bought a new stake in Spectranetics Corp in the first quarter valued at approximately $108,000. BNP Paribas Arbitrage SA boosted its holdings in Spectranetics Corp by 202.9% in the second quarter. BNP Paribas Arbitrage SA now owns 6,433 shares of the medical equipment provider’s stock valued at $247,000 after acquiring an additional 4,309 shares during the last quarter. Aperio Group LLC bought a new stake in Spectranetics Corp in the second quarter valued at approximately $261,000. Great West Life Assurance Co. Can boosted its holdings in Spectranetics Corp by 170.6% in the second quarter. Great West Life Assurance Co. Can now owns 7,248 shares of the medical equipment provider’s stock valued at $277,000 after acquiring an additional 4,570 shares during the last quarter. Finally, Janney Montgomery Scott LLC bought a new stake in Spectranetics Corp in the first quarter valued at approximately $213,000. 91.95% of the stock is owned by institutional investors.
Several analysts recently commented on the company. Stifel Nicolaus cut Spectranetics Corp from a “buy” rating to a “hold” rating and upped their target price for the company from $34.00 to $38.50 in a report on Wednesday, August 9th. Guggenheim cut Spectranetics Corp from a “buy” rating to a “neutral” rating in a report on Friday, August 4th. Needham & Company LLC cut Spectranetics Corp from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Raymond James Financial, Inc. cut Spectranetics Corp from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 26th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $27.00 price target on shares of Spectranetics Corp in a report on Monday, July 24th. Eleven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $35.36.
Spectranetics Corp (NASDAQ:SPNC) opened at 38.45 on Wednesday. The company has a 50 day moving average price of $37.28 and a 200-day moving average price of $30.10. Spectranetics Corp has a one year low of $19.80 and a one year high of $38.55.
Spectranetics Corp (NASDAQ:SPNC) last posted its earnings results on Thursday, August 3rd. The medical equipment provider reported ($0.56) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 analysts’ expectations of $73.82 million. During the same period last year, the firm posted ($0.35) earnings per share. Spectranetics Corp’s quarterly revenue was up 10.3% on a year-over-year basis. Analysts expect that Spectranetics Corp will post ($1.16) EPS for the current 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.
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