Oak Ridge Investments LLC decreased its holdings in Spectranetics Corp (NASDAQ:SPNC) by 1.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,916,478 shares of the medical equipment provider’s stock after selling 28,827 shares during the quarter. Spectranetics Corp accounts for about 2.3% of Oak Ridge Investments LLC’s portfolio, making the stock its largest holding. Oak Ridge Investments LLC owned approximately 4.41% of Spectranetics Corp worth $73,593,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the business. Janney Montgomery Scott LLC acquired a new position in shares of Spectranetics Corp in the 1st quarter valued at approximately $213,000. OppenheimerFunds Inc. raised its position in shares of Spectranetics Corp by 82.6% in the 1st quarter. OppenheimerFunds Inc. now owns 1,141,402 shares of the medical equipment provider’s stock valued at $33,243,000 after buying an additional 516,260 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new position in shares of Spectranetics Corp in the 1st quarter valued at approximately $108,000. Point72 Asset Management L.P. raised its position in shares of Spectranetics Corp by 726.0% in the 1st quarter. Point72 Asset Management L.P. now owns 205,667 shares of the medical equipment provider’s stock valued at $5,990,000 after buying an additional 180,767 shares in the last quarter. Finally, UBS Asset Management Americas Inc. raised its position in shares of Spectranetics Corp by 97.2% in the 1st quarter. UBS Asset Management Americas Inc. now owns 16,367 shares of the medical equipment provider’s stock valued at $477,000 after buying an additional 8,068 shares in the last quarter. Institutional investors and hedge funds own 91.95% of the company’s stock.
Shares of Spectranetics Corp (NASDAQ SPNC) remained flat at $38.45 during midday trading on Friday. 1,728,937 shares of the company traded hands. The firm’s 50 day moving average price is $37.28 and its 200 day moving average price is $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 earnings results on Thursday, August 3rd. The medical equipment provider reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by $0.29. The company had revenue of $74.71 million during the quarter, compared to analysts’ expectations of $73.82 million. Spectranetics Corp had a negative net margin of 32.93% and a negative return on equity of 194.18%. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.35) earnings per share. Equities analysts expect that Spectranetics Corp will post ($1.16) earnings per share for the current fiscal year.
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SPNC has been the subject of several analyst reports. Needham & Company LLC restated a “buy” rating and issued a $38.50 target price on shares of Spectranetics Corp in a research report on Wednesday, June 28th. Canaccord Genuity cut shares of Spectranetics Corp from a “buy” rating to a “hold” rating and boosted their target price for the company from $37.00 to $38.50 in a research report on Monday, July 10th. BidaskClub cut shares of Spectranetics Corp from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 10th. Raymond James Financial, Inc. restated a “market perform” rating and issued a $28.00 target price on shares of Spectranetics Corp in a research report on Tuesday, July 25th. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $27.00 target price on shares of Spectranetics Corp in a research report on Monday, July 24th. Eleven research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Spectranetics Corp presently has an average rating of “Hold” and an average target price of $35.36.
Spectranetics Corp 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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