Alliancebernstein L.P. Has $2,869,000 Holdings in Spectranetics Corp (SPNC)

Alliancebernstein L.P. continued to hold its stake in Spectranetics Corp (NASDAQ:SPNC) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,726 shares of the medical equipment provider’s stock at the end of the 2nd quarter. Alliancebernstein L.P. owned 0.17% of Spectranetics Corp worth $2,869,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Airain ltd purchased a new stake in shares of Spectranetics Corp in the second quarter worth $3,265,000. Vivaldi Asset Management LLC purchased a new stake in shares of Spectranetics Corp in the second quarter worth $2,535,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Spectranetics Corp in the first quarter worth $108,000. Point72 Asset Management L.P. increased its stake in shares of Spectranetics Corp by 726.0% in the first quarter. Point72 Asset Management L.P. now owns 205,667 shares of the medical equipment provider’s stock worth $5,990,000 after purchasing an additional 180,767 shares in the last quarter. Finally, UBS Asset Management Americas Inc. increased its stake in shares of Spectranetics Corp by 97.2% in the first quarter. UBS Asset Management Americas Inc. now owns 16,367 shares of the medical equipment provider’s stock worth $477,000 after purchasing an additional 8,068 shares in the last quarter. 91.95% of the stock is owned by hedge funds and other institutional investors.

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Spectranetics Corp (NASDAQ:SPNC) opened at 38.45 on Wednesday. The company’s 50-day moving average is $37.28 and its 200 day moving average is $30.10. Spectranetics Corp has a 1-year low of $19.80 and a 1-year high of $38.55.

Spectranetics Corp (NASDAQ:SPNC) last issued its quarterly 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). The company had revenue of $74.71 million during the quarter, compared to analysts’ expectations of $73.82 million. Spectranetics Corp had a negative return on equity of 194.18% and a negative net margin of 32.93%. Spectranetics Corp’s revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.35) EPS. Equities analysts predict that Spectranetics Corp will post ($1.16) EPS for the current fiscal year.

A number of brokerages have recently issued reports on SPNC. UBS AG cut shares of Spectranetics Corp from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $33.00 to $38.50 in a research note on Monday, July 10th. Stifel Nicolaus cut shares of Spectranetics Corp from a “buy” rating to a “hold” rating and increased their price objective for the stock from $34.00 to $38.50 in a research note on Wednesday, August 9th. Raymond James Financial, Inc. cut shares of Spectranetics Corp from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 26th. Northland Securities reissued a “market perform” rating and issued a $38.50 price objective (up from $32.00) on shares of Spectranetics Corp in a research note on Wednesday, June 28th. Finally, Guggenheim cut shares of Spectranetics Corp from a “buy” rating to a “neutral” rating in a research note on Friday, August 4th. Ten equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target 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.

Institutional Ownership by Quarter for Spectranetics Corp (NASDAQ:SPNC)

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