Spectranetics Corp (SPNC) Given Average Rating of “Hold” by Brokerages

Spectranetics Corp (NASDAQ:SPNC) has been given an average recommendation of “Hold” by the eleven research firms that are presently covering the company, Marketbeat.com reports. Ten equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $35.63.

Several research firms recently commented on SPNC. Raymond James Financial, Inc. restated a “market perform” rating and set a $28.00 price target on shares of Spectranetics Corp in a research note on Tuesday, July 25th. 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. Stifel Nicolaus lowered shares of Spectranetics Corp from a “buy” rating to a “hold” rating and upped their price target for the company from $34.00 to $38.50 in a research note on Wednesday, August 9th. Needham & Company LLC lowered shares of Spectranetics Corp from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Finally, Guggenheim lowered shares of Spectranetics Corp from a “buy” rating to a “neutral” rating in a research note on Friday, August 4th.

Spectranetics Corp (NASDAQ:SPNC) last released its quarterly earnings data 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 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%. Spectranetics Corp’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period last year, the firm earned ($0.35) earnings per share.

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Institutional investors have recently added to or reduced their stakes in the stock. Amalgamated Bank acquired a new stake in shares of Spectranetics Corp during the second quarter valued at about $213,000. Keybank National Association OH acquired a new stake in shares of Spectranetics Corp during the second quarter valued at about $235,000. Vivaldi Capital Management LLC acquired a new stake in shares of Spectranetics Corp during the second quarter valued at about $243,341,000. BNP Paribas Arbitrage SA increased its position in shares of Spectranetics Corp by 202.9% during 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. Finally, BlueCrest Capital Management Ltd acquired a new stake in shares of Spectranetics Corp during the second quarter valued at about $258,000. Hedge funds and other institutional investors own 91.95% of the company’s stock.

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.

Analyst Recommendations for Spectranetics Corp (NASDAQ:SPNC)

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