Schwab Charles Investment Management Inc. boosted its position in The Spectranetics Corporation (NASDAQ:SPNC) by 0.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 171,443 shares of the medical equipment provider’s stock after buying an additional 889 shares during the period. Schwab Charles Investment Management Inc. owned about 0.39% of The Spectranetics Corporation worth $4,994,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. purchased a new stake in The Spectranetics Corporation during the first quarter worth about $108,000. Bollard Group LLC purchased a new stake in The Spectranetics Corporation during the first quarter worth about $146,000. Perkins Capital Management Inc. purchased a new stake in The Spectranetics Corporation during the first quarter worth about $201,000. Janney Montgomery Scott LLC purchased a new stake in The Spectranetics Corporation during the first quarter worth about $213,000. Finally, Fox Run Management L.L.C. purchased a new stake in The Spectranetics Corporation during the first quarter worth about $277,000. 91.95% of the stock is currently owned by institutional investors and hedge funds.

The Spectranetics Corporation (NASDAQ SPNC) traded up 0.065% during trading on Wednesday, hitting $38.475. The stock had a trading volume of 183,306 shares. The company’s 50 day moving average is $36.55 and its 200-day moving average is $29.78. The Spectranetics Corporation has a 12 month low of $19.80 and a 12 month high of $38.55. The company’s market cap is $1.67 billion.

The Spectranetics Corporation (NASDAQ:SPNC) last posted 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 Spectranetics Corporation had a negative net margin of 24.26% and a negative return on equity of 85.52%. The company had revenue of $74.71 million during the quarter, compared to analyst estimates of $73.82 million. During the same period in the prior year, the business posted ($0.35) EPS. The Spectranetics Corporation’s revenue for the quarter was up 10.3% compared to the same quarter last year. On average, equities research analysts predict that The Spectranetics Corporation will post ($1.13) earnings per share for the current year.

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A number of research firms have issued reports on SPNC. Stifel Nicolaus downgraded The Spectranetics Corporation from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $34.00 to $38.50 in a research note on Wednesday. Needham & Company LLC downgraded The Spectranetics Corporation from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Guggenheim downgraded The Spectranetics Corporation from a “buy” rating to a “neutral” rating in a research note on Friday, August 4th. Raymond James Financial, Inc. reaffirmed a “market perform” rating and issued a $28.00 price objective on shares of The Spectranetics Corporation in a research note on Tuesday, July 25th. Finally, BidaskClub downgraded The Spectranetics Corporation from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 10th. Eleven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $34.69.

About The Spectranetics Corporation

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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Institutional Ownership by Quarter for The Spectranetics Corporation (NASDAQ:SPNC)

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