A number of firms have modified their ratings and price targets on shares of Spectranetics Corp (NASDAQ: SPNC) recently:

  • 8/9/2017 – Spectranetics Corp was downgraded by analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating. They now have a $38.50 price target on the stock, up previously from $34.00.
  • 8/4/2017 – Spectranetics Corp was downgraded by analysts at Needham & Company LLC from a “buy” rating to a “hold” rating. They wrote, “SPNC beat consensus revenue and missed consensus EPS in 2Q17. Management did not hold a conference call or update its annual guidance since SPNC is being acquired by Philips; the deal is expected to close during 3Q17. Vascular Intervention sales missed our estimate and had growth similar to 1Q17 while Lead Management sales beat our estimate and also had growth similar to 1Q17.””
  • 8/4/2017 – Spectranetics Corp was downgraded by analysts at Guggenheim from a “buy” rating to a “neutral” rating.
  • 8/3/2017 – Spectranetics Corp was downgraded by analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating.
  • 7/26/2017 – Spectranetics Corp was downgraded by analysts at Raymond James Financial, Inc. from an “outperform” rating to a “market perform” rating.
  • 7/25/2017 – Spectranetics Corp had its “market perform” rating reaffirmed by analysts at Raymond James Financial, Inc.. They now have a $28.00 price target on the stock.
  • 7/24/2017 – Spectranetics Corp had its “hold” rating reaffirmed by analysts at Royal Bank Of Canada. They now have a $27.00 price target on the stock.
  • 7/12/2017 – Spectranetics Corp was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
  • 7/10/2017 – Spectranetics Corp was downgraded by analysts at UBS AG from a “buy” rating to a “neutral” rating. They now have a $38.50 price target on the stock, up previously from $33.00.
  • 7/10/2017 – Spectranetics Corp was downgraded by analysts at Canaccord Genuity from a “buy” rating to a “hold” rating. They now have a $38.50 price target on the stock, up previously from $37.00.
  • 7/6/2017 – Spectranetics Corp was downgraded by analysts at Northland Securities from an “outperform” rating to a “market perform” rating.
  • 7/1/2017 – Spectranetics Corp was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.
  • 6/29/2017 – Spectranetics Corp was downgraded by analysts at Northcoast Research from a “buy” rating to a “neutral” rating.
  • 6/28/2017 – Spectranetics Corp had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $38.50 price target on the stock. They wrote, “This morning Philips announced that it has entered into a definitive merger agreement with SPNC at $38.50 per share of cash. Philips previously acquired Volcano in early 2015 and we believe that SPNC’s product portfolio complements the Volcano vascular imaging (including intravascular ultrasound or IVUS and fractional flow reserve or FFR) and therapeutic product portfolio. We believe that the only area of direct overlap is atherectomy due to Volcano’s Phoenix atherectomy device but we believe its market share is very low and think regulatory issues are unlikely.””
  • 6/28/2017 – Spectranetics Corp had its “market perform” rating reaffirmed by analysts at Northland Securities. They now have a $38.50 price target on the stock, up previously from $32.00.

Spectranetics Corp (NASDAQ:SPNC) opened at 38.45 on Tuesday. The company has a 50 day moving average of $37.28 and a 200-day moving average of $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 posted its quarterly earnings data on Thursday, August 3rd. The medical equipment provider reported ($0.56) earnings per share 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 the consensus estimate of $73.82 million. During the same quarter last year, the business posted ($0.35) EPS. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. On average, equities analysts predict that Spectranetics Corp will post ($1.16) EPS for the current year.

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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