Spectranetics Corp (SPNC) Shares Bought by Engineers Gate Manager LP
Engineers Gate Manager LP raised its stake in Spectranetics Corp (NASDAQ:SPNC) by 63.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 42,386 shares of the medical equipment provider’s stock after buying an additional 16,415 shares during the period. Engineers Gate Manager LP owned approximately 0.10% of Spectranetics Corp worth $1,628,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Spectranetics Corp during the 2nd quarter worth approximately $20,643,000. OppenheimerFunds Inc. increased its stake in shares of Spectranetics Corp by 82.6% during the 1st quarter. OppenheimerFunds Inc. now owns 1,141,402 shares of the medical equipment provider’s stock worth $33,243,000 after purchasing an additional 516,260 shares in the last quarter. ARP Americas LLC purchased a new position in shares of Spectranetics Corp during the 2nd quarter worth approximately $15,266,000. Redmile Group LLC increased its stake in shares of Spectranetics Corp by 197.0% during the 1st quarter. Redmile Group LLC now owns 557,189 shares of the medical equipment provider’s stock worth $16,228,000 after purchasing an additional 369,562 shares in the last quarter. Finally, Gamco Investors INC. ET AL purchased a new position in shares of Spectranetics Corp during the 2nd quarter worth approximately $13,388,000. 91.95% of the stock is owned by institutional investors.
Spectranetics Corp (NASDAQ SPNC) opened at 38.45 on Tuesday. The firm has a 50 day moving average of $37.28 and a 200-day moving average of $30.10. Spectranetics Corp has a one year low of $19.80 and a one year high of $38.55.
Spectranetics Corp (NASDAQ:SPNC) last released its quarterly earnings results on Thursday, August 3rd. The medical equipment provider reported ($0.56) earnings per share (EPS) for the quarter, missing the Zacks’ 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 firm had revenue of $74.71 million for the quarter, compared to analyst estimates of $73.82 million. During the same quarter in the prior year, the firm earned ($0.35) EPS. The firm’s revenue was up 10.3% compared to the same quarter last year. Equities research analysts expect that Spectranetics Corp will post ($1.16) earnings per share for the current year.
A number of research analysts have recently weighed in on the stock. Raymond James Financial, Inc. reissued a “market perform” rating and set a $28.00 price objective on shares of Spectranetics Corp in a research note on Tuesday, July 25th. Royal Bank Of Canada reissued a “hold” rating and set a $27.00 price objective on shares of Spectranetics Corp in a research note on Monday, July 24th. Stifel Nicolaus cut shares of Spectranetics Corp from a “buy” rating to a “hold” rating and raised their price objective for the stock from $34.00 to $38.50 in a research note on Wednesday, August 9th. Needham & Company LLC cut shares of Spectranetics Corp from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Finally, Guggenheim cut shares of Spectranetics Corp from a “buy” rating to a “neutral” rating in a research note on Friday, August 4th. Eleven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $35.36.
Spectranetics Corp 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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