Paulson & CO. Inc. bought a new position in shares of Spectranetics Corp (NASDAQ:SPNC) in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 237,500 shares of the medical equipment provider’s stock, valued at approximately $9,120,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Rhumbline Advisers increased its holdings in Spectranetics Corp by 0.6% during the 2nd quarter. Rhumbline Advisers now owns 54,223 shares of the medical equipment provider’s stock worth $2,082,000 after purchasing an additional 303 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Spectranetics Corp by 1.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 33,602 shares of the medical equipment provider’s stock worth $1,290,000 after purchasing an additional 473 shares in the last quarter. Macquarie Group Ltd. increased its holdings in Spectranetics Corp by 0.8% during the 2nd quarter. Macquarie Group Ltd. now owns 71,029 shares of the medical equipment provider’s stock worth $2,728,000 after purchasing an additional 540 shares in the last quarter. TIAA CREF Investment Management LLC increased its holdings in Spectranetics Corp by 0.6% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 145,469 shares of the medical equipment provider’s stock worth $5,586,000 after purchasing an additional 826 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its holdings in Spectranetics Corp by 0.5% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 171,443 shares of the medical equipment provider’s stock worth $4,994,000 after purchasing an additional 889 shares in the last quarter. Hedge funds and other institutional investors own 91.95% of the company’s stock.

A number of equities analysts have issued reports on the company. Raymond James Financial, Inc. reiterated a “market perform” rating and set a $28.00 target price on shares of Spectranetics Corp in a report on Tuesday, July 25th. Royal Bank Of Canada restated a “hold” rating and issued a $27.00 price objective on shares of Spectranetics Corp in a report on Monday, July 24th. Stifel Nicolaus cut Spectranetics Corp from a “buy” rating to a “hold” rating and raised their price objective for the company from $34.00 to $38.50 in a report on Wednesday, August 9th. Guggenheim cut Spectranetics Corp from a “buy” rating to a “neutral” rating in a report on Friday, August 4th. Finally, Needham & Company LLC cut Spectranetics Corp from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Ten research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $35.36.

Shares of Spectranetics Corp (NASDAQ:SPNC) remained flat at $38.45 during trading on Tuesday. 1,728,937 shares of the stock traded hands. The stock’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 posted its 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 business had revenue of $74.71 million for the quarter, compared to the consensus estimate of $73.82 million. Spectranetics Corp had a negative return on equity of 194.18% and a negative net margin of 32.93%. The company’s revenue was up 10.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.35) earnings per share. On average, equities research analysts anticipate that Spectranetics Corp will post ($1.16) EPS for the current fiscal year.

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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.

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

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